In a story like this, if the wife loses a bet and gets a 'dog knot' (assuming this is some sort of made - up or symbolic thing), it could lead to many different outcomes. It might be a source of humor in a very off - beat kind of story, where the absurdity of the situation is played up for comical effect. Or it could be a more serious exploration of the consequences of rash bets. For instance, she may face social ostracism if others in the story find out about this strange 'punishment' from the bet. She may also have to struggle with her own self - respect and how she views herself after being in such a situation.
This is a rather strange and inappropriate scenario. However, if we consider it in a fictional and non - offensive way, perhaps the consequence could be a lot of chaos and confusion in the family or social situation in the story.