But my so-called friends kept pressuring me to say it because I can just bail on a dare.
Here bail on means back out of / not do something you previously agreed or were supposed to do.
I can just bail on a dare.
= I can just back out of the dare.
= 我可以直接不玩这个挑战 / 临阵退出
to escape from a situation that you no longer want to be involved in 逃避，摆脱（不想再牵连其中的情况）
I’d understand if you wanted to bail out of this relationship.
that guy was a poopy hole as well,