even money
Noun
Meaning
A bet which offers odds of 1 to 1.
(idiomatic) By extension, an event that is somewhat likely to happen, but far from inevitable.
It's even money that it will rain today.
Synonyms
Examples
If I were a gambler, I would take even money that England will not exist in the year 2000.
For even money itself has no value if there is no network of people to recognize it.
As odds bets are paid at true odds, in contrast with the pass line which is always even money, taking odds on a minimum pass line bet lessens the house advantage compared with betting the same total amount on the pass line only.
Fully insuring a blackjack against blackjack is thus referred to as "taking even money", and paid out immediately, before the dealer's hand is resolved; the players do not need to place more chips for the insurance wager.
Making the point pays 3:1 on Pass/Come odds bets (1:3 on Don't Pass/Come odds); all line bets are still even money.
Odds of 1/1 are known as evens or even money.