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(gambling) a bet or wager that pays out at a 1:1 ratio, or in other words, a bet in which the potential payout is equal to the amount of the original wager
What is "even money"?
Even money is a term used in gambling to describe a bet where the potential payout is equal to the amount wagered. In other words, if a player bets a certain amount and wins, they will receive that same amount in return, along with their original wager. This means the odds are 1:1, and the player has an equal chance of winning or losing the bet. Even money bets are common in many types of gambling, such as blackjack, where a player can bet on outcomes like a coin toss or betting on a team to win, with the payout being the same as the initial wager.
