Evenmoney

Evenmoney, or evens, is a term used in gambling to describe bets that pay out at odds of 1 to 1. In decimal odds this is 2.00; in fractional odds it is 1/1; in American odds it is +100. A successful even-money bet returns the stake plus an equal amount in profit, resulting in a total payout of twice the amount wagered.

Even-money bets are common for propositions perceived as roughly 50/50, such as coin toss outcomes, bets on red or black in roulette, or evenly matched sports contests. Many bookmakers label these wagers as evens or at even money, reflecting the expectation of an equal chance of win and loss.

In practice, even-money bets carry a house margin or vigorish that ensures the bookmaker earns a profit over time. This means the true probability of winning is typically slightly less than 50%, making the expected value of an even-money bet negative for the bettor unless favorable odds or a mispricing occurs.

The term is most accurate for wagers on events with approximately even chances, but it is sometimes used more loosely to describe any bet with a 1:1 payout. Understanding evenmoney involves comparing the stated payout to the event’s actual probability, as the presence of a house edge affects long-term outcomes.

See also: even odds, 1:1 payout, house edge, gambling odds.

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