What Does Even Money Mean In Betting?
Last Updated on March 18, 2024
By Jacob Potter 
Here, you’ll find out about what even money means in betting, as well as examples from various sporting events.
What Does Even Money Mean In Betting?
A good way to understand what even money means is to look at it as evens (2.0) being the starting point of a bookmaker’s odds. If the odds shorten, you’ll be getting less value for your money, whereas if the odds drift, then you’ll be getting more value for the funds you’re wagering on a bet.
Odds displayed as evens mean you’ll have the amount you placed on the bet doubled if it’s a winning selection. Some examples can be found below of an evens money bet.
- You place a £10 bet on a selection with evens odds. You’ll receive £20 back if the bet wins, which includes the stake.
- You place a £100 bet on a selection with evens odds. You’ll receive £200 back if the bet is a winning one, which includes the stake you placed on the bet.
Some punters that place bets such as football accumulators might not see selections that are even money as value. But bettors that have strategies in place which involve statistics and reasoning behind the selections can often find value in betting with odds in and around evens.
Even money can be converted into 1/1 through fractional odds, so it’s relatively simple to understand. If a considerable amount of money is placed on a betting market originally priced at even money, then you could see the price shorten with your chosen betting site. The best way to understand what even money means is that whatever your stake is on a bet, you’ll receive double your money back if the selection is a winning one.
Even Money Examples
Here at MyBettingSites, we’ve saved you the trouble of finding some examples of even money bets on a betting site. Below, you’ll find some examples of an even money betting selection from a range of different betting sites, which includes the likes of bet365 and Sky Bet.
Football
Tennis
Casino
With casino betting, the ‘outside’ bets you can place are often even money. This only applies to the bets featured on the bottom row of the image pictured below. You can either bet on red or black at one point, which is almost a 50-50 chance of winning, as there is still a chance the ball could land on zero.
The same applies for the 1-18 and 19-36 market, as does the odd or even selection, so there’s slightly less value for your money with casino betting, as there is always a chance your bet could be a losing one if it lands on zero.
You can find more on other betting strategies on our page for how to bet online and a more in-depth look with our odds explained page.
