even money
C2Informal
Definition
Meaning
A bet where the potential profit equals the stake (1:1 odds); a situation where two outcomes are considered equally likely.
Used more broadly to describe any situation where two possibilities are perceived as having an equal chance of occurring, or where the reward equals the risk.
Linguistics
Semantic Notes
Primarily used in gambling/betting contexts. Its extended figurative use is common in general speech to indicate perceived equal probability.
Dialectal Variation
British vs American Usage
Differences
The term is equally understood and used in both varieties, primarily in betting contexts. The figurative use might be slightly more common in American English.
Connotations
Conveys a sense of risk, uncertainty, and direct competition. Neutral in gambling contexts; can imply unpredictability in figurative use.
Frequency
Low frequency in general corpora, but common within specific domains like sports commentary, financial risk analysis, and informal predictions.
Vocabulary
Collocations
Grammar
Valency Patterns
It's even money that + clause (e.g., It's even money that she'll be late)to get/offer even money on somethingto be even money (followed by 'to' + infinitive or 'for' + noun)Vocabulary
Synonyms
Strong
Neutral
Weak
Vocabulary
Antonyms
Phrases
Idioms & Phrases
- “It's even money.”
- “I'd put even money on it.”
Usage
Context Usage
Business
Informal risk assessment: 'It's even money whether the merger gets regulatory approval.'
Academic
Rare, except in statistical or probabilistic discussions as an informal synonym for equiprobability.
Everyday
Figurative use for uncertain outcomes: 'It's even money whether it rains for the picnic.'
Technical
Core usage in gambling and sports betting to denote specific 1:1 payout odds.
Examples
By Part of Speech
verb
British English
- The bookies are even-moneying that result now.
American English
- I wouldn't even-money that bet if I were you.
Examples
By CEFR Level
- The odds for the match are now even money.
- It's even money whether the train is on time.
- Given the latest polls, it's even money which candidate will win the marginal seat.
- Hedge funds were offering even money on the startup's failure within the year.
Learning
Memory Aids
Mnemonic
Think of 'even' as in 'equal' or 'level'—the money you risk and the money you could win are level/equal amounts.
Conceptual Metaphor
UNCERTAINTY IS A GAMBLE / PROBABILITY IS A QUANTITY OF MONEY
Watch out
Common Pitfalls
Translation Traps (for Russian speakers)
- Avoid direct translation resulting in 'ровные деньги' or 'четные деньги', which are nonsensical. The concept is 'равные шансы' or 'ставка один к одному'.
Common Mistakes
- Using it as an adjective directly before a noun (e.g., 'an even money chance' is awkward; prefer 'It's even money that...').
- Confusing it with 'easy money' (money earned with little effort).
Practice
Quiz
In which context is 'even money' LEAST likely to be used appropriately?
FAQ
Frequently Asked Questions
No. While its origin and primary meaning are in gambling (1:1 odds), it is commonly used figuratively in everyday language to mean two outcomes are equally likely.
It is grammatically possible but stylistically awkward and uncommon. The standard patterns are 'It's even money that...' or 'The odds are even money.'
No, it is informal. In formal writing about probability, terms like 'equiprobable' or 'a probability of 0.5' would be preferred.
They are largely synonymous in figurative use. However, 'even money' retains a stronger association with betting and explicit risk/reward, while 'fifty-fifty' is more general.