Even money

This is a price equivalent to 1-1 where your stake brings you equal winnings. For example, if you place money on a horse at even money, you stake £10 for it to win and receive £10 profit if it does (£20 return in total). These odds are usually represented as ‘Evs’ in fractional odds.

What is evens in betting?

“Evens” in betting refers to odds that are even or 1:1. When you place a bet with even odds, you have the potential to double your stake if your bet is successful. In other words, if you win a bet with even odds, you receive an amount equal to your original wager as profit, in addition to getting back your original stake.

Here’s how it works:

  1. Bet Amount: You decide how much money you want to wager on your bet, which is referred to as your “stake.”
  2. Even Odds: If the odds are “even” or “evens,” they are typically represented as “1/1” or “1.00” in decimal odds format. This means that for every unit of currency (e.g., $1, £1, €1) you wager, you can potentially win an equal amount if your bet is successful.
  3. Potential Payout: If you place a bet with even odds and it wins, you receive your original stake back, plus an equal amount as profit. For example:
    • If you bet $10 on a selection with even odds, and your bet wins, you receive your original $10 stake back plus $10 in profit, for a total return of $20.
    • If you bet £20 on an even-odds selection in a UK sportsbook, and your bet is successful, you get your £20 stake back plus £20 in profit, for a total return of £40.

Even odds are often associated with bets that are considered to have a roughly 50/50 chance of winning, such as a coin toss or a bet on a team to win a sports match when the two teams are evenly matched. It’s a straightforward betting scenario where your potential profit is equal to your stake, making it a popular choice for many bettors.

Keep in mind that while even odds offer a 1:1 return on your stake, they are not always available for every betting market, and odds can vary depending on the bookmaker and the specific event or outcome you are betting on.