Wiktionary
n. 1 A bet which offers odds of 1 to 1. 2 (context idiomatic English) By extension, an event that is somewhat likely to happen, but far from inevitable.
Wikipedia
Even money is a wagering proposition with even odds - the bettor stands to lose or win the same amount of money. Beyond gambling, even money can mean an event whose occurrence is about as likely to occur as not. Even money is also known as 50–50.
In professional gambling, even money bets typically do not have odds that are indeed 50–50. Therefore, successful gamblers have to examine any bets they make in light of the odds really being even money. For example, in roulette, betting on red or black is an even money bet. However, the presence of the green 0 and the 00 means that statistically the bettor will lose more than 50% of the time. There are variations of the game that offer en prison on 37 number tables so if a 0 is rolled, the bettor neither wins or loses but his or her bet rides again on the next roll; if the bet-upon event occurs on the second spin, the even-money wager is returned to the bettor. There still is not a 50-50 chance of winning, but a lot closer, since the house edge is reduced by almost 50%.
In blackjack, even money bet is a side bet offered to a player that has a natural (an Ace and a ten-valued card) in case the dealer has an Ace as a face-up card. This bet costs half the size of the original bet. Even money bet protects the player from a push if the dealer has a blackjack. In case the dealer does have a blackjack, the player will push on the original bet and get a 2 to 1 payout on the even money side bet. However if the dealer does not have a blackjack, the player will be paid 3 to 2 on the original bet and lose the even money bet. Mathematically, requesting "even money" on a natural on a table that pays 3:2 for a natural is the same as an insurance bet since the 50% bonus is being used to buy the insurance.
Even Money is a 2006 American crime film.
The story concerns three strangers who are addicted to gambling and how their lives come to be intertwined. They are a novelist who struggles to write her follow-up book, a former stage magician and an older brother of a college basketball star. The film was directed by Mark Rydell, and stars Forest Whitaker, Nick Cannon, Kim Basinger, Danny DeVito, Kelsey Grammer, Tim Roth, Carla Gugino, Jay Mohr and Ray Liotta. It was released on May 18, 2007 in theaters.
Usage examples of "even money".
In fact, she hurries home right after the ball game to get this delicacy ready, because Haystack tells her he will surely come home this particular night, although Hattie knows he is never better than even money to keep his word about anything.
They are laying even money he beats it, although of course his digestion may be slightly impaired.
Victory or Death is even money but is only joint favourite and I'm not at all certain about its chances.
The same alarming distinction was conferred on Rebecca, in spite of her father's entreaties, who offered even money, in this extremity of distress, that she might be permitted to abide with him.
In fact, she is even money in my book to outtug the skinny guy, when Harry the Horse arrives on the spot and lets go with a neat left hook which connects with the skinny guy's chin.
Nevertheless, although you have sung his songs and read his verses, in school and out your whole life, it is at least an even money bet -- unless you are a spaceman yourself -- that you have never even heard of most of Rhysling's unpublished songs, such items as _Since the Pusher Met My Cousin_, _That Red-Headed Venusburg Gal_, _Keep Your Pants On, Skipper_, or _A Space Suit Built for Two_.