Wiktionary
n. (context gambling speculation English) An opportunity in which the chance of success is equal to that of failure.
Usage examples of "even odds".
Ammi shrilled so loudly that it was even odds whether or not he'd wake up everyone in the B&.
All the timing can give us is better than even odds, and I told you, I'm not a gambler.
If I could contrive that the first battle was on near level terms, or even odds of three to two against us, I'd have given Gough victory on a lordly dish.
But he knows rotted well which one we are, cousins: we're all too conspicuous, and I've a notion which way he'll go when he can-even odds between us and Mahijiru.
It was just a bit better than even odds that they could make it clear, but there wasn't a question in either of their minds.
No, for a good ambush I want better than even odds, and I doubt if we are even at that point in this place.