Even Money

1. A 1-1 payout in poker and gambling situations.

As Opposed To...

Getting odds.

In other words, if there is $100 in the pot and it costs $100 to call, that is an even money proposition. If you beat the dealer in blackjack, he pays you at even money. If you are dealt blackjack (an ace and a face card), you are paid at 3-2 (not even money). If we bet $100 on the flip of a coin, that is an even money bet. If someone offers you 2-1 on the flip of a coin, that is not even money, and it is probably a scam.