An even-money bet wins exactly what you stake. Bet $50, win $50 profit.
It's written as +100 in American odds, 2.00 in decimal odds and 1/1 or "evens" in fractional odds. The implied probability is 50%.
Because of the vig, true even-money prices are rare on two-way markets. Most coin-flip games are priced at -110 on both sides instead.
How it works
Even money is the dividing line between favorites and underdogs. Anything shorter than even money pays less than your stake, and anything longer pays more.
It's a useful anchor for reading any odds format:
| Format | Even money | Shorter (favorite) | Longer (underdog) |
|---|---|---|---|
| American | +100 | -120 | +120 |
| Decimal | 2.00 | 1.83 | 2.20 |
| Fractional | Evens | 5/6 | 6/5 |
On many US sportsbooks you'll rarely see +100 on both sides of a game, because the vig pushes both prices below it. A true coin flip is usually priced at -110 / -110 instead, so you pay $110 for every $100 you could win.
In the UK, a selection at even money is said to be "at evens". Some sportsbooks run "evens" promotions on popular bets as a way to attract customers, which can be good value compared with the usual price.
Examples
- Example 1
A $50 bet at +100 wins $50 profit, so you get $100 back.
- Example 2
Over 100 bets of $100 on 50/50 outcomes, winning half breaks even at +100. At -110, risking $110 to win $100 each time, the same results lose $500.
Common questions
What does even money mean in betting?
It means you win the same amount you stake. It's +100 in American odds, 2.00 in decimal and evens in fractional odds.
Is +100 the same as evens?
Yes. +100, 2.00 and evens (1/1) all describe the same price, with a 50% implied chance.