Even Money
Even money is a wager made in hopes of winning the amount that was wagered.
The simple explanation
An even-money bet pays the same amount as you risk. If you bet $10 and win, you win $10. The odds are one to one. A fair coin flip is an even-money bet.
A closer look
In poker the term is used for a decision in which the payout equals the risk. Whether it is a good bet depends on your chance of winning: you need more than 50 percent for an even-money wager to be profitable.
A practical example
Two players flip a coin for $10 each. The winner gets $10, so the bet is at even money.
Full explanation
Even money is a wager made in hopes of winning the amount that was wagered.
Even money describes a bet that pays the amount staked. If you risk $1 to win $1, the odds are 1 to 1.
A fair coin toss is a typical even-money bet. Each side wins half of the time, so the bet has no edge.
In betting terms, a wager at even money is profitable if the chance of winning is above 50 percent.
The term is not special to poker, but poker players use it to describe odds.