In online sports betting, even money is the odds rate at which bettors receive an exact one-to-one payout ratio. A $10 bet would return exactly $10 in winnings, plus the original bet principal.
In American odds, even money is represented as +100.
Even-money bets are most commonly seen in moneyline markets where a slight +100 underdog is typically matched against a -120 favorite.
Even Money Bet Example
In the days leading up to the 2024 Rose Bowl, the Michigan Wolverines were priced as a -120 betting favorite in BetMGM’s moneyline market.
Alabama was +100, or even money. If the Crimson Tide had won, bettors who wagered $50 on Alabama +100 would have received $50 in winnings, plus their original $50 returned to them.
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