What Does Even Money Mean in Sports Betting?

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Michigan running back Blake Corum (2) runs in for a touchdown past Alabama defensive back Kool-Aid McKinstry (1) during overtime at the Rose Bowl CFP NCAA semifinal college football game Monday, Jan. 1, 2024, in Pasadena, Calif.
(AP Photo/Kyusung Gong)
Chase Kiddy @chaseakiddy Jan 03, 2024, 2:52 PM

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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About the Author

Chase Kiddy

Read More @chaseakiddy

Chase Kiddy is a writer for BetMGM and co-host of The Lion's Edge, an NFL and college football podcast available on Spotify, Apple Podcasts, and everywhere else. He has also written for a number of print and online outlets, including the Richmond Times-Dispatch, Washington Post, Daily News-Record, and HERO Sports. His first novel, Cave Paintings, is in development.

Chase Kiddy is a writer for BetMGM and co-host of The Lion's Edge, an NFL and college football podcast available on Spotify, Apple Podcasts, and everywhere else. He has also written for a number of print and online outlets, including the Richmond Times-Dispatch, Washington Post, Daily News-Record, and HERO Sports. His first novel, Cave Paintings, is in development.