(in betting) odds offering an equal chance of winning or losing, with the amount won being the same as the stake:players bet on each throw for even money [as modifier]:Romany King swept past the even-money favourite Paco’s Boy
[as modifier] (of a chance) equally likely to happen or not; fifty-fifty:above those engines there was an even-money chance of being heard
even money in other Oxford dictionaries
Definition of even money in the US English dictionary
