What does the ‘Evens’ Betting Term Mean?
When looking at bookmakers odds, you will sometimes see the odds marked up as ‘Evens’ or ‘Evs’ for short (also known as Even Money). But what does this mean in betting terms and should you place a bet at Evens?
The term relates to the odds given and it can be found across all sports including football, horse racing and golf. When a bookies prices something up at Evens, it basically means a double your money bet, as the bookies think it has a 50/50 chance of happening.
Anything that is priced at lower than Evens is known as ‘odds on’, anything over Evens is ‘odds against’.
Depending on which betting site you use and how you have your odds set up, you might see Evens written as 1/1 or 2.0 in decimal odds. In American moneyline odds, Evens is the same as -100.
- How an Evens bet works
- Betting on odds of ‘Evens’
- Best Evens bet for today
- Whould you place Evens bets?
- How much do you win on Evens bets?
How an Evens Bet Works
Betting on something at odds of Evens means you double your money if the bet wins.
- You bet £20 on Liverpool to beat Manchester United at odds of Evens.
- If Liverpool win, you double your money – the return will be £40 (£20 profit and your £20 stake returned).
- If Manchester United win or the match is a draw, your bet loses.
When something is priced up at Evens, the bookies are suggesting that there is a 50/50 chance of the result in question happening. This is seen by many people as the ideal bet that balances risk and reward, and it is a popular choice for betting challenges on social media.
You would only have to win 50% of your Evens bets to keep yourself level or in profit if you chose to bet on everything at Evens.
Betting on Evens Odds
If you choose to bet on Evens odds in betting, you can look to get an advantage over the bookies by trying to find events that you think are priced incorrectly. Sometimes bettors can get an edge over bookmakers by finding odds which the bettor feels should be shorter.
For example, if Manchester City are playing a match against Tottrnham this weekend but there are a lot of injuries in the Tottenham squad, the bookmakers might not have taken that into consideration or not yet seen the team news. This could mean that Manchester City’s odds are Evens when really they should be shorter – 4/6 for example. If this is the case then this would be a good time to bet on Manchester City at odds of Evens.
This is how Evens is written at bet365 – 1/1.
Best Evens Bet of the Day
Although our bet of the day tips are not always exactly Evens, we do try to find betting tips that are Evens or bigger because this provides the punter will good value for a bet.
A £10 bet on an Evens bet of the day would return £20, or a £10 bet on a 6/4 bet of the day would return £25.
Each day you should check out our bet of the day page and see what bet is advised if you want to bet on something at odds of Evens on the football.
Should I place an Evens Bet?
An evens bet is placed at decimal odds of 2.0. This is a double your money bet and if that is how you want to place today’s bets, they are a good choice. However, we would always advise betting on something you think is going to win, not just because the odds are Evens. Afterall, having a winning bet at odds of 5/6 or 4/6 is better than having a losing bet at Evens.
In football, Evens is a very common odds to see and the challenge is to decide whether you think this is a good value bet or not.
When you see the higher placed team away from home priced at Evens, you might instantly think that is a good bet, but after some consideration and taking everything into account you could change your mind.
It is not uncommon to see the Premier League’s top clubs priced at Evens or bigger for away matches. For example, Chelsea might be priced at Evens away to Everton, but they have a poor record at Goodison Park and often struggle to win at that away group, so this is a time when you maybe shouldn’t place at Evens bet.
How much do you win on an Evens bet?
You would double your stake if the bet wins.
- A £20 bet at Evens returns £40 (£20 profit and your £20 stake back).
- A £50 bet at Evens returns £100 (£50 profit and your £50 stake back).
- A £100 bet at Evens returns £200 (£100 profit and your £100 stake back).
Of course, if your bet loses then you don’t win anything.
Free Bet for Evens Betting
If you want to have a go at Evens betting on today’s sport, a free bet is a good thing to use because it reduces your risk of losing.
Opening a new Coral account will get your four free £5 bets once you bet £5 and this is perfect for an Evens bet today.
Sign-up for a Coral account and place a £5 bet at odds of Evens.
Win or lose you get four free £5 bets and if your Evens bet wins, you win an additional £5 profit.
£20 in FREE BETS when you bet £5
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