NEW ZEALAND
ENGLISH
Casino Terms Glossary
Even money — is a bet that pays 1:1: you win exactly what you stake. In casinos it describes wagers like red/black in roulette or the Pass Line in craps. In blackjack, “even money” also names the choice to take a guaranteed 1:1 payout on your blackjack when the dealer shows an Ace.
Understanding Even money
Even money meaning varies slightly by game, but the core Even money definition is a 1:1 payout relative to your stake. It’s attractive to many players because volatility is lower than on long-shot bets, yet house edge still applies via zeros (roulette), commission (baccarat banker), or push rules (craps). In blackjack, taking even money is mathematically the same as buying insurance. At 101RTP, we review casinos and games, and our Slot Simulator and Bonus Value Score help you model bankroll swings and evaluate which bets and slots fit your strategy and bonus goals.
Examples of Even money
Common situations where a casino offers even money:
- Roulette: Red/Black, Odd/Even, and 1–18/19–36 pay 1:1; green zeros create the house edge.
- Craps: Pass Line and Don’t Pass pay 1:1 on resolved outcomes (free odds pay true odds, not even money).
- Baccarat: Player bet pays 1:1; Banker pays 1:1 minus a 5% commission.
- Blackjack: With a player blackjack vs dealer Ace, “Even Money?” offers a flat 1:1 instead of risking a push for 3:2.
FAQs
What is the Even money definition in gambling?
Even money is a 1:1 payout: win and you gain an amount equal to your stake; lose and you forfeit the stake. The term appears across casino games like roulette, baccarat, and craps, and in blackjack it also refers to taking a guaranteed 1:1 payout on a natural 21 against a dealer Ace.
How does the Even money option work in blackjack?
If you have a blackjack and the dealer shows an Ace, you can take “even money” to lock a 1:1 payout immediately. This is mathematically equivalent to buying insurance and is usually negative EV for the player unless card counting indicates the dealer likely has blackjack less often than average.
Is taking Even money usually the best choice?
Generally no. While it removes variance, it sacrifices expected value versus waiting for the standard 3:2 blackjack payout. Over many hands, declining even money/insurance is optimal for most players. The exception is advantage play scenarios where deck composition raises the chance that the dealer does not also have a blackjack.
Why do roulette Even money bets still have a house edge?
Although red/black and other even-money outside bets pay 1:1, the presence of green zero(s) means the outcomes are not perfectly 50/50. Those extra pockets create slight imbalance, giving the casino its house edge over time, which steadily impacts bankroll management for any player who makes these wagers.
Can Even money bets help me clear casino bonuses?
Sometimes, but many casinos reduce contribution or exclude low-edge even-money bets (e.g., roulette outside bets, baccarat banker). Check wagering terms carefully. On 101RTP, our reviews and Bonus Value Score highlight which casinos and games count best for wagering, and which slots or stakes give the strongest chance to turn a bonus into cash.
Do casinos count all Even money bets equally toward wagering requirements?
No. Contribution varies by casino and game: some count Player in baccarat but reduce or exclude Banker; many limit roulette outside bets. Always read the terms. 101RTP’s honest reviews summarize contribution tables so you don’t waste play on bets that barely move wagering or that are outright ineligible.
How do bookmakers use Even money in sports betting?
In sportsbooks, “even money” corresponds to +100 (decimal 2.00). A $100 stake returns $100 profit if the bet wins. Note that the overall book still includes vigorish across all lines, so the market as a whole remains profitable for the bookmaker, similar in concept to the casino’s house edge.
About the Author
