What Does ‘Evens’ Mean in Betting?
In sports betting, “Evs” is the abbreviation for “Evens” or “Even Money.” It represents a bet that will pay out exactly the amount you wagered, plus your original stake back.
Essentially, an Evens bet is a 50/50 proposition. If you win, you double your money.
How “Evs” is Represented in Different Odds Formats
The concept of an even money bet is expressed differently depending on the odds format you are using:
- American/Moneyline Odds (USA): An Evens bet is shown as +100. The plus sign indicates how much profit you make on a $100 wager. So, a $100 bet at +100 odds wins you $100 in profit.
- Fractional Odds (UK): This is where the “Evs” abbreviation is most common. It is written as 1/1. This means you win £1 for every £1 you bet.
- Decimal Odds (Europe/Global): An Evens bet is represented as 2.00. This number includes your original stake, so a £10 bet at 2.00 odds returns £20 (£10 profit + £10 stake).
Implied Probability
An “Evs” or 1/1 bet has an implied probability of 50%. This suggests that the bookmaker believes there is an equal chance of the event happening or not happening.
Coin Toss Example:
Imagine you are betting on a coin toss, a perfect 50/50 scenario. A bookmaker offers you odds on the outcome.
- Bet: You place a £10 bet on “Heads” at Evs (1/1).
- If it lands on Heads (you win): You get back £20 in total – your £10 profit plus your original £10 stake.
- If it lands on Tails (you lose): You lose your £10 stake.
You will often see Evs odds for things like the winner of a tennis match between two very equally matched players, or on a point spread where both sides are considered to have an equal chance of covering.