Evens Betting Term Meaning

Evens is a betting term that relates to the odds given by the bookmaker for a bet selection within a betting market of an event. A horse could be evens to win its race and the over 2.5 goals market in a football match between Norwich and Ipswich might be evens as well, for example.

When the bookmaker prices something as evens, it is effectively saying it’s 50/50. Anything that is priced lower than evens is called odds on and prices that are higher than evens are classed as odds against. 

Depending on the betting site, evens may appear as 1/1. In decimal odds it is 2.00. Other names for evens are levels and scotch.

Should I Place An Evens Bet?

An evens bet is a wager placed at odds of 2.00. This is seen by many as the perfect combination of risk and payoff, as it will yield a profit equal to your stake if your selection is a winner. If you exclusively bet on evens, you only have to win 50% of the time to keep your bankroll in the green. 

The downside of evens bets is that they are still quite risky, which isn’t surprising as the bookie thinks the chances of winning are the same as a toss of a coin. Certain evens bets are more appealing than others. 

For example, the home team could have odds of 2.00 to win at bet365, while the away team could have odds of 4.50 or more. 

That would make the home team favourites, and the evens bet is pretty tempting at these prices. Another scenario could have one side at evens and the other at 2.60, which is too close to pick a clear winner.
One method to evaluate the risk level of an evens punt is to add up the number of possible winners or outcomes. For instance, if a golfer is evens to win a tournament and there are another 71 players in the field, you know that this player is the clear favourite. 

The other end of the spectrum would be a rugby match that had one team at evens, the other slightly above and an outside bet on the draw. 

How Is An Evens Bet Calculated?

Let’s say you bet £10 on Bournemouth to beat Newcastle at odds of 2.00 in the English Premier League. That means that your expected payout is £10 x 2.0 = £20, which is your £10 stake returned plus £10 profit. 

As with all wagers, you can combine multiple evens bets together if you want bigger profits. If you built a straight treble and used a £10 stake, the payout would be: 2.0 x 2.0 x 2.0 = £80 return (£70 profit). 

If you pick the right selections, you can really boost your bankroll betting at this price, but don’t get too greedy. The bookie has priced it at 50/50 for a reason, so you must expect to lose as many as you win over the long-term.

Evens FAQ

What is evens in betting?

Evens is a betting term used when bookmakers offer a price at 2.00 or even money. Anything priced lower is called odds on and prices higher are called odds against.