Even Money Bet
A wager that pays out at a 1:1 ratio. If you bet £10 and win, you receive your £10 stake back plus £10 in winnings.
Even Money Bets are most commonly found in table games like Roulette. Examples include betting on Red/Black, Odd/Even, or High/Low (19-36).
While the payout is 1:1, it is important to note that the probability of winning is not exactly 50%. The presence of the green zero (or double zero in American roulette) gives the house a slight edge, making the true probability slightly less than 50%. This difference is the source of the House Edge on even money bets.
Formulas and examples
Example in Roulette:<br>- Bet: £10 on Red.<br>- Win: You get £20 back (£10 stake + £10 winnings).<br>- Lose: You lose your £10 stake.