Evens Betting Explained
When you visit a sportsbook, you will almost always encounter betting odds. But what do evens in betting mean? The term relates to the odds and means there’s a 50/50 chance of an event happening. Like roulette, this type of bet doubles your money and is quite a famous market in football derbies where the 2 teams are almost evenly matched.
What Is Evens Betting?
Betting on evens means putting money on evens odds – 2.00, or 1/1 in fractional odds. Evens in betting means there’s a 50/50 chance of something happening. For example, if you put £10 on Arsenal beating Chelsea at even odds, you’ll win £20 if it happens. Any other outcome will result in a loss.
Many punters like to use an evens betting system as it displays a perfect balance. This system poses less risk than a Superfecta bet in horse racing betting, offering much better value for your money. You can double your money easily on a whim, and it’ll be an even bigger payout if you build an evens calculator.
How Does Evens Betting Work?
Before placing your first evens bet, we’ll have to explain the betting odds. As mentioned earlier, a bookie will display these odds in three formats:
- 1/1 in fractional odds
- 2.00 in decimal odds
- Evens (EVS)
No matter which format you see, it means the same thing. When a bookie offers evens odds, it’s saying that the odds of a particular outcome are 50/50. If that same outcome is priced lower, it is called odds-on. Conversely, if an event is priced higher, it is called odds against. By betting on evens odds, you stand to double your money right away, which is perfect even with a minimum bet. You double your profit with a chance that’s not that big of a risk, making it an easy target for new and seasoned bettors.
How to Do Evens Betting
It’s not hard to bet on evens. All you need to do is find a reputable bookie, look at the odds on your favourite sport, deposit, and click on EVS or the respective odds. You will then stand to double your money if you win your bet. Evens is great for hedging bets – for example, you can bet on the opposite event and secure a profit if you’re unsure if your evens bet will be a win.
How to Calculate Evens Betting and Payouts
Calculating evens betting and payouts is as simple as it gets. Since you’re putting money on evens odds, the expected return is double. Of course, some bookies may take a commission out of it, but generally, it’s easy to calculate the possible payout of an evens bet.
Evens Betting Example
To put things into perspective, let’s check an example.
- Arsenal plays Chelsea, and a sportsbook gives the North London Gunners evens odds to beat Chelsea.
- Putting a bet of £10 on an Arsenal win means you will get £20 in return if the Gunners win.
- You lose the bet if Chelsea wins or the match ends in a draw.
Best Evens Bet of the Day
The best evens bet of the day is the wager with the highest possibility of winning. For avid betting enthusiasts, finding promising evens markets can significantly impact their wagering experience. Although finding evens markets is not difficult, knowing which wagers have good value is a different story. Experienced punters interested in this market do their research and analysis to determine if the bet has good value and a good winning chance. Once they spot one, they back it immediately to stand a chance of doubling their stake.
However, if you are unfamiliar with sports betting and still learning to find value wagers for yourself, many websites provide tips on evens bet of the day to punters. These websites typically go through the betting markets offered across all multiple sportsbooks to find the best predictions and tips for bets with 2.0 odds or higher.
That said, if you decide to use such services to find evens bet of the day with good value, you should note that sports betting is inherently unpredictable, and no prediction can be 100% guaranteed. So, ensure to exercise caution.
Free Bet for Evens Betting
An important thing every beginner needs to note about evens sports betting is that they can enjoy several bonus free bets online. To attract new punters to their websites, many bookmakers offer generous free bets that you can use to place wagers for profit.
These free bets work well for evens odds betting. You need to find a sportsbook that provides a good bonus offer with fair terms and join up. Once you do, you can use the free bets to explore the bookmaker’s evens odds wager markets.
The free bet will allow you to potentially win some decent profits and help reduce losses to your bankroll.
Best Evens Betting Markets
One of the best things about the evens market is that it applies to various sports. You will find several opportunities to bet on even money, from football to basketball, tennis, ice hockey, etc. Another upside to this option is its availability in many different sports markets. Let’s now take a look at some of these options.
Money Line (1×2)
The money line (1×2) market is the most basic type of wager on any sport. This market involves placing bets on the outcome of a game regarding which team will win. It also covers the possibility of the match ending with a tie result, which is quite common in football.
Moneyline is an excellent market for evens betting opportunities. When you explore this option at any sportsbook, you will find different events that feature 2.0 odds for its 1X2 outcomes or something around that mark, like 2.05, 2.10, 1.98, 1.92, etc. For example, in a sportsbook, you can find this 1X2 bet market for an English Premier League game between Chelsea and Liverpool.
Manchester City vs Crystal Palace
The “1” outcome that backs Chelsea to win is the evens odds wager here, which will potentially yield a $1 profit on every $1 you wager on it.
Another excellent option for evens betting on the sports scene is the totals (over/under) market. This bet type involves predicting the combined number of goals/points that will be scored in a game. Bookmakers will set a specific number for a game, and punters need to predict whether the total goals will be more or less than that.
Punters can find different totals (over/under) betting opportunities with evens odds when they place bets online. For example, a typical football game between the Spanish Bundesliga’s Bayern Munich and Dortmund can have a totals market like this:
|Over (2.5)||Under (2.5)|
Bayern Munich vs. Dortmund
The overbet with odds @ 2.0 is the evens bet here, and the game has to end with 3 or more total goals to yield $1 for every $1 bet.
Spreads and Asian Handicaps
Also known as the Asian handicap, the spread is an excellent market for punters to find evens betting opportunities. The essence of the handicap market is to spice up the typical match results wager by assigning an advantage to the underdog and a disadvantage to the underdog. Both teams must cover the spread before a bet on them can win.
Asian handicaps with relatively low spreads between 2.5 to 6.5 points produce possibilities almost equal to an evens bet in football games. It is also the same for most other sports with spread handicap markets. As such, you can wager on outcomes with 1.95, 2.05, 1.90, and 2.00 evens odds.
For example, a typical NBA game between the Milwaukee Bucks and the New York Knicks could have this handicap market.
|Milwaukee Bucks (-5.5)||2.0||1.75|
|New York Knicks (+5.5)|
The 1H option, which backs the Bucks to beat the Knicks with at least a 5.5 goal difference, is the evens odds bet. Winning this will bring about a $1 profit on every $1 wager you place.
What Are the Best Sports for Evens Bets?
Evens bets are available on any sport, but they’re particularly popular for football matches and horse races. You’ll most likely see them on these pages at online betting sites.
When it comes to particularly suitable markets, evens bets work best on moneyline, spreads, and totals. But before you start using this strategy, you should read a guide on what evens mean in football betting.
Football is undoubtedly the most popular sport with a worldwide fanbase. Due to this immense popularity, football betting has a massive market that covers many popular competitions and leagues, from the Premier League to La Liga, Bundesliga, and much more. One of the go-to markets for many punters in this sport is the evens bet option.
These bets can appear in moneyline match results, totals, point spread, double chance, and many other markets. For example, a sportsbook may offer 2.0 odds on Arsenal’s win if there is a matchup between them and Manchester United. By backing Arsenal, you would have placed an evens money wager.
Basketball is another excellent sport for evens bet. You can find markets with these odds during an NBA game or the matchups in the different basketball leagues worldwide. It can especially be the case when the teams playing are evenly matched. You can find it in money line match results, totals market, point spread, and other markets.
Another popular sport for providing even money odds to punters is table tennis, also known as ping pong. Like most sports, table tennis attracts much attention from a global fan base and provides different betting opportunities. As a result, you can find different evens money bets within the sport’s betting markets.
Evens betting in tennis typically covers the sports markets like match winner, set winner, and total points (over/under). For example, let’s say that Fan Zhengong and Wang Chuqin have an upcoming table tennis game. A sportsbook can set the odds on Wang Chuqin’s win at 2.00. To engage in an evens wager here, you must back Wang Chuqin, which will set you up to double your stake if your prediction proves right.
Punters can also find even money odds in hockey, one of the biggest sports in North America. The sport is also a favorite in many other countries across the world. You will find many betting opportunities for this sport, from the NHL to the KHL, SHL, DEL, etc. It occurs in moneyline match results, point spread, over/under, and many other markets, depending on the sportsbook.
Volleyball is another excellent sport popular for even odds betting, whether in international competitions or domestic leagues. The sport provides many opportunities for punters to find these odds and wager on them. You can find these odds in volleyball markets like moneyline winner, set winner, total points, set total points, handicap points, and others, depending on the sportsbooks.
Features of Evens Betting
Every bettor is looking to increase the chances of winning, and evens bets give you an excellent opportunity to win what you bet on. Sure, 50/50 isn’t the highest chance, but the more likely the outcome, the lower the return. With an evens bet, you’re getting a profitable, sizable double investment return while minimizing the risk of failure.
Should I Place an Evens Bet?
Absolutely. As we said, everyone’s looking for a way to secure or increase profits, and evens betting is one of the best ways to do it. Doubling your stake is a desirable and common goal among all bettors. Of course, you should always check the value before placing an evens bet. Sometimes, the winning probability is not as actual as you think, so you should evaluate several parameters before you put your money down.
Does Evens Betting Have Any Drawbacks?
Evens bets can get costly since the odds are higher than betting on a favourite. A 50/50 chance is good and pays double, but if you don’t recognize the real value, you will lose money on evens in betting.
What Does Evens or Greater Mean?
Before engaging in any free bets online, one important thing to note is that almost all offers come with terms and conditions. After all, bookmakers are in the business of making money, and giving out free funds with no strings would be counterintuitive. One such term is the minimum qualifying requirement wager a punter must place to qualify for free bets. That is why you typically find statements like “place a qualifying bet at odds of evens or greater to qualify” attached to some sportsbooks’ offers.
You must place bets at odds of at least evens 1/1 (2.00) or anything higher to get the free bets. Finding which markets qualify here is pretty straightforward. You must find good value bets with decimal odds of 2.00 or more, like 2.05, 2.1, 3.5, etc.
Odds of Evens Does Not Mean a 50% Chance of Winning
Another essential thing to note is that an evens market with 2.0 odds (i.e., 1/1 in fractional) does not necessarily mean it has a 50% chance of occurring. The 50% chance is the implied probability, which punters can easily calculate from the odds offered on any bet (100%/odds). However, this implied probability is not the actual likelihood of an outcome occurring. It is because sportsbooks will typically cut themselves some margin on every odd offered on any betting market to get a profit regardless of the outcome.
After all, bookmakers are in the business of making money. So, if you find a 2.0 evens odds bet with a 50/50 implied probability, the actual likelihood could be 48% or something around that mark. Any punter that has taken the time to observe the odds offered on any event will discover that the implied probabilities on all the possible options on any typical market always add up to a number greater than 100. The difference between a market’s true odds and the one bookmakers offer is their profit margin.
|Bet||True Probability||Betting Odds||Implied Probability|
A typical real-world example to truly explain this is the Super Bowl toss coin wager. We know the chance of the coin flipping to the head or tail is 50/50. However, no sportsbook will offer you a bet on this market with 2.0 evens odds (i.e., 1/1 in fractional form). Instead, they may offer 12/13 odds (i.e., 1.923 in decimal), which has a 52% implied probability for each side. The total probability of these two outcomes is now 104%, higher than the expected 100%. The 4% difference here is the profit margin the bookmakers get to keep for themselves on every evens bet you find.
Why Should You Place an Evens Bet?
Evens betting has excellent value if you’re sure you can double your bets. If the odds fit and the value is good, you should place an evens bet. Seeking more profit than doubling your bet is challenging, but the winning probability decreases. Of course, sports betting is nothing specific, so we recommend doing your research.
With evens betting, you get excellent value for your money, but only if you evaluate other parameters that will lead you to your goals. We hope our evens betting explained guide helped you understand what it’s all about and why it’s worth a try.
Frequently Asked Questions
What does evens mean in betting?The evens betting meaning is clear. You’re doubling your stake by betting on a 50/50 chance, which is about the same as you get when betting on roulette.
What odds are evens?Evens odds are priced at 1/1 for fractional odds or 2.00 in decimal. Most bookies will write EVS or Evens for this bet.
What is an even bet called?An even bet is called even money. You will see this term at sportsbooks and casinos in games with 50/50 bets.