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Evens Betting Explained

Evens

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.

In this guide to evens betting, we’ll explain more about the term’s meaning, how it works, and why it’s so popular among bettors.

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.

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.

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.

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.

Rebecca Martin
Writer & Media

Rebecca is a Liverpool gal and a big fan of the club. She likes nothing more than sharing tips and predictions on sports betting. Her other favorite sports include horse racing, snooker, and golf. Rebecca is in charge of writing and media at BetZillion. You can thank her for making our articles look so great.

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