even money

noun
1.
the equal sum staked by each bettor.
2.
equal odds in a wager: It's even money that the home team will win.

Origin:
1890–95

even-money, adjective
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To Even money
American Heritage
Idioms & Phrases

even money

Equal odds that something will occur, as in It's even money that he'll get the contract. The term comes from gambling, where it signifies equal odds in a bet. [Late 1800s]

The American Heritage® Dictionary of Idioms by Christine Ammer.
Copyright © 1997. Published by Houghton Mifflin.
Cite This Source
Example sentences
There wasn't even money available to take care of the algal collection that had
  been so painstakingly created.
They're looking for get-even money, betting money or getaway money.
She has the right strategy provided it's an even money bet.
And participants who had had short avatars accepted less-than-even money more
  often than the tall ones.
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