even money

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


even-money, adjective
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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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.
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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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