What is 'Evens' in Betting? A Simple Guide for Beginners

WHAT IS 'EVENS' IN BETTING?

• WHAT DOES ‘EVENS’ MEAN IN BETTING?
• HOW ‘EVENS’ COMPARES TO OTHER ODDS
• EXAMPLES OF ‘EVENS’ IN SPORTS BETTING
• PROS AND CONS OF BETTING AT EVENS
• TIPS FOR BETTING ON EVENS
• “EVENS” WRAPPED UP

Whether you're betting on soccer, placing a rugby bet, or taking a punt on a horses bet, understanding Evens can help you make more informed betting decisions. Here, we will break down what exactly Evens means in betting, how it compares to other odds that you may come across, and how you can utilise it effectively in your sports betting.

WHAT DOES ‘EVENS’ MEAN IN BETTING?

‘Evens,’ also known as even money, is a simple bet where the potential winnings are equal to the amount staked. It is important to also understand that “Evens” is represented differently across the different types of betting odds; in fractional odds, it is written as 1/1, in decimal format, it appears as 2.00, while in American odds it is displayed as +100.

For example, if you were to place a €10 bet at evens and win, you receive€10 in winnings plus your original €10 stake back, giving you a total return of €20. This can make placing an Evens bet an attractive choice for punters who are new to betting, and want to avoid overly complicated odds and calculations.

HOW ‘EVENS’ COMPARES TO OTHER ODDS

As the name suggests, Evens occupies a space firmly in the middle of the odds spectrum, but what does that mean for punters? Let's take a look at how it compares to other odds.

Odds-on bets, such as 4/5 or 1.80, mean you need to stake will be more than your potential winnings. You will usually find these when you see match-ups where there are strong favourites. As a result, odds-on bets are placed on teams or individuals that have are believed to have higher probability of winning.

On the other hand, odds-against bets, like 5/2 or 3.50, offer higher payouts than your stake. However, the reason for this return is that these bets are considered to have a considerably lower likelihood of winning.

EXAMPLES OF ‘EVENS’ IN SPORTS BETTING

OK, so that’s the theory. However, to better understand how Evens works it is best to consider some practical examples.

Consider soccer for a moment. Where there is a match between two evenly matched teams, you may find there are Evens odds on either team winning. If the teams have similar form and squad strength, bookmakers may set Evens odds, indicating that either side has an equal chance of victory.

In rugby, games featuring close contests, such as the Springboks facing the All Blacks, you could see Evens odds on South Africa securing a victory. Since both teams are known for their strength, bookmakers might price the match-up at Evens to reflect the balanced nature of the contest.

PROS AND CONS OF BETTING AT EVENS

One of the biggest advantages of betting at Evens is its simplicity, making it an easier bet for beginners to understand. Since the risk is lower compared to longer odds, it’s often seen as a safer bet – although it must be remembered the there is an “even” chance of the bet losing! Many experienced punters also appreciate Evens bets when there research leads them to believe that a selection is undervalued and offers better potential returns than it shows.

However, the downside is that the potential returns are, of course, lower than odds-against bets. A punter searching for higher payouts might find Evens bets unappealing due to the modest winnings.

TIPS FOR BETTING ON EVENS

For punters to out themselves in a positon to be successful with the bet, it is vital that they look for value, rather than just blindly accepting “Evens” odds. What this means is that, while “Evens” implies a balanced bet, this is not always the case. Indeed, form, injuries, suspensions, weather conditions and the context of a game are all factors that could affect the math-up, and possiblecreate value in an Evens bet.

Another key factor to consider is the movement in the betting markets. If Evens odds begin to noticeably drift and the get longer, it could be an indicator that either punters or insiders believe they have information that could affects the perceived chances of an outcome occurring. On the other hand, if odds markedly shorten, it may be an indicator that a selection is gaining strong support.

“EVENS” WRAPPED UP

Evens is one of the simplest betting odds to understand and offers a bet that is balanced when it comes to risk-to-reward. Regardless if you are a experienced punter, or placing your first bet, knowing when to place a bet at Evens is a useful tool to have in your betting strategy .

Taking into account value, being aware of  market movements, and even taking advantage of any betting promotions, of bookmaker promotions, can all help you to make an Evens bet with confidence, and possibly even extract some value from the market!