Even money means a bet pays 1 to 1: win, and you get your stake back plus the same amount again, so £10 returns £20. Red or black in roulette, the Player bet in baccarat and an ordinary blackjack win all pay even money. The catch is that none of these bets wins quite half the time, and that gap is the house edge.
Even money pays 1 to 1: a £10 win gives £10 profit plus your stake back.
Red or black wins 18 times in 37 on a single-zero wheel, a little under half.
French La Partage rules cut the roulette even-money edge from 2.70% to 1.35%.
In blackjack, taking even money on a blackjack is insurance in disguise, and basic strategy says no.
Payout
1 to 1 (evens)
£10 winning bet returns
£20 (£10 profit)
Red/black win chance
18/37 (48.65%) single zero
House edge
2.70% single zero, 1.35% with La Partage
Decimal odds
2.0
What even money means
An even-money bet pays winnings equal to your stake. In fractional odds that is 1/1, often said as evens; in decimal odds it is 2.0, because the total return is twice the stake. Our guide to odds formats shows how the three styles line up. In casino games, even money is the most common payout of all: it covers the big outside bets in roulette, most hands in blackjack and the Player bet in baccarat.
Even-money bets compared: odds and house edge
A fair even-money bet would win exactly half the time. Casino versions always fall short, and the shortfall sets the price:
Common even-money bets (house edges from Wizard of Odds)
Bet
Win chance
House edge
Average cost per £10
Red/black, single zero
18/37 (48.65%)
2.70%
27p
Red/black, La Partage
18/37, half back on zero
1.35%
13.5p
Red/black, double zero
18/38 (47.37%)
5.26%
52.6p
Baccarat Player
Pays 1 to 1
1.24%
12.4p
Craps Pass line
Pays 1 to 1
1.41%
14.1p
Sic Bo Big or Small
48.61%
2.78%
27.8p
Roulette figures come from Wizard of Odds’ roulette basics (opens in a new tab). The Banker bet in baccarat is close to even money but not quite: it pays 19 to 20, which is even money less a 5% commission.
Even money example: 100 spins on red
Bet £5 on red for 100 spins on a single-zero wheel. You stake £500 in total, and the expected loss is £500 × 2.70% = £13.50. On average you would win 48.65 spins and lose 51.35, a difference of about 2.7 spins at £5 each. In real sessions, results swing widely around that figure, but the average does not move. With La Partage, half your stake comes back on zero, and the same 100 spins cost about £6.75 on average.
Even money in blackjack: should you take it?
Blackjack uses the phrase in a special way. When you have a blackjack and the dealer shows an ace, you may be offered even money: a fixed 1 to 1 payout straight away, instead of 3 to 2 if the dealer doesn’t have blackjack and a push if they do. This is insurance under another name, and Wizard of Odds’ basic strategy (opens in a new tab) says never take insurance or even money.
The maths, on a £10 bet from a large shoe: taking even money pays £10 every time. Declining, the dealer has a ten-value card underneath 4 times in 13, which pushes (£0), and 9 times in 13 you win £15. That averages 9/13 × £15 = about £10.38, so declining is worth around 38p more on average.
Blackjack v dealer ace: take even money or decline (£10 bet)
Choice
Dealer has blackjack (4/13)
Dealer doesn’t (9/13)
Average result
Take even money
+£10
+£10
+£10.00
Decline
£0 (push)
+£15
+£10.38
Ordinary winning blackjack hands also pay even money. Some tables pay a blackjack itself at even money, which Wizard of Odds says costs the player 2.27% compared with 3 to 2. Read our blackjack payouts page before you sit down.
How to place an even-money roulette bet
Choose a single-zero table, or a French table with La Partage if available.
Put your chip on red, black, odd, even, 1–18 or 19–36 on the outside of the layout.
Win and you are paid 1 to 1; lose on zero unless French rules return half.
Set a session budget first, because even-money bets lose slowly but steadily.
Even-money betting is also where systems such as the Martingale are usually tried. None of them changes the edge on each bet.
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Frequently asked questions
What does even money mean in betting?
Even money means a bet pays 1 to 1, so you win the same amount you staked and get your stake back as well. A £10 even-money win returns £20 in total. It is written 1/1 or evens in fractional odds and 2.0 in decimal odds. Our page on fractional and decimal odds explains how to convert between formats.
Which roulette bets are even money?
Red, black, odd, even, 1–18 and 19–36 are the even-money roulette bets. Each covers 18 numbers and pays 1 to 1. On a single-zero wheel each wins 18 times in 37 (48.65%), and all lose when zero lands unless French rules apply. See our roulette outside bets guide for the full list.
Should I take even money in blackjack?
No. Wizard of Odds’ basic strategy says never take even money or insurance. When you hold blackjack against a dealer ace, declining is worth about £10.38 on average on a £10 bet, against a flat £10 for taking even money, using large-shoe odds. Even money feels safe, but it costs you over time. Our answer to is insurance ever worth it in blackjack covers the details.
Is an even-money bet a 50/50 chance?
No, casino even-money bets always win a little less than half the time. Red on a single-zero wheel wins 48.65% of spins because zero is neither red nor black, and on a double-zero wheel it falls to 47.37%. That small gap is the house edge. Our page on casino probability basics shows how these chances are worked out.
What is the best even-money bet in a casino?
Among common even-money bets, the baccarat Player bet (1.24% edge), the craps Pass line (1.41%) and roulette even-money bets with La Partage (1.35%) cost the least. Standard single-zero roulette is 2.70%, and double-zero is 5.26%. These are long-run averages; none guarantees a profit. Our list of casino games with the best odds compares more options.
Does La Partage apply to all even-money bets?
It applies to the six even-money roulette bets on tables that use French rules. When zero lands, you get half your stake back instead of losing it all, which halves the edge to about 1.35%. Inside bets, dozens and columns keep the 2.70% edge. Check the game’s help screen. Our La Partage rule page has the full maths.
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