fair odds
Balanced betting likelihood
Fair odds are betting terms that accurately reflect the true probability of an outcome, with no built-in advantage for either party.
If a coin flip has 50-50 chances, fair odds would be even money (1:1).
In practice, bookmakers rarely offer fair odds—they shade the line in their favor, which is how they profit.
At fair odds, neither the bettor nor the house has an edge.
- evenUniform and level
- chanceLikelihood of occurrence
- fighting chanceSmall but real possibility
- gambleStake on uncertain outcome
- fifty-fiftySplit equally between two
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Unfavorable probability ratio
long shot · slim chance · outside chance · snowball's chance · even money
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Predetermined betting payouts
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Guaranteed outcome or agreement
certainty · foregone conclusion · lock · safe bet · done deal
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