Even money is a gambling term describing a wagering proposition in which the odds are even -- in other words, if one were to lose the bet, one stood to lose the same amount of money that the winner of the bet would win (less, of course, the vigorish or "juice"). Gambling (or betting) is any behavior involving risking money or valuables (making a wager or placing a stake) on the outcome of a game, contest, or other event in which the outcome of that activity depends partially or totally upon chance or upon ones ability to do something. ... Proposition is a term used in logic to describe the content of assertions, content which may be taken as being true or false, and which are a non-linguistic abstraction from the linguistic sentence that constitutes an assertion. ... In probability theory and statistics the odds in favor of an event or a proposition are the quantity p / (1 − p), where p is the probability of the event or proposition. ... Vigorish, or simply the vig, or juice, is the amount kept by a bookmaker for his services. ...

The term has come to have meaning in the wider English usage beyond actual gambling, however, as a way of describing an event whose occurrence is somewhat likely to happen, but far from inevitable, as in "It's even money that it will rain today." The English language is a West Germanic language that originates in England. ...