Even bets refer to wagers or bets that have an equal probability of winning or losing, typically referred to as 50/50 propositions. It means that the chances of an outcome occurring are equally likely, such as flipping a coin and predicting heads or tails.
Note: The provided meaning of the answer is for the latest New York Times crossword puzzle clue: 50/50 propositions. Explanations are generated by AI and may be inaccurate.