Smart money Meaning, Definition & Usage

  1. noun money bet or invested by experienced gamblers or investors (especially if they have inside information)
  2. noun (law) compensation in excess of actual damages (a form of punishment awarded in cases of malicious or willful misconduct)
    exemplary damages; punitive damages.
  3. noun people who are highly experienced or who have inside information
    • the smart money said Truman would lose the election

WordNet


Definitions
  1. . (a) Money paid by a person to buy himself off from some unpleasant engagement or some painful situation . (b) (Mil.) Money allowed to soldiers or sailors, in the English service, for wounds and injures received; also, a sum paid by a recruit, previous to being sworn in, to procure his release from service . (c) (Law) Vindictive or exemplary damages; damages beyond a full compensation for the actual injury done. Burrill. Greenleaf.

Webster 1913