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Definition of 'smart money'


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

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