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Definition of: smart money
1. Law Damages awarded against a defendant because of great aggravation attending the wrong committed.
2. Colloq. Money paid for a release from an engagement or from a painful situation.
3. Money paid by an employer to a workman injured in his service.
4. Brit. Money allowed to soldiers or sailors for injuries received in the service.
5. Money bet by gamblers who supposedly know the result of a contest before-hand.
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