1. (

• smart_money

) money bet or invested by experienced gamblers or investors (especially if they have inside information) ;

2. (

• punitive_damages ,
• exemplary_damages ,
• smart_money ,

) (law) compensation in excess of actual damages (a form of punishment awarded in cases of malicious or willful misconduct) ;

3. (

• smart_money

) people who are highly experienced or who have inside information; "the smart money said Truman would lose the election" ;