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"smart money" Meaning in English

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

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