1. [ noun ] (law) compensation in excess of actual damages (a form of punishment awarded in cases of malicious or willful misconduct)
Synonyms: exemplary_damages punitive_damages
Related terms: damages treble_damages double_damages law
2. [ noun ] (business) money bet or invested by experienced gamblers or investors (especially if they have inside information)
Related terms: speculation
3. [ noun ] people who are highly experienced or who have inside information

"the smart money said Truman would lose the election"

Related terms: people
Similar spelling:   smartness