|1.||[ noun ] (law) compensation in excess of actual damages (a form of punishment awarded in cases of malicious or willful misconduct)|
|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)|
|3.||[ noun ] people who are highly experienced or who have inside information|
"the smart money said Truman would lose the election"