The term 50-50, e.g. can be expressed in two ways: as a three letter word, 'TIE', or as a ten letter phrase, 'EVENSTEVEN'. 50-50 is a term used to describe a situation where two parties have equal shares, or an even split. It is often used in business and legal contexts, such as when two parties are negotiating a contract or splitting the cost of something. It is also used in sports, such as when two teams are tied in a game.