smart money

money invested or wagered by experienced investors or bettors.

such knowledgeable investors or bettors.

Law. punitive or exemplary damages.

Origin of smart money

First recorded in 1685–95

She was also the next in line, the establishment candidate, the smart-money pick.

John Avlon: Mitt Romney’s Campaign Is Becoming a Sinking Ship |John Avlon |December 1, 2011 |DAILY BEAST
In this market, almost every other smart-money investment in a financial institution is far under water.

Meet The One Guy Who's Making Money Right Now |William D. Cohan |October 29, 2008 |DAILY BEAST
My father paid the smart-money, my mother cried, and I was lugged home.

Mated from the Morgue |John Augustus O'Shea
He had an idea that if he managed to pay the smart-money before Jacob was sworn in, the lad might escape with little difficulty.

The Life of Thomas Wanless, Peasant |Alexander Johnstone Wilson

The certificate from a captain and surgeon, by which only the smart-money is obtainable.

The Sailor's Word-Book |William Henry Smyth
Smart, smrt, n. quick, stinging pain of body or mind: smart-money: a dandy.

Chambers's Twentieth Century Dictionary (part 4 of 4: S-Z and supplements) |Various

smart money

money bet or invested by experienced gamblers or investors, esp with inside information
the gamblers or investors themselves

money paid in order to extricate oneself from an unpleasant situation or agreement, esp from military service

money paid by an employer to someone injured while working for him

US law damages awarded to a plaintiff where the wrong was aggravated by fraud, malice, etc