'Smart money' definitions:

Definition of 'smart money'

From: WordNet
noun
Money bet or invested by experienced gamblers or investors (especially if they have inside information)
noun
(law) compensation in excess of actual damages (a form of punishment awarded in cases of malicious or willful misconduct) [syn: punitive damages, exemplary damages, smart money]
noun
People who are highly experienced or who have inside information; "the smart money said Truman would lose the election"

Definition of 'Smart money'

From: GCIDE
  • Smart \Smart\, a. [Compar. Smarter; superl. Smartest.] [OE. smerte. See Smart, v. i.]
  • 1. Causing a smart; pungent; pricking; as, a smart stroke or taste. [1913 Webster]
  • How smart lash that speech doth give my conscience. --Shak. [1913 Webster]
  • 2. Keen; severe; poignant; as, smart pain. [1913 Webster]
  • 3. Vigorous; sharp; severe. "Smart skirmishes, in which many fell." --Clarendon. [1913 Webster]
  • 4. Accomplishing, or able to accomplish, results quickly; active; sharp; clever. [Colloq.] [1913 Webster]
  • 5. Efficient; vigorous; brilliant. "The stars shine smarter." --Dryden. [1913 Webster]
  • 6. Marked by acuteness or shrewdness; quick in suggestion or reply; vivacious; witty; as, a smart reply; a smart saying. [1913 Webster]
  • Who, for the poor renown of being smart Would leave a sting within a brother's heart? --Young. [1913 Webster]
  • A sentence or two, . . . which I thought very smart. --Addison. [1913 Webster]
  • 7. Pretentious; showy; spruce; as, a smart gown. [1913 Webster]
  • 8. Brisk; fresh; as, a smart breeze. [1913 Webster]
  • Smart money. (a) Money paid by a person to buy himself off from some unpleasant engagement or some painful situation. (b) (Mil.) Money allowed to soldiers or sailors, in the English service, for wounds and injures received; also, a sum paid by a recruit, previous to being sworn in, to procure his release from service. (c) (Law) Vindictive or exemplary damages; damages beyond a full compensation for the actual injury done. --Burrill. --Greenleaf.
  • Smart ticket, a certificate given to wounded seamen, entitling them to smart money. [Eng.] --Brande & C. [1913 Webster]
  • Syn: Pungent; poignant; sharp; tart; acute; quick; lively; brisk; witty; clever; keen; dashy; showy.
  • Usage: Smart, Clever. Smart has been much used in New England to describe a person who is intelligent, vigorous, and active; as, a smart young fellow; a smart workman, etc., conciding very nearly with the English sense of clever. The nearest approach to this in England is in such expressions as, he was smart (pungent or witty) in his reply, etc.; but smart and smartness, when applied to persons, more commonly refer to dress; as, a smart appearance; a smart gown, etc. [1913 Webster]