double or quits

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ˌdouble or ˈquits

(British English) (American English ˌdouble or ˈnothing) (in gambling) a risk in which, if you lose you will have to pay twice the amount of money you owe, or if you win, will not owe anything
Quits means that two people are now equal and do not owe each other anything, especially money.
See also: double, quits