In the context of football, handicap odds rebalance the playing field by taking into account the difference in perceived strength between players by literally applying a goal handicap, positive and negative, for each team. This gives punters the opportunity to win more than if they were backing a big favourite in a classic 1X2 bet which is the most common form of betting in football.
The handicap is applied to the final result of the game in order to note the bet. There are three types of handicap betting that you should be aware of before betting:
A level handicap occurs when no difference in skill is perceived between team X and team Y, so no handicap bias is assigned, and both teams start at 0.
To win a bet, the bettor must identify the team that scores more goals than their opponent. This type of handicap is not relevant for one-sided games, but it is useful in that it avoids draws; if the game ends in a tie, all bets will be refunded, as without a handicap neither team has the advantage.
A simple handicap occurs when there is a perceived difference in skill between team X and team Y. An appropriate goal handicap will be assigned to the supposedly superior team to rebalance the betting odds, for example: -0.5 goal, -1 goal, -1.5 goal and etc.
A shared handicap occurs when the difference in skill between the two teams is small; which allows you to split your bet between two handicaps.
A shared handicap occurs when the difference in skill between the two teams is small; which allows you to split your bet between two handicaps. For example, team X can be offered at (0 and -0.5). If you bet on Team X and they lose, you will lose both bets as they do not cover any of the handicaps.
If the match ends in a draw, half of your stake at (0) will be refunded and the other half at (-0.5) will be lost. However, if Team X wins, both handicaps are covered, so both bets win.
If you settle for the old-fashioned triple fixed bet type bets, you are probably not getting a good return on your investment, and your bets could benefit from the new perspective offered by handicap betting in football.