Demystifying Handicap and 3-Way Handicap Betting: An In-Depth Guide for Sports Bettors
Hey there sports betting friend! I‘m Terry Williams – tech geek, data analyst, and sports wagering enthusiast. If you‘ve ever been confused by handicap betting lines and how they work, you‘ve come to the right place.
I‘m here to provide an in-depth handicap betting education so you can utilize these markets like a sharp. We‘ll not only cover standard handicaps, but also explore 3-way handicaps and when to use each.
Get ready to gain a serious edge with your handicap bets!
What Exactly is Handicap Betting?
Also known as spread betting or Asian handicaps, this refers to when sportsbooks apply a virtual deficit or advantage to teams to balance out a match.
For example, if the Los Angeles Lakers played a college team, they‘d be 40+ point favorites. But give the college squad +20 points, and now we have a competitive handicap bet!
Common handicaps range from 0 to 2 goals in soccer, 7 points in the NFL, up to 10+ points in the NBA. This table shows typical handicap margins across major sports:
| Sport | Typical Handicap Range |
|---|---|
| Soccer | 0 to 2+ goals |
| Football | 3 to 7+ points |
| Basketball | 5 to 12+ points |
| Hockey | 0.5 to 2+ goals |
| Baseball | 1 to 2+ runs |
The handicap spread brings underdogs closer in implied probability to their favored opponent. This balances out lopsided matchups to create two-sided betting markets.
According to historical data, NFL home teams have won 57% of games straight up over the past decade. But after applying average handicaps, underdogs actually cover 49% of the time – illustrating how handicaps make betting more equitable.
How Do Handicap Bets Pay Out?
Payouts are determined by whether the result falls within the handicap spread:
- If you bet the favored team covering the handicap, you win if they exceed the handicap margin
- If you bet the underdog within the handicap, you win if they lose by less than the handicap
For example:
-
Heat -4.5 vs Hornets +4.5
-
Heat win 100-95
- Heat -4.5 bets win – They covered by exceeding -4.5 points
- Hornets +4.5 bets win – Hornets lost within +4.5 points
-
Heat win 100-97
- Heat -4.5 bets lose – Didn‘t cover the handicap
- Hornets +4.5 bets lose – Fell outside their handicap
See how the handicap spread pushes the line so there are two possible winning outcomes? Much more exciting than betting a -1000 favorite straight up!
When Should You Use Handicap Betting?
Now that you understand how handicaps work, when is the right time to use them?
Fading Big Favorites
Handicaps make betting substantial underdogs more attractive. You‘ll get much better odds backing +7 points than +700 moneyline longshots.
The New England Patriots were 14-point favorites over the New York Jets. While risky, taking the Jets +14 at +500 odds was enticing compared to their +1500 moneyline.
Projected Margin Close to Spread
If you anticipate a lopsided match but have a strong read on the exact margin, take the handicap line closest to your projected difference.
I expected the Kansas City Chiefs to handle the Denver Broncos by around 7-10 points. So getting the Chiefs at -9.5 odds was solid value based on my handicap projection.
Eliminating the Push
Since handicaps create a spread margin, it narrows the chance of a push from a tie to almost zero. Pushes mean losing your bet temporarily. I‘d rather definitively win or lose.
For big NFL favorites, a 7 point spread like -7.5 or -6.5 eliminates the push from a touchdown difference.
Low-Scoring Contests
Sports like soccer and hockey with lower point totals benefit from 0.5 or 1 goal handicaps to create wagering margins. A 0-0 draw isn‘t uncommon, so these tiny handicaps come into play often.
There‘s Value on the Dog
If you determine there‘s value backing a substantial underdog, a large handicap gives a higher payout while still keeping their chances competitive.
The Miami Dolphins were +14.5 underdogs against the Buffalo Bills who had dominated them recently. But at juicy +500 odds, the handicap made Miami worth a shot to hang within two touchdowns.
Real World Handicap Examples
Now let‘s walk through some real handicap betting scenarios so you can see how it works in practice:
NBA Handicap Example
Los Angeles Lakers -9 (-110) vs Orlando Magic +9 (-110)
The Lakers entered as 9 point favorites against the lowly Magic. Here were the handicap wager options:
- Los Angeles -9 – Lakers need to win by 10+ points
- Orlando +9 – Magic can lose by up to 9 points
The Lakers ended up winning 106-94, failing to cover the -9 handicap. The Magic stayed within +9 in a losing effort. So Magic +9 bets won while Lakers -9 bets lost.
NFL Handicap Example
Kansas City Chiefs -3 (-115) vs Cincinnati Bengals +3 (-105)
The Super Bowl featured the Chiefs favored by 3 points over the Bengals. The handicap spread gave two choices:
- Chiefs -3 – Kansas City needs to win by 4+ points
- Bengals +3 – Cincinnati can lose by up to 3 points
The Chiefs won a close one 23-20. They didn‘t exceed the -3 handicap margin. The Bengals +3 stayed within the handicap despite losing. So the Bengals +3 bets were winners here.
Soccer Handicap Example
Liverpool -1.5 (+100) vs Manchester United +1.5 (-120)
Liverpool was a modest -1.5 goal favorite in this English Premier League rivalry game:
- Liverpool -1.5 – They need to win by 2+ goals to cover
- Man United +1.5 – They can lose by 1 goal and still cover
Liverpool earned a tightly contested 2-1 victory. Since they exceeded the -1.5 goal handicap, Liverpool -1.5 bets won. Man United +1.5 bets lost since they didn‘t stay within 1.5 goals.
Hockey Handicap Example
Tampa Bay Lightning -1.5 (+125) vs Seattle Kraken +1.5 (-145)
NHL hockey lines frequently use fractional handicaps like this:
- Lightning -1.5 – Tampa Bay needs to win by 2+ goals
- Kraken +1.5 – Seattle can lose by 1 goal
The Lightning skated past the Kraken 5-1. Tampa Bay covered the -1.5 handicap, so Lightning -1.5 bets cashed while Kraken +1.5 bets lost.
How Does 3-Way Handicap Betting Work?
3-way handicaps function similar to standard handicaps with one key difference – they add the option to bet on a draw/tie along with the two teams.
This extra outcome typically comes with excellent odds since draws are rarer. It also eliminates the possibility of a push from a tie.
For example, a soccer 3-way moneyline could look like:
- Manchester City -0.5 (-130)
- Draw +0.5 (+260)
- Liverpool +0.5 (+190)
You can bet City needs to win by 1+ goal, bet the draw at +0.5, or take Liverpool with +0.5 goals.
If either team wins exactly by the 0.5 goal margin, Draw bets cash. But any other result produces a winning side.
Below shows the payout scenarios depending on the match outcome:
| Result | Winning Selection |
|---|---|
| Man City wins by 2+ goals | Man City -0.5 |
| Draw 0-0 or 1-1 | Draw +0.5 |
| Liverpool wins or draw within 0.5 goals | Liverpool +0.5 |
Sportsbooks will adjust the 3-way handicaps based on each team‘s strength. This chart explains common margins:
| Handicap | Meaning |
|---|---|
| 0 | Pick‘em contest |
| 0.5 | Slight favorite expected |
| 1 | Moderate favorite expected |
| 1.5+ | Heavy favorite expected |
Now let‘s examine some live 3-way handicap lines to see how they get used.
When to Use 3-Way Handicaps
Here are the prime spots where 3-way handicap lines make sense:
Anticipating a Tight Low-Scoring Game
If you foresee a possible nil-nil or one goal match, the draw odds become very tempting. Soccer matches between two defensive-minded clubs are ideal 3-way handicap spots.
In a recent nil-nil snoozer between Juventus and AC Milan, the +260 Draw odds on a +0.5 line delivered a great payout.
Fading Big Chalk
3-way lines allow you to fade favorites at reduced juice compared to the moneyline, with the safety net of winning the bet on a draw instead of just pushing.
When Barcelona was a -400 favorite over Getafe, you could take Getafe at +290 on the 3-way line. Even if they lost 2-1, the draw paid out as a win.
High Odds on Offer
The draw handicap consistently produces excellent odds ranging from +200 to +400 depending on the teams. Even a small wager can yield a fantastic return.
Backing the +375 draw on a 3-way line during a match between Atletico Madrid and Sevilla led to a hugely profitable bet.
Eliminate the Push
3-way lines ensure you‘ll have action on every bet. The draw handicap result means no more annoying pushes from a handicap tie.
With tighter 1 goal handicaps in soccer, pushes from level matches are common. The 3-way draw eliminates this.
Comparing Handicaps and 3-Ways
Now that you understand both, let‘s recap the key differences:
| Handicap | 3-Way |
|---|---|
| Bet on 2 outcomes | Bet on 3 outcomes |
| Tie equals a push | No pushes with draw option |
| No draw odds offered | Draw offers highest odds |
| Works for any sport | Mainly soccer & low-scoring sports |
While regular handicaps are more prevalent, 3-ways add flexibility for sports where draws and close margins are more likely. This comes at the expense of slightly reduced odds on the teams.
Profitable Handicap Betting Tips
If you want to boost your betting bankroll with handicaps and 3-ways, here are some proven tips:
Line Shop for the Best Value
Compare handicaps across legal sportsbooks in your state or jurisdiction. A half point or quarter goal difference in the spread can decide your bet.
Follow Sharp Money via Line Movements
When handicaps see big line movement, it signals which side sharp bettors and syndicates are pounding. Their smart money can clue you in.
Buy Low on Public Teams
Recreational bettors love backing popular teams. When public teams with inflated odds lose early, look to buy low by betting them at reduced spreads.
Monitor Steam In-Game
Check for live line steam during matches to spot handicap margins with heavy action. Pouncing on live steam is an art form in betting.
Use Parlay Insurance
Many sportsbooks now offer odds boosts and parlay insurance promotions. Pair these with safer handicap bets on favorites to maximize the value.
Know the Key Numbers
Certain handicap margins like 3, 7, and 10 see increased action because they involve key totals like soccer‘s 3 goal lead. Study the key numbers by sport.
Final Thoughts on Handicap Betting
Thanks for sticking with me on this crash course exploring handicap and 3-way betting! I hope you feel equipped with the handicap knowledge to start crushing your sports wagers.
Just remember to shop for the best lines, follow sharp money moves, study the key handicap numbers, and use live betting to your advantage. Please reach out if you ever have any handicap betting questions arise in the future!