European handicap in sports betting

The European Handicap is a type of bet in which an integer number of points or goals is added to the underdog and subtracted from the favourite. The bet is calculated on the outcome of the event after adjusting for the handicap.

European handicap betting, like Asian handicap betting, gives a head start to the loser, however, unlike Asian handicap betting, they do not reduce the betting market to two outcomes. These markets are usually offered for football events, although they can also apply to hockey and other low-scoring sports.

Below is the European handicap for the international friendly football match between Spain and South Korea:

Spain (-1) – coefficient 1.65.
Draw (-1) – coefficient 3.90.
South Korea (+1) – coefficient 4.10.

This handicap gives South Korea a one-goal head start and is effectively a head-to-head (1×2) market with an adjusted number of goals.

If Spain wins by two or more goals, then Spain (-1) wins. If Spain wins by exactly one goal, then the draw (-1) wins. If South Korea draws or wins the game, then South Korea wins (+1). Note that a draw (-1) can also be written as a draw (Spain -1) or a draw (South Korea +1).

This market is often represented as follows:

Spain vs. South Korea:

EN 1 (-1): 1.65
EN X (-1): 3.90
EH 2 (+1): 4.10

EH stands for European Handicap (as opposed to AH for Asian Handicap), 1 refers to the home team, X refers to the European Handicap and 2 refers to the visiting team.

Bookmakers may offer more than one European Handicap market for the same event. For example, another market for Spain and South Korea might be:

Spain vs. South Korea

EN 1 (-2): 2.75
EN X (-2): 4.00
EH 2 (+2): 2.00

Comparison with Asian Handicap

Asian Handicap bets can have handicaps such as +1, +1.25, +1.5, +1.75 and +2, while European Handicap bets can only be handicapped in whole numbers (+1, +2, etc.).

In the Spanish (-1)/South Korea (+1) Asian Handicap market, if Spain wins by exactly 1 goal, the result is a push and both bets are returned. In the case of the European handicap, a victory by Spain by one goal will result in bets losing on Spain (-1) and South Korea (+1). In this case, only a bet on a draw (-1) will win.

Returning to the example above:

The above bet on Spain (-1) is equivalent to the Asian Handicap on Spain (-1.5).

Draw (-1) above has no Asian Handicap equivalent.

A bet on South Korea (+1) is equivalent to an Asian Handicap on South Korea (+0.5).

Combination of bets with Asian Handicap and European Handicap

Arbitrators can combine European Handicap and Asian Handicap bets to guarantee a profit. For example, the three rates below cover all possible scenarios and can be used for guaranteed returns.

Arsenal – Norwich

EN 1 (-2): 3.50
EN X (-2): 4.15
AX 2 (+1.5): 2.17

Note that AH 2 (+1.5) is equivalent to EH (+2). Arbitrageurs often combine AH and EH bets because there is a difference in odds between Asian and European bookmakers. Asian bookmakers tend to offer Asian Handicap bets while European bookmakers offer European Handicap bets.