ARB304: Asian handicaps
It is not uncommon for arbitrage opportunities to involve one Asian handicap leg. Fortunately, arb-finding alert services do the hard work for you in identifying cross-market arbs and advising the two bets you need to place in order to secure the arb.
It is, however, in an arbers best interest to appreciate the general workings of Asian handicaps so that on the off chance your alert service makes a mistake you can catch it before you place any bets.
Asian handicaps are a specific type of handicap wager invented in Asia and, like line betting, there are only two possible selections to bet on: home win or away win. Asian handicaps eliminate the draw as a result. The underdog will be given a points head start – they will have the amount of the handicap added to their final score in determining the outcome of the bet. The handicap for the underdog is indicated by a plus sign (+).
The favourite will be given a points disadvantage – they will have the amount of the handicap subtracted from their final score in determining the outcome of the bet. The handicap for the favourite is indicated by a minus sign (-).
The primary difference from line betting is that Asian handicaps are offered at 0.25, 0.5 and 0.75 intervals. For example wagering $100 on:
- AH+0.25 is equivalent to wagering $50 on AH+0 and $50 on AH+0.5; or
- AH+0.75 is equivalent to wagering $50 on AH+0.5 and $50 on AH+1
The Asian handicap table
At first Asian handicaps can be confusing to understand, so Sports Arbitrage Australia has devised the below table that new arbers can use as quick reference when arbing:
|Win by 2 or more goals||Win by 1 goal||Draw||Lose by 1 goal||
Lose by 2 or more goals
|+ 1.25||Win||Win||Win||Half win half no bet||Lose|
|+ 1||Win||Win||Win||No bet||Lose|
|+ 0.75||Win||Win||Win||Half no bet half lose||Lose|
|+ 0.25||Win||Win||Half win half no bet||Lose||Lose|
|+ 0||Win||Win||No bet||Lose||Lose|
|– 0.25||Win||Win||Half no bet half lose||Lose||Lose|
|– 0.75||Win||Half win half no bet||Lose||Lose||Lose|
|– 1||Win||No bet||Lose||Lose||Lose|
|– 1.25||Win||Half no bet half lose||Lose||Lose||Lose|
|KEY||Settlement of wager|
|win||Your wager wins|
half no bet
|Half of your wager wins; and
Half of your wager is void and stake returned
|no bet||Your wager is void and stake returned|
|half no bet
|Half of your wager is void and stake returned; and
Half of your wager loses
|lose||Your wager loses|
The table indicates the win/loss result of an Asian handicap wager dependant on the handicap points and outcome of the match.