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So regardless of who is playing, and who is favored, if you are able to spot a handicap that is based on balancing bets, you can get a small edge. It also gives oddsmakers and bettors more options. Yes that seems to be the advantage. Why bet a large proportion of your bankroll when you could bet a handicap with better odds.
The only thing to consider although i said the contrary in the description is that if your prediction was who would win, that's no longer valid for the handicap, since in the handicap you're betting how well the team is going to play. Your model must be different then since the variables are also different.
Since large bettors can bet both moneyline and handicap without restrictions, after time the adjusted odds would be pretty much the same. And why bother with handicap when the other is easier. If before a game has started, say golden state is at for their money line. Their handicap is If you predicted golden state to win by points, you would rather bet on the ML. If you predicted golden state to win by at least 15 points.
You would much rather take the handicap as you are risking less to win more. Although it is riskier to play the handicap instead of the ML. It is all up to you and where you see value. You might as well go to a casino and try double your money on blackjack.
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