Definition of 2-Way Handicap

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What does the term "2-way handicap" mean? What does the term "2-way handicap" mean in sports such as hockey, tennis or basketball?

In the world of sports betting, a "2-way handicap" is available in sports where there is going to be a winner, such as hockey (overtime and then a shootout), basketball (overtimes until a winner is declared) or tennis (a tennis match can not end in a draw).

In the case where a 2-way handicap line is used in a sport that can end in a draw, the bet is usually returned if the contest ends in a draw.

For instance, the 2-way handicap line can be used in hockey, where there will always be a winner due to the usage of overtime/shootout.

For instance, a line might look like this:

Vancouver, -175
Detroit, +155

In this case, you can either bet on Vancouver to win (the favourites) or Detroit (the underdogs).

A tennis line might look like this:

Rafael Nadal, -255
Roger Federer, +195

Again - a tennis match can not end in a draw, so the 2-way handicap line can be used.

In sports where contests can end in a draw (mixed martial arts or boxing, for instance), the 3-way betting line is commonly used.