handicap

Short definition from Wiktionary

Noun

1. 1
   Something that prevents, hampers, or hinders.
2. 2
   An allowance of a certain amount of time or distance in starting, granted in a race (or other contest of skill) to the competitor possessing disadvantages; or an additional weight or other hindrance imposed upon the one possessing advantages, in order to equalize, as much as possible, the chances of success.
3. 3
   The disadvantage itself, in particular physical or mental disadvantages of people.
4. 4
   A race or similar contest in which there is an allowance of time, distance, weight, or other advantage, to equalize the chances of the competitors.
5. 5
   An old card game, similar to lanterloo.
6. 6
   Synonym of hand-in-cap (“old English trading game”).

Verb

1. 1
   To encumber with a handicap in any contest.
2. 2
   To place at disadvantage.
3. 3
   To estimate betting odds.