I am involved in a game online, with a time limit of one day per move. My opponent is playing quite well, and it looks like we will draw.
I am rated about 500 points higher than he is, and although different systems calculate things differently, an online Win Probability Calculator suggests that I have a 96% chance of being successful. Interestingly enough, it also indicates that such a difference in ratings is equivalent to 4.16 pawns.
Oh, and I am playing the Jerome Gambit (1.e4 e5 2.Nf3 Nc6 3.Bc4 Bc4 4.Bxf7+) - giving him "Jerome Gambit odds".
Is that enough material sacrificed to compensate for the rating difference? Giving up two pieces (approximately 6 pawns) for 2 pawns in return would make us about even, and a draw would be a reasonable result.
How about that?
I stumbled over an interesting comment that Grandmaster Larry Kaufman a dozen years ago on the Rybka Chess Community Forum. The discussion concerned an upcoming match between a strong computer chess program and a FIDE Master, with the computer giving Kight odds.
I think that means that if you're an average club player giving "Jerome Gambit odds", to somebody rated only a 100 points or so below you, you're out-performing expectations!