One problem is that your opponent can think on your time. So it's never a "pure" I get so many minutes and you get some many minutes. I've read that 200 points is worth a "tempo". I.e., a wasted move. And that 3 tempos are worth a pawn. Can you play at a "pawn" odds?
How much time is 100 points worth?
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There is no rule for this because all players play differently in time pressure. This is especially true at high levels. Moderate GMs would handily defeat Danny Rensch in classical time control who would defeat Jerry (Chessnetwork) just as easily. But make the time control bullet/blitz and everything is all funky. Chessnetwork, a mere NM is almost as good as IM John Bartholomew at bullet and GM Huschenbeth is only equal to if not worse than IM Danny Rensch at blitz. Ratings are based on classical time controls and ability at quicker time controls is also a combination of natural ability and practice at that particular time control.
So in 5:00, your 1500 friend may not need to give you any handicap, or maybe he is even better (relatively) than you at blitz and needs to give a huge handicap. Ultimately you to have to work out a system that tends to give even point values.
Material odds is much more constant, but I've never heard numbers for it. I don't know if a tempo is worth 200 rating points... I'm not going to have a 50/50 chance to beat someone 200 points higher rather than me just because I get to play e4 and d4 at the start of the game. Maybe in higher levels but tempi are wasted all the time in lower chess levels so I'm not sure they mean so much. The difference between white and black is supposed to be around 50 ELO, so that's probably how much a tempo is too (as long as its just a few tempi. Obviously they start to get more and more helpful as you add more).
You play match with my
15|10 for you 3|2 or 5 for him , no more then that , that way it would make a game interesting and pretty much equal, despite rating differences.
30|0 vs. 5|0 or similar is just crazy and unfair.
The key is to move quickly at the beginning and try to exchange minute for minute. Because every even exchange of time your advantage grows: 29 to 4, 28 to 3, 27 to 2... you can start taking a lot more time with your moves once he is down to like one minute. Then he is pretty much screwed and even a GM would have a hard time as long as you don't throw away the game.
If I play around 900-950, and my friend plays around 1500-1550, and we are playing timed games, is there any rule of thumb to say how much time my friend should concede to me to "level the board." Would that rule of thumb still hold for two much more highly rated players who were none the less separated by 600 points? Is there anyway to play such a handicapped game here or elsewhere?
Thanks in advance.