As noted in comments, a handicap is “an advantage given or disadvantage imposed”, rather than merely one or the other. At more length, from wiktionary:
- 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. [eg] The older boy won, even though his opponent had been granted a handicap of five meters.
Since handicaps typically are biases applied “to equalize, as much as possible, the chances of success”, as the opposite of a handicapped race or match one might consider adjectives unbiased (“impartial or without bias or prejudice”) or unhandicapped; and as the pendulum swings farther away from fairness or equal chances, and one competitor or another gains an unfair advantage, might consider those disadvantaged as unfairly handicapped.