Grandmaster Larry Kaufman wrote the following about the Elo rating equivalence of giving knight odds:[REF] [T]he Elo equivalent of a given handicap degrades as you go down the scale.
Kaufman has written that Kasparov could give pawn and move odds to a low grandmaster (2500 FIDE rating) and be slightly favored, and would have even chances at knight odds against a player with a FIDE rating of 2115 [REF].