Each year, golf’s best take on Augusta National in hopes of adding some green to his wardrobe by Sunday evening.
Interestingly enough, if you’re able to capitalize on some of the available betting options, you too could be looking at some brand new green.
That means more action at the online sportsbooks, and more chances to win.
In this article, I’ll explain all the different ways you can add to your bankroll by betting on the Masters.
1. Choose a Winner (But at the Right Price)
The great thing about betting on anyone to win a golf tournament outright is that the odds are always going to be favorable.
Now for the downside. It’s extremely difficult to pick a winner for any golf tournament, let alone the Masters. Over the years, many first-timers have walked away with the jacket, and it seems that since Tiger finished his dominant run in the late 1990s through the early 2000s, it’s up for grabs every year.
— The Masters (@TheMasters) April 9, 2021
Back to how you can make the most out of picking a winner. I would suggest “packaging” several different golfers together in a mix of favorites, long shots, and perhaps one or two guys in the middle if you actually follow the sport and have some idea about which mid-range-odds golfers might be a good option to ride with.
When I say “package” your picks, I mean betting on four or five options. If one of them hits, your wins will more than cover your losses, even if you pick the favorite.
Of all the different types of golf bets out there, choosing the winner is probably the most basic option that beginners can enjoy. The downside is your golfer may be out of the running after day one, which means you’re going to have to make your money elsewhere.
At the end of the day, choosing the winner might not be a bet that’s likely to hit, but if you bet a small amount and take a few different golfers, it’s a bet everyone should have on their ticket.
2. Consider Matchup Bets
If you’re new to golf betting, my personal favorite way to bet is by utilizing “matchup bets.” In terms of the odds, these types of bets look similar to baseball in that they revolve around the moneyline.
Often times, these players will be in the same group, but that isn’t always the case. Once the matchups are set, whichever player has the best score out of those in the group wins.
Here’s an example of what a matchup bet would look like on a betting platform: Simpson/Smith (Simpson -110, Smith -120) or Cantlay/Schauffele (Cantlay -120, Schauffele +105).
The key with matchup betting is to seek out bets with higher value, even if that means putting your money on the underdog. For the most part, sportsbooks will pair golfers who are comparable in skill and are expected to compete on a somewhat even level. It’s unlikely that you’ll find any matchup bets with a +400 offering, though I suppose if you look through enough sportsbooks you may stumble upon it.
If you are familiar with the sport, you may be able to pick out some matchups where the odds don’t accurately reflect reality. Not to mention, betting markets and public bias by those who are less informed can present opportunities for the knowledgeable golf bettor.
The bottom line is that matchup bets, regardless of your knowledge of the sport, are just plain fun. If you don’t feel like throwing money at trying to pick the winner, these bets are the way to go.
3. Use Group Betting for Better Value
If you’re looking to raise the stakes – and the value – of matchup bets, group betting is the way to go. Group bets are very similar to matchup bets, but of course instead of a head-to-head matchup, they involve groups of golfers.
These groups can be a collection of 3, 4, 5, or even up to 10 depending on which sportsbooks you’re using.
So what exactly is the advantage of going with a group bet instead of the more traditional matchup bet?
The short answer is…
Whereas in many matchup bets, you’re going to be looking at odds that fall between the -120 and +120 range, group bets give you the opportunity to win quite a bit more money. With that being said, it should be noted that obviously, it’s more difficult to pick a winner out of a group of four or five than it is to accurately pick the winner when there’s only two golfers involved.
Though it will vary depending on who the sportsbooks include in a particular group, if you’re looking at a group of five golfers the “favorite” is usually going to be around +300, with the “underdog” coming in around +400.
The other golfers in the group will usually fall somewhere between these two numbers.
Keep in mind that just like picking the overall winner, you can hedge your bet by picking two out of the five options.
4. Explore the Prop Bets
The candy of the sports betting world is undoubtedly propping bets. From the basic and expected options, to the wild and crazy “I can’t believe they have odds on that” offerings, prop bets are something every sports bettor can enjoy.
When it comes to golf prop bets, there are endless options, but a few that are almost guaranteed to show up in any tournament.
Some other options that you might see are: the over/under on what the lowest score will be for the tournament , will there be a double eagle, will there be a playoff, and the list goes on.
I wouldn’t build your betting strategy entirely around prop bets, but I also wouldn’t recommend going the entire Masters weekend without at least making a few. Take a longshot or two and see if you aren’t to get lucky.
Betting on golf might not be something you’ve done much over the years, but there’s no better event than the Masters if you’re looking to dip your toe into the action. You may have always considered golf to be a slow sport, but if you have a rooting interest and money on the line, it becomes a whole lot more exciting.
This ensures you have plenty of chances to cash in, and ensures that at the very least you’ll get what you paid for in terms of entertainment value.