How Does Betting On The Masters Work?

Masters golf tournament

The Masters is one of the greatest sporting events in the world. It takes place annually during the first full week of April at Augusta National Golf Club in Augusta, Georgia. As one of the most beautiful and challenging golf courses, the Masters is known for having the best golfers compete each year for the prized green jacket. Another factor that makes the Masters even more entertaining is the high number of bets placed on the tournament each year.

Types of Masters Bets

These are the types of bets you can place on the Masters:

  • Outright Winner
  • Placement
  • Make/Miss Cut
  • Three-Ball
  • Prop
  • Live

Outright Winner Betting

There are many different ways to bet the Masters, but perhaps the most simple and most common bet is on the outright winner of the event. Simply put, outright winner bets involve placing a bet on the golfer you think is going to win the whole tournament. If your golfer wins, you win your bet, and if your golfer doesn’t win, neither does your bet.

Betting on an outright winner is popular, and the odds are great. This means that any bettor is going to get a great return if their bet ends up winning. However, it is extremely difficult to predict the winner correctly. Betting on an outright winner can also be done live while the event is going on, but this may change the odds since the event is already ongoing.


Placement Bets

Similar to the outright winner bets, you can also bet on any player to place in the top five, top 10, or top 20. These bets are meant for situations where there is a golfer you think will do well but not necessarily win the whole event. For example, if a bettor does not think Justin Thomas will win but believes he will perform well and finish in the top 10, you can bet on that.

The odds will not be as great as betting on him to win since finishing in the top 10 is more likely, but the odds are still valuable. With odds of +1200 to win the tournament, a bettor could place a $100 wager on Justin Thomas to profit $1,200. With odds of +300 to place in the top 10, a bettor can bet $100 on him to win $300. Placement bets are a great way to remain invested in the event, even if your player cannot win the whole tournament.

Make/Miss Cut

Another popular bet to place for the Masters is on a player to make or miss the cut. After two days of golf, there is a cut line where the top 50 golfers (or anyone tied for 50th) advance to the weekend. Everyone behind the cut line is eliminated from the tournament.

A wager on a player to make or miss the cut is betting on if the player will score well enough to advance to the weekend. The odds vary from player to player because the best players are heavily favored to make the cut, while other players may be projected to miss it.


Matchup Betting

Another popular bet is on round matchups. These are matchups made by the books that vary from round to round. Essentially, it is betting on one golfer to score lower than another golfer in that round or on that day. These bets are common because they magnify the event on just two golfers, which is entertaining to watch. For example, a bettor can wager on Bryson DeChambeau to score better than Tiger Woods in round one of the Masters.

Three-Ball Betting

Three-Ball betting is a type of betting that is unique to golf tournaments. In the first two days of the Masters, players are grouped into threes and play together for those two days. Bettors can wager on which of the three golfers will have a better score at the end of the round. Odds for 3 ball betting vary depending on which players are grouped together. If one of the top-ranked golfers is paired with a relatively new golfer, you can expect them to be heavily favored.


Props/Miscellaneous Betting

Perhaps the main reason the Masters is such a great event for sports betting is because of the number of proposition bets a person can place. Among the entertaining bets you can place include “player to make a hole in one,” “player winning margin,” “player to lead after round 1 and win the entire tournament,” and many more.

Other props include a golfer’s over/under score per round. For example, you can bet on Brooks Koepka to shoot over or under 71.5 in round one. The high volume of props is not available for every golf event, which makes the Masters especially fun for sports bettors.

Live Betting

Live betting means betting on the Masters while the event is happening. Most types of wagers are still available while the event is ongoing, but they will usually have less favorable odds than betting before it starts. For example, fans can still bet on the outright winner, players to place in the top 20 or record a better score than their opponents.

You can also live bet the outcome of a specific hole, including for golfers to win or tie scores on the hole. Certain bets are not available live and will be closed once the tournament starts, although these vary by sportsbook. Typically, betting on a player to make the cut is not available live and is only available before the event starts or daily after each round ends.


Masters Betting Odds

Here are the golfers with the best odds of winning the Masters:

  • Jon Rahm (+900)
  • Rory Mcllroy (+900)
  • Justin Thomas (+1,200)
  • Cameron Smith (+1,400)
  • Jordan Spieth (+1,400)
  • Scottie Scheffler (+1,400)
  • Collin Morikawa (+1,600)
  • Dustin Johnson (+2,000)
  • Patrick Cantlay (+2,000)
  • Will Zalatoris (+2,000)


How do you bet on the Masters?

To bet on the Masters, you must be in a state where sports betting is legal. If you are located in a legal sports betting state, you can either download one of the many popular sportsbook apps or go to an in-person sportsbook. Popular sports betting apps include DraftKings Sportsbook, Fanduel Sportsbook, and Caesars Sportsbook, while most casinos have also added in-person sportsbooks. Once you have signed up for the app or found an in-person sportsbook, you need to select your bets, enter the amount you would like to wager, and confirm your selections to place a bet.

Who is favored to win the Masters in 2023?

John Rahm and Rory Mcllroy are the favorites to win the Masters tournament in 2023. However, their odds still give a great payday for anyone placing wagers on them. The odds for John Rahm or Rory McIlroy to win the Masters are set at +900 on DraftKings prior to the event. This means that if you place $100 on Rahm or McIlroy to win, you will profit $900 if your chosen golfer wins.

The most popular type of bet for the Masters is an outright winner bet. The return of Tiger Woods for the 2022 Masters had the golf world and sports bettors extremely excited. As a result, Tiger Woods received more outright bets than any other golfer for the 2022 Masters, despite having not played in a competitive event since 2021.