How To Bet On The Masters 2024: From Hole-In-One’s to Round Leaders

Credit: Kyle Terada-USA TODAY Network
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As the opening golf major of the season is here, let’s review strategies for betting on the Masters while enjoying the golfing excitement. There are numerous options and betting opportunities available as the players compete in Augusta, Georgia for the inaugural major championship of the year.

From who the favorites are in the Masters odds, to head-to-head matchups, to whether or not there will be a hole-in-one, with so many options to choose from it’s not easy to narrow it down and pick the best ones. However, there are a number that stand out to us as Augusta welcomes the best players in the world as they congregate onto the first major championship of the year. Keep reading to do more research with the Masters betting guide.

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How to bet on the Masters

There are so many different ways for you to bet on the Masters. And to make things simpler for you, we’ve broken down the ways you can elevate your golf betting experience:

Outright Winner

Betting on the outright winner is typically the most common golf bet. For example, Jordan Spieth is +2200 to win at DraftKings Sportsbook. That means a $10 wager would win $220 if Spieth were to win.

Top 5, 10 or 20 finish

Betting on if a player will make it into the top 5, 10 or 20 is another option for wagering on the Masters. For example, Scottie Scheffler is +105 to finish in the top five, that means bet $10 to win $10.50 if Scheffler was to finish in the top five.

To make the cut

Another popular bet is on whether players will make the Masters cut line. The Masters generally has a much smaller field than the other majors therefore more players make the cut. If Corey Connors was +100 to make the cut that means a $10 bet would win you $10 if you were to make that bet.

Head-to-head matchups

Let’s say you like one golfer to do well but another golfer to faulter. You can bet on head-to-head matchups. For example, will Jon Rahm do better than Scottie Scheffler? If you think so, you must risk $10 to win $25 on Rahm to upset Scheffler.

Credit: David Yeazell-USA TODAY Sports

Round betting

Another option for betting is round betting. Will one golfer shoot a lower score than another golfer on that particular day. Say you liked Jason Day to beat Rory McIlroy in a round betting. Bet $10 on Day to win $18 against McIlroy.

Group betting

Like round betting group betting focuses in on a particular group of three golfers and assigns odds as to which golfer will shoot the best of the three golfers during that exact round. Let us say Scottie Scheffler, Rory McIlroy and Phil Mickelson were all playing in a group together. If you like Phil Mickelson to shoot the best round of the group bet $10 to win $33. If you like Scheffler to win the group bet $10 to win $10 and if you like Rory McIlroy to win the group bet $10 to win $20.

First round leader

Just like betting on a tournament winner you can always bet on the winner of the first round of the tournament and most usually the sportsbooks offer longer odds as it’s harder to win just one round than it is to win over four days. If Rory McIlroy is +1200 to win the golf tournament over four days, you could be him at +2000 to be the first-round leader so a bet of $10 would win you $200.

Live Masters Betting

Once a golf tournament starts the odds drastically change on the golfers’ chances of winning the tournament as play begins to dictate how the players are playing. A player who started off the tournament at +10000 to win could shoot a sixty-five on Thursday and see their odds shoot up to +2000 depending on how other golfers did. Keep an eye on the live betting as it allows you to continue to wager on the event even once it has started.

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Parlay bets

Placing parlay bets in golf follows the same principles as parlay betting in other sports. For instance, if you fancy Scottie Scheffler to outperform Rory McIlroy in the opening round and also fancy Xander Schauffele to best Wyndham Clark, you can enhance your odds by betting on both outcomes simultaneously. Keep in mind that in a parlay, you need to win all bets. Parlays can involve three or more selections, and the more selections you add, the higher the potential payout.

Prop bets

Prop bets are very common when it comes to betting on golf. There are a number of different ways and props to bet on. How many birdies will a player have in a round? Will there be a hole-in-one? Check out all the options available at the sportsbook you use and find the one that suits you best.

Future bets

Future bets in golf aren’t as common as the other sports. Golf futures are normally only available for major golf tournaments. For example, you can bet on the U.S. Open or the PGA Championship right now, but you can’t bet on the Canadian Open. Future bets only apply to tournaments that typically have more cache than the other ones and therefore are usually reserved for major championships.

Credit: Thomas Shea-USA TODAY Sports

How to read Masters betting odds

Reading Masters betting odds is just the same as reading betting odds from any other golf tournament just that there are a lot more options to choose from. If you want to bet on Scottie Scheffler to win and see that his odds are at +430 to win the tournament, then bet $10 on Scheffler to win $43. This applies to all other forms of betting on the Masters. If you like Patrick Cantlay, bet $10 to win $310 at +3100.

Masters betting strategies

There are a number of key things to look at when breaking down which golfer(s) to bet your money ahead of the Masters:

Study player form

Player form is always a key point to study. For the Masters this year there is no player in better form than Scottie Scheffler. As mentioned, the value might not be that good on the world’s number one golfer. Betting $10 only returns $43 on Scheffler and for a player to have odds like those ahead of a tournament is something we haven’t seen since Tiger Woods was in his prime.

Choose long hitters

Long hitters are always an enjoyable thing to bet on as the public loves players that can strike the ball off the tee. But just remember the old saying, you drive for show and putt for dough. If players who can drive the ball far is your thing, then keep an eye on these top five golfers on tour who lead in strokes gained tee-to-green, Scottie Scheffler, Xander Schauffele, Si Woo Kim, Hideki Matsuyama, and Shane Lowry.

American players at Augusta

There is a long list of Americans headlining the field at Augusta this week. Obviously, world number one Scottie Scheffler headlines the field. Other players from the U.S.A to keep an eye on this week are Brooks Koepka, Xander Schauffele, Jordan Spieth, Patrick Cantlay, Justin Thomas and of course Tiger Woods.

Check the weather

Checking the weather is something that a lot of golf bettors do not pay attention to. But it can play a big factor in if your player is getting the better end of the draw as far as tee times go. If it is supposed to be windy in the morning and calm in the afternoon it may be to your advantage to pick a player not playing in the tough decisions. Always keep an eye on the weather to see if mother nature can play a role in you making the right choice as to whom to put your money on.

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Value bets

There are a number of value bets this week as major golf tournaments typically have great value on long shots and players in the mid-tiers. Phil Mickelson, who has won this tournament three times, appears to be a great value bet. At +12500 bet $10 to win $1250.00 on last year’s runner-up. Mickelson has shown a flair for the dramatic over his career and although he is now 53 years old, he still has the game to compete at the Masters where knowledge of the course is key.

Betting promos

Finding good betting promos is a good way to get into the action. Most websites offer promos for people who are first time customers, and most sites also reward their members for friend referrals. Also look to cash in on other rewards that a website may have to offer, including frequent player points and other types of rewards.

Look for strong putters

Another thing to keep an eye on is strong putters at Augusta National. Those who have never played there before will likely incorporate difficulties on greens they have never played or seen before. Jordan Spieth is the top ranked putter in the field ranking tied for sixth in strokes gained putting this season.

Shop for the best betting lines

Remember to always shop for the best betting lines. The lines at one sportsbook are never likely the same odds at a different book. Find the best site that works for you but don’t forget to shop around and find something that suits your needs best. Just because a golfer has +1000 odds to win at one site doesn’t mean his odds to win are the same at another site.

Credit: Jason Parkhurst-USA TODAY Sport

How to sign up for a Masters betting site

Signing up for a betting site can sometimes be a bit confusing, so we’ve went ahead and did all the dirty work for you. Keep reading and follow the step-by-step guide on how to sign up for a Masters betting site:

1. Pick the best sportsbook

Signing up for a site has never been as easy. All it takes is a valid email address and proof of age and address. Each state has it’s own rules when it comes to betting so make sure to know what the rules are in your region. All it takes is a valid credit card, but most sites allow direct deposit, paypal and almost all other form of direct deposit.

2. Create account

Picking the best sportsbook is a matter of personal opinion. Some people prefer sites that offer a lot of rewards while some prefer sites with faster payouts and fewer play throughs on bonuses. Always make sure to find what works best for you and the way that you like to play. Remember to use Oddspedia when trying to decide what the best site is for you. As mentioned, creating an account has never been easier. Most sites require an identification and that is all to sign up along with a valid email address. Make sure to check out Oddspedia for their list of Sportsbooks.

3. Deposit

Making a deposit has never been simpler. Most gambling websites accept all major credit cards, debit cards, PayPal and any other form of online currency transferring.

4. Select golf markets

As well, use Oddspedia for select golf markets. Let Oddspedia help direct you to bet on what you like and help point you towards the site that works best for you.

5. Place your bets

Once you have found a sportsbook that works for you it is time to make your first deposit. It’s that easy. Just go to the deposit area on the website and click on the links that they prompt you to.

Masters betting guide FAQs

Who is the favorite to win the 2024 Masters

Scottie Scheffler is currently the favorite to win the Masters. The world’s number one golfer headlines a strong field and with odds of +430 to win, Scheffler tops the group.

Who won the Masters in 2023

Jon Rahm won the Masters in 2023. Rahm shot 12 under par beating Phil Mickelson and Brooks Koepka by four strokes. For his win, Rahm brought home the first-place cheque of $3,240,000.

What is the best Sportsbook for Masters betting?

bet365 always has good odds when it comes to golf, and they come out relatively early. Currently, there are more options to bet on that site than FanDuel or DraftKings and all the other alternatives.

How can I bet on the Masters?

Betting on the Masters has never been easier. Find a Sportsbook you like, with lines you like, that offers good customer rewards. Make your first deposit and start wagering. Good Luck!

More Masters insights

Best golf betting sites

If you’re looking to join in on the action for the Masters, dive into the best sportsbooks to elevate your golf betting experience! With BetMGM sportsbook you can bet on where a player will finish in the tournament or with bet365 sportsbook you can place a wager on who the leader will be after the 1st rd. While with FanDuel sportsbook you can bet on who will make or miss the cut!

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