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Masters Odds and Betting

Betting on the Masters

The Masters is one of the most prestigious and historic events in all of golf. First held in 1934, the first major championship of the year is held annually at the Augusta National Golf Club in Augusta, Georgia. The only major tournament to be played at the same venue, the course at Augusta National is arguably the most beautiful and pristine in the world.

The biggest names in the modern game, like Tiger Woods, Jack Nicklaus, and Arnold Palmer, have all triumphed at the Masters to be awarded the coveted green jacket. Rich in history, tradition, and fanfare, there’s likely no better event for a golf fan to wager on.

Biggest Rivalries

Arnold Palmer vs. Jack Nicklaus

These players were bound to be great rivals: Jack Nicklaus, arguably the best golfer of all time, and Arnold Palmer, arguably the most popular. These legends had tremendous battles, each winning several majors and dominating the early 1960s. However, unlike many rivalries, Palmer and Nicklaus also became fast friends and remained so for the remainder of their lives.

Tiger Woods vs. Phil Mickelson

One of the most heated rivalries in golf took shape in the early 2000s. Tiger Woods was unstoppable, and Phil Mickelson was long considered the best player to never win a major. These players went head to head in several tournaments, perhaps the most famous being the “Duel at Doral,” where both played masterful games; Woods came out one stroke ahead. Mickelson finally overcame his majors slump by winning the Masters for the first time in 2004.

Types of Masters Bets

Unlike team sports, golf presents a unique variety of betting options. Here are some of the ways to make watching The PGA and Masters even more exciting:

Tournament lines

These moneylines are bets on the tournament result. Have a feeling someone is due for that green jacket? Check the odds and bet on them to win it all. Other tournament lines typically include bets on a player to finish in the Top 5, 10, or 20. Choose a single player and cheer them on, or select multiple to all finish in the top of the field.


There are a lot of factors that can play a role beyond the competitor’s play, such as weather changes or overall luck. Instead, consider betting on a matchup for a round. Two-ball matchups allow you to bet on the winner between two players on either a given day or over the full tournament. Three-ball pays better, but you have to choose between three players. This makes each round interesting, and you can bet on several matchups at once.

Tournament props

Unrelated to the tournament winner, a tournament prop is a wager on a specific outcome or event that happens during the tournament. Examples are: the total number of holes-in-one, whether or not there will be an albatross, or if the tournament will end in a playoff.

Golfer props

Like tournament props, golfer props are bets on specific outcomes, but are focused on a single player. Bet on the player that will have the lowest round of the tournament, or if a specific player will have a hole-in-one.

Make/miss cut

Keep the first two days of the tournament thrilling by betting on players to make or miss the cut. This is also a fun way to bet on your favorite player even if you don’t expect them to finish atop the Masters leaderboard.

Nationality props

Want to focus on players from a specific part of the world? Sites like DraftKings often have nationality props, where you can select the top player from a single country. Think you know who will be the top American this year? You can bet on it! The more players from a single country will make Masters picks tougher—and therefore have higher payouts.

How to Read Masters Odds

When reading Masters odds, you’ll see either a (+) or (-) followed by a number. These numbers are based on $100 amounts. For example, let’s say you want to bet that Player A will win the Masters this year; you may see the odds set at +800 for Player A. This means that a wager of $100 will pay $800 in winnings if Player A wins.

Let’s look at another example. The odds for a 3-ball matchup may look like this:

Player A


Player B


Player C


As we’ve already covered, the (+) represents the amount you’ll be paid with a $100 wager. So if Player B has a better round than the others a $100 bet will win $150 (total payout of $250). Player C pays even better at $350. However, Player A is the favorite to win here, as represented by the (-). This means to win $100, you must bet $120.