How To Bet on the Masters: Your Ultimate Betting Guide for Golf’s First Major
The world’s greatest golfers descend upon Augusta, GA, to battle for the famous green jacket at the Masters each April. It is the first major of the season, so it always generates a great deal of excitement among golf fans.
Online sportsbooks tap into that excitement by offering a wide range of intriguing betting options on the Masters, from the outright winner to 2-ball matchups and exotic props.
This guide explains everything you need to know about betting on the Masters. We will break down the main wagering options at your disposal and explain how to read the odds. You will also discover our top Masters betting tips, along with links to a range of helpful resources for golf bettors.
Common Types of Masters Bets
Futures bets allow you to predict how well a particular player will perform at the Masters. For example, you can bet on a golfer to win the tournament, secure a top-10 finish, make the cut, or miss the cut.
Sportsbooks typically publish odds on the tournament winner several weeks before the Masters begins each year. The odds then change in the build-up to the tournament. For example, if a particular golfer wins a couple of PGA Tour events in the spring, the odds on him winning the Masters are likely to shorten.
This is a simple wager that focuses on two specific golfers. You just need to predict who will finish with the lowest score.
These bets are also known as 2-ball matchups. They typically focus on a specific round. For example, you might find this matchup for the first round of the Masters:
- Xander Schauffele to beat Rory McIlroy (-110)
- Rory McIlroy to beat Xander Schauffele (-110)
You simply need to decide who will shoot the lowest score out of those two players. All of the other players in the field are completely irrelevant for the purposes of this bet.
A 3-ball bet groups three golfers together, and you just need to decide who will shoot the lowest score. For example, you might be offered this 3-ball bet:
- Bryson DeChambeau (+120)
- Keegan Bradley (+220)
- Justin Rose (+260)
Once again, you just need to decide who will shoot the lowest score. The odds tell you the potential payout you would receive from each option, as discussed in the next section of this Masters betting guide.
Some sportsbooks also offer group bets. They feature four golfers, and you can pick which one you expect to finish with the lowest score.
This is a straightforward bet on which player will be at the top of the leaderboard after a certain round. For example, you might find odds of +450 on Scottie Scheffler leading the way after the first round.
These bets will be graded and paid out immediately after the round ends. The rest of the tournament is irrelevant.
The best Masters betting sites offer a long list of prop bets on the tournament. Here are some examples:
- Will there be a first-time major winner?
- Will there be a hole-in-one?
- Will an American win the tournament?
- Will a European win the tournament?
- Will there be a wire-to-wire winner?
- Will there be an albatross?
You can also bet on the best-performing American golfer, the best European, the best Asian, and so on, or the golfer with the longest drive. It is helpful to shop around for the best odds on these props, as they can vary significantly from one Masters betting app to the next.
Live betting on the Masters begins as soon as the tournament starts. Online sportsbooks will continually update their odds on markets like the tournament winner, round leader, matchups, 3-balls, groups, and so on as the action unfolds.
You can continue betting on the Masters until the closing stages of the tournament when a handful of players are battling for victory on the final day.
Some sportsbooks also offer micro-betting options on the Masters. Examples might include:
- Will Patrick Cantlay hit the fairway off the tee on this hole?
- Will Collin Morikawa hit the green off the tee on this hole?
- Will Jon Rahm get a birdie or better on this hole?
- Who will win this hole: Tony Finau or Max Homa?
Understanding the Masters Odds
Golf betting odds provide you with two key pieces of information:
- The profit you will earn if the bet succeeds
- The implied probability of the bet winning
For example, Masters odds of +500 tell you to expect a $500 profit if you place a successful $100 wager. They also give the bet a 16.7% implied probability of success.
How To Read the Masters Odds
Most online sportsbooks present their odds in the American format. That means they can either be positive or negative. Here is an example of the odds you might find:
- Scottie Scheffler to beat Wyndham Clark (-130)
- Wyndham Clark to beat Scottie Scheffler (+110)
If the odds are negative, they tell you how much you would need to wager in order to generate a $100 profit. In this example, a $130 bet on Scheffler would net you in a $100 profit.
You do not need to bet that precise amount. The odds are simply a guide. For example, a $10 bet on Scheffler at -130 would deliver a $7.69 profit if he beat Clark.
When the odds begin with a plus, they tell you the profit you would earn from a $100 bet. In this example, a $100 bet on Clark would earn you a $110 profit if he won.
Once again, you can choose any bet amount you like, within reason. For example, a $10 bet on Clark would generate an $11 profit if he beat Scheffler. The larger potential profit available on Clark tells you that he is the underdog, with an implied 46.7% chance of success, whereas Scheffler is the favorite.
How To Bet on the Masters Online
The best online sportsbooks make it easy for you to bet on the Masters. Follow the steps listed below to create an account, make a deposit, and place your first golf wager.
Register With an Online Sportsbook
Visit an online sportsbook and open the registration form. Select your state, enter your email address, and choose a strong password.
Provide some basic personal details, including your name, date of birth, phone number, home address, and last four SSN digits. If a promo code is required to claim the welcome bonus, make sure it is displayed in the relevant box on the sign-up form, such as TODAY at BetMGM.
Accept the terms and conditions, select marketing preferences, and submit the form.
Verify Your Account
Most new customers will be accepted automatically. Online sportsbooks use sophisticated verification systems to validate your identity based on the details you uploaded.
If the automated software cannot verify you, the sportsbook will ask you to submit supporting documents, such as a driver’s license and a recent bill. They will be checked by a member of the team, and your account will be approved.
Make a Deposit
Click the “Deposit” button to fund your account. You will be presented with options like credit card, debit card, online banking, PayPal, Venmo, and so on.
Choose a payment option, enter your deposit amount, provide your payment details, and confirm. The funds will arrive in your account straight away.
Download the App
You can place your first Masters bet on the website, or you might prefer to download the app. If so, open the App Store on an iPhone or Google Play on an Android phone and search for your sportsbook.
Tap the download button. Confirm the free download using your standard method, such as Face ID, and then return to the home screen. You will see the app downloading. When it is complete, open the app and sign in using your email address and password.
Place a Masters Bet
Select “Golf” from the list of sports on the main menu and then choose the Masters from the list of tournaments. You will be shown a range of available betting options.
When you find one you like, tap or click on it, and your pick will appear on the betslip. Type in the amount you would like to wager, and the betslip will highlight your potential profit.
If you are happy, confirm the bet. The money will be deducted from your account balance, and you will be paid out after the tournament or the round if your prediction proves correct.
The Masters Betting Tips: Strategies for Wagering Success
These Masters betting tips can boost your chances of success when betting on the first major of the year.
The Masters is the only major that takes place at the same golf course each year. That means bettors can access a wealth of past performance data when coming up with their picks.
Here are some factors to consider:
- Most of the fairways at Augusta National are wide and forgiving. That gives big hitters the opportunity to let loose off the tee, so driving distance is a key stat to assess before betting on the Masters.
- Gaining greens in regulation is vital at Augusta. Find players who can hit the green in tough conditions.
- Par 5s provide the best opportunities for golfers to rack up birdies at the Masters. The par 5s are all between 550 and 600 yards, so look out for players who gain the most shots over that distance.
- The Bentgrass greens are very quick, so look out for players who can handle those speeds.
These are just some of the areas to focus on when handicapping the Masters. If you conduct extensive research, you will be able to make astute picks.
Many armchair fans simply bet on what player will win the Masters. However, serious bettors are more likely to bet on 2-ball matchups.
The world’s best players all converge upon Augusta to vie for the green jacket, so picking a winner can be very difficult. It is potentially easier to focus on a head-to-head matchup between two specific players and determine who will shoot the lowest score.
If you only want to bet on the outright winner market, consider dividing your budget and betting on a few different players. This will allow you to spread out your risk.
Shop for the Best Odds
When you have finalized your Masters betting picks, shop around for the best odds. For example, you might find these odds on a 2-ball matchup:
| Sportsbook | Brooks Koepka To Win | Will Zalatoris To Win |
|---|---|---|
| FanDuel | -125 | +105 |
| DraftKings | -120 | +100 |
| BetMGM | -125 | -105 |
| bet365 | -125 | +100 |
| Caesars Sportsbook | -122 | +108 |
| BetRivers | -125 | +100 |
In this hypothetical example, DraftKings would be the best sportsbook for anyone who wants to bet on Koepka, whereas Caesars is the best option for anyone betting on Zalatoris.
The Masters is one of the biggest sporting events of the year, so online sportsbooks typically offer bonuses on the tournament. You can claim a sign-up bonus if you register with a new golf betting site, while there will also be promos for existing customers.
For example, you might be offered odds boosts, profit boost tokens, free-to-play prediction pools, and so on. Claiming these bonuses can improve your chances of ending the tournament in profit, but it is generally best to avoid odds boosts on longshot bets that you would not normally consider placing.
Betting on the Masters can be highly entertaining. However, it is designed to be enjoyed in moderation.
Responsible gamblers set a budget and stick to it. Do not exceed your predetermined bankroll, do not chase losses, do not bet when stressed or angry, and do not bet when intoxicated.
Betting on the Masters Futures Odds
The leading online sportsbooks offer a selection of futures betting options on the Masters at Augusta. These are the most common markets:
- Tournament Winner: A straightforward prediction on which player will win the tournament. This market covers the possibility of a playoff. You simply need to specify who will be wearing the green jacket on Sunday.
- Top 10 Finish: You can alternatively bet on a player to finish inside the top 10. You will receive a smaller potential payout, but you stand a better chance of success. Most sportsbooks also allow you to bet on a player to finish in the top 5 or 20.
- To Make or Miss the Cut: Only the top 50 players and ties after the first two rounds will advance to the weekend at the Masters. The remaining players will be cut. You can bet on a specific player to make or miss the cut.
Where Can I Legally Place Bets on the Masters?
Sports betting is now legal in more than 30 states, from Arizona to Wyoming. Every legal online sportsbook in the country offers a range of betting options on the Masters.
Georgia is not one of the legal sports betting states, so visitors to Augusta cannot bet on the Masters. However, lots of other large states permit online golf betting, including New York, New Jersey, Pennsylvania, Florida, Illinois, North Carolina, Michigan, Virginia, Arizona, and many more.
More Betting Resources for the Masters
Golf bettors can access a wide range of useful online gambling tools at Gaming Today. These are some of the best resources for anyone betting on the Masters:
- Futures Calculator: Determine the implied probability based on all the futures odds on the Masters.
- Moneyline Calculator: You can use this simple tool to learn the potential profit you would receive from a Masters bet.
- Kelly Criterion Calculator: Use this tool to figure out the percentage of your bankroll that you should wager based on the probability of a particular outcome at the Masters.
- Fair Odds Calculator: Work out the fair odds you would receive if an online sportsbook did not take a house edge on a 2-ball matchup.
- Arbitrage Calculator: Determine whether wagering on both sides of the same bet at rival sportsbooks will earn you a guaranteed profit.
How To Bet on the Masters FAQ
The world No. 1 is normally installed as the favorite to win the Masters. You typically find famous names like Scottie Scheffler, Rory McIlroy, Xander Schauffele, Jon Rahm, and Brooks Koepka at the top of the futures betting on the Masters at Augusta.
Trevor Immelman defied odds of 150/1 (+15000) to win the Masters in 2008. The South African golfer held off a late onslaught from reigning champion Tiger Woods to seize the green jacket that year. Other famous longshots include Charl Schwartzel in 2011 and Danny Willett in 2016.
Rory McIlroy, Brooks Koepka, and Bryson DeChambeau are some big names who have not yet won the Masters. If we delve further back into the history books, the likes of Greg Norman and Lee Trevino never won the tournament. However, we have had eight new winners in the past 10 years, so hope springs eternal for the players still chasing that elusive green jacket.
LIV golfers can compete in the Masters if they meet the qualification requirements. For example, previous Masters champions automatically qualify, as do the winners of the five most recent US Opens, Open Championships, and PGA Championships. The first 12 players from the previous year’s Masters, including ties, also qualify.
There are various other ways for LIV players to earn a berth at the Masters. In 2024, 13 LIV golfers earned invites to the tournament.
This is a reasonably rare golf betting option, available at bet365 and a couple of other online sportsbooks. It is essentially two wagers: one on a player to win the Masters and another on him to place.
To place means to finish inside the top 8, the top 10, or the top 11, depending on which site you bet at. You typically receive a fifth of the odds if your chosen golfer places. If he wins, both parts of the bet will pay out, whereas only the place part will pay out if he finishes close to the top of the leaderboard.
Yes, you will need to pay tax if your Masters bet wins. The IRS deems gambling profits to be taxable income, and you may also need to pay state income tax and local income tax, depending on where you live. However, gambling losses can be deducted from your winnings, so you only need to pay tax if you end the year in profit.
A 2-ball matchup bet is often the best wagering option on the Masters. You do not need to predict who will win the entire tournament. Simply decide which of the two players will finish a round with the lowest score, and you will be paid out if you guess correctly.
