How To Bet on the Masters: 2027 Odds, Dates and Betting Guide
Every April, the best players in golf head to Augusta National Golf Club in Augusta, Georgia, chasing the most recognizable prize in the sport: the green jacket. As the first men's major championship of the year, the Masters draws more betting interest than almost any other golf tournament on the calendar.
The 2027 Masters is set for April 8-11, and it brings a storyline golf hasn't seen before. Rory McIlroy will try to become the first player ever to win three straight green jackets after successfully defending his title in 2026.
Online sportsbooks post a huge range of Masters markets, from outright winner odds that open a full year in advance to round-by-round matchups, 3-balls and long lists of props. This GamingToday guide covers each bet type, how to read Masters odds, the handicapping angles that matter most at Augusta and the tools that can help you make sharper picks.
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2026 Masters Recap: McIlroy Goes Back-to-Back
Rory McIlroy made history at Augusta in 2026, shooting 12-under-par 276 to beat Scottie Scheffler by one stroke and claim his second consecutive green jacket. He joined Jack Nicklaus, Nick Faldo and Tiger Woods as the only players to win the Masters in back-to-back years.
McIlroy set the tone early, opening up a six-shot advantage through 36 holes, the largest halfway lead in tournament history. Scheffler mounted a strong weekend push without a single bogey, but McIlroy held on. The cut fell at 4-over 148, with 54 players reaching the weekend, and the champion collected $4.5 million from a $22.5 million purse.
2027 Masters Dates and Schedule
The 91st Masters returns to Augusta National the second week of April. Here's how tournament week lines up:
- Monday-Tuesday, April 5-6: Practice rounds
- Wednesday, April 7: Practice round and Par 3 Contest
- Thursday-Sunday, April 8-11: Tournament rounds
2027 Masters Odds: Early Favorites
Sportsbooks posted 2027 Masters futures right after McIlroy slipped on his second straight green jacket. Scheffler, a two-time champion in 2022 and 2024, opened as the favorite at BetMGM, with McIlroy just behind as he chases a historic three-peat. Here are BetMGM's early odds, posted April 13, 2026:
- Scottie Scheffler: +450
- Rory McIlroy: +600
- Bryson DeChambeau: +1400
- Jon Rahm: +1400
- Xander Schauffele: +1600
- Ludvig Åberg: +1600
- Cameron Young: +1800
- Collin Morikawa: +2500
Futures prices move all year with form, injuries and results at the other majors, so expect this board to look different by the time the field tees off April 8. We'll keep this section updated as the tournament approaches.
Common Types of Masters Bets
Futures let you bet on how a golfer will fare over the full 72 holes. The most popular is the outright winner market, but you can also back a player to finish in the top 5, top 10 or top 20, or to make or miss the cut.
Masters winner odds go up shortly after the previous year’s tournament ends and keep moving until the opening tee shot. A strong spring on the PGA Tour can shorten a player’s price quickly, while an injury or slump can push it out, so timing your bet matters.
A matchup pits two golfers against each other, and you simply pick which one posts the better score. Most matchups cover a single round, though full-tournament matchups are common as well.
Round matchups are often called 2-ball matchups. A first-round example might look like this:
- Ludvig Åberg to beat Collin Morikawa (-115)
- Collin Morikawa to beat Ludvig Åberg (-105)
The rest of the field is irrelevant. All that counts is which of the two players shoots the lower score. If they tie, most sportsbooks grade the bet as a push and return your stake, unless a separate tie option was offered.
A 3-ball bet puts three golfers together, usually the players in the same pairing for that round, and you choose who will post the lowest score. An example might look like this:
- Bryson DeChambeau (+130)
- Xander Schauffele (+175)
- Justin Thomas (+240)
The odds reflect each player’s chances and show your potential payout, which we explain in the next section of this guide.
Some sportsbooks also offer group bets, which work the same way with four or more golfers in the group.
This market asks which golfer will sit atop the leaderboard after a specific round. You might find Scottie Scheffler at +500 to lead after the opening round, for example.
Round leader bets are settled as soon as that round ends, regardless of what happens the rest of the week. If two or more players share the lead, dead heat rules apply, which means your payout is reduced in proportion to the number of players tied.
The top Masters betting sites roll out a long menu of tournament props. Common examples include:
- Will there be a hole-in-one?
- Will the tournament go to a playoff?
- Will the winner be a first-time major champion?
- Will there be a wire-to-wire winner?
- Winning score over/under
- Top American, top European or top Asian player
Prices on these props can vary widely from one book to the next, so it pays to compare odds across several sportsbooks before you bet.
Live betting opens once the first group tees off on Thursday. Sportsbooks update odds in real time on the outright winner, round leader, matchups, 3-balls and more as scores change across the course.
You can keep betting right up until the final holes on Sunday, when only a handful of players are still in contention.
Some sportsbooks also offer hole-by-hole micro bets during the Masters, such as:
- Will Scottie Scheffler find the fairway off the tee on this hole?
- Will Rory McIlroy reach the 13th green in two?
- Will Jon Rahm make birdie or better on this hole?
- Who will post the better score on this hole: Xander Schauffele or Collin Morikawa?
Understanding the Masters Odds
Every golf betting price tells you two things:
- How much profit you'll make if your bet wins
- The implied probability that the bet will win
Take a golfer listed at +500 to win the Masters. A $100 bet would return $500 in profit if he wins, and those odds carry an implied probability of 16.7%.
How To Read the Masters Odds
US sportsbooks display American odds, which can be either positive or negative. Here's an example of a head-to-head matchup:
- Scottie Scheffler to beat Xander Schauffele (-130)
- Xander Schauffele to beat Scottie Scheffler (+110)
Negative odds show how much you'd need to risk to win $100. At -130, you'd have to bet $130 on Scheffler to make a $100 profit.
You can bet any amount you like, though, and the payout scales accordingly. A $10 wager on Scheffler at -130 would pay $7.69 in profit if he outscores Schauffele.
Positive odds show how much profit a $100 bet would earn. At +110, a $100 bet on Schauffele would pay $110 in profit if he comes out on top.
Scale it down and a $10 bet on Schauffele would return $11 in profit. The plus sign marks him as the underdog, with an implied win probability of about 47.6%, while Scheffler's -130 price makes him the favorite at roughly 56.5%. Those two numbers add up to more than 100%, and the difference is the sportsbook's built-in margin.
How To Bet on the Masters Online
Getting set up to bet on the Masters only takes a few minutes at a legal online sportsbook. Follow these steps to open an account, fund it and place your first golf wager.
Register With an Online Sportsbook
Choose a licensed sportsbook available in your state and open the sign-up form. Enter your email address and create a secure password.
Next, fill in your personal details, including your full name, date of birth, phone number, home address and the last four digits of your Social Security number. If the welcome offer requires a promo code, enter it on the sign-up form, such as TODAY at BetMGM.
Review and accept the terms and conditions, set your marketing preferences and submit your registration.
Verify Your Account
Most new accounts are verified automatically within seconds, as sportsbooks run your details through identity verification systems behind the scenes.
If the automated check comes up short, you’ll be asked to upload documents such as a driver’s license and a recent utility bill. A member of the sportsbook’s team will review them and approve your account.
Make a Deposit
Head to the cashier and tap “Deposit” to add funds. Options typically include debit cards, credit cards in some states, online banking, PayPal, Venmo and more.
Pick your method, enter the amount and confirm the transaction. Most deposits are credited to your account instantly.
Download the App
You can bet on the Masters through a sportsbook’s website in many states, but the mobile app is usually the easiest option. Search for the sportsbook in the App Store on an iPhone or Google Play on an Android device.
Tap to download, confirm with Face ID or your usual method and wait for the app to install. Then open it and log in with your email address and password.
Place a Masters Bet
Tap “Golf” in the sports menu and choose the Masters from the list of upcoming tournaments to see every available market.
Select the odds for any bet you like to add it to your bet slip, then enter your stake. The slip will show your potential payout before you confirm.
Once you place the bet, the stake is deducted from your balance. Winning bets are paid out as soon as the relevant round or the tournament is complete.
Masters Betting Tips: How To Handicap Augusta
Use these Masters betting tips to sharpen your picks for the first major championship of the year.
The Masters is the only men’s major played on the same course every year, which gives bettors years of performance data to study at Augusta National.
Keep these factors in mind as you handicap the field:
- Augusta’s fairways are generous, which lets long hitters swing freely off the tee. That makes driving distance a stat worth weighting heavily.
- Approach play is critical. The greens are firm and full of slopes, so players who consistently hit the right sections of the green have a major edge.
- The four par 5s, ranging from 545 to 585 yards, are the course’s best birdie opportunities. Look for players who score well on long par 5s.
- The bentgrass greens run extremely fast, so strong lag putting and comfort on quick surfaces go a long way.
Course history matters more here than at almost any other event, so a player’s past results at Augusta deserve a close look too.
Plenty of casual fans bet only on the tournament winner, but experienced golf bettors often focus on 2-ball matchups and 3-balls instead.
With the world’s best players all in the same field, picking the champion is a tall order. Comparing two specific golfers and deciding who will shoot the better round is often a more manageable handicap.
If you prefer the outright market, consider spreading your budget across several players rather than putting everything on one golfer.
Shop for the Best Odds
Once you’ve settled on your Masters picks, compare prices at a few different sportsbooks. Here’s how odds on the same 2-ball matchup might differ:
| 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 offers the best price for a Koepka backer, while Caesars has the top number for anyone siding with Zalatoris.
The Masters ranks among the biggest betting events in golf, and sportsbooks typically roll out promotions around it. New customers can claim a welcome offer when signing up with a golf betting site, and existing users often find tournament-specific deals.
Those can include odds boosts, profit boosts and free-to-play prediction contests. Promos can add value to your Masters betting, but avoid using boosts on long shots you wouldn’t otherwise bet just because the price looks bigger.
Betting on the Masters should add to the fun of watching, not take away from it.
Responsible gamblers set a budget before the tournament and stick to it. Never chase losses, and avoid betting when you’re stressed, upset or have been drinking.
Betting on Masters Futures Odds
Masters futures are available at every major online sportsbook, often months before the tournament begins. These are the markets you'll see most often:
- Tournament Winner: Pick the golfer who will slip on the green jacket on Sunday. Playoffs are included, so all that matters is who ultimately wins.
- Top 5, 10 or 20 Finish: Back a player to finish inside a certain range on the final leaderboard. The payout is smaller than an outright bet, but your odds of cashing are much better.
- Make or Miss the Cut: After 36 holes, only the top 50 players and ties move on to the weekend. You can bet on whether a specific golfer survives the cut or heads home early.
Where Can I Legally Place Bets on the Masters?
Sports betting is legal in close to 40 states plus Washington, DC, and every licensed online sportsbook in those markets offers Masters betting options.
Georgia has not legalized sports betting, which means fans at Augusta National can't bet on the tournament from their phones while in the state. However, many of the country's largest markets are among the legal sports betting states, including New York, Illinois, Pennsylvania, New Jersey, Michigan, North Carolina, Virginia, Arizona and Missouri.
More Betting Resources for the Masters
GamingToday offers a full lineup of useful online gambling tools to help you bet smarter. These are especially handy for Masters week:
- Futures Calculator: Convert Masters futures odds into implied probabilities and see how the whole board stacks up.
- Moneyline Calculator: Quickly find the potential payout on any Masters bet at any odds.
- Kelly Criterion Calculator: Figure out how much of your bankroll to stake based on your own estimate of a golfer's chances.
- Fair Odds Calculator: Strip out the sportsbook's margin on a 2-ball matchup to see the true fair price.
- Arbitrage Calculator: Check whether betting both sides of a matchup at different sportsbooks could lock in a guaranteed profit.
How To Bet on the Masters FAQ
The 2027 Masters will be played April 8-11 at Augusta National Golf Club in Augusta, Georgia. Practice rounds are scheduled for April 5-7, with the Par 3 Contest on Wednesday, April 7.
Rory McIlroy won the 2026 Masters at 12-under-par 276, finishing one shot ahead of Scottie Scheffler. It was McIlroy’s second straight green jacket, making him just the fourth player to win back-to-back Masters titles.
Scottie Scheffler opened as the early favorite at +450 at BetMGM after the 2026 tournament, with Rory McIlroy close behind at +600. Bryson DeChambeau, Jon Rahm, Xander Schauffele and Ludvig Åberg rounded out the top of the board. Odds will shift throughout the year, so check current prices before you bet.
Trevor Immelman in 2008, Charl Schwartzel in 2011 and Danny Willett in 2016 are among the most notable long shots to win at Augusta in recent decades. Each was priced well outside the pre-tournament favorites, a reminder that the Masters can still produce surprise champions.
Brooks Koepka, Bryson DeChambeau, Xander Schauffele, Collin Morikawa and Ludvig Åberg are among the current stars still chasing a green jacket. Historically, greats like Greg Norman and Lee Trevino never won the Masters either. The last 10 tournaments have produced seven first-time Masters winners, so new champions are far from rare.
Yes, LIV golfers can play in the Masters if they meet one of Augusta National’s qualification criteria. Past Masters champions receive lifetime invitations, and winners of the previous five US Opens, Open Championships and PGA Championships also qualify, along with the top 12 finishers and ties from the prior year’s Masters.
LIV players such as Jon Rahm, Bryson DeChambeau and Dustin Johnson were all in the field at Augusta in 2026.
An each-way bet, offered at bet365 and a small number of other US sportsbooks, combines two wagers: one on a golfer to win and one on him to place.
What counts as a place depends on the sportsbook, usually a top-5 to top-10 finish, and the place part typically pays a fraction of the win odds, often one-fifth. If your golfer wins, both halves pay out. If he finishes inside the place terms without winning, only the place half pays.
Yes. The IRS treats gambling winnings as taxable income, and you may owe state and local income tax as well, depending on where you live.
Starting with the 2026 tax year, you can only deduct up to 90% of your gambling losses against your winnings if you itemize, so you could owe tax even in a year when you roughly break even. Speak with a tax professional about your situation.
For many bettors, 2-ball matchups are the best way to bet the Masters. Instead of trying to pick the winner from a field full of elite players, you only need to decide which of two golfers will shoot the better score in a given round.
