The PGA Tour officially enters major season this week, as golfers head to Augusta National for The Masters. And for the first time ever, Canadians will be allowed to place wagers on the action with regulated Ontario sportsbooks. Read on for insight and tips on how to bet on The Masters in Canada.
The country’s new sports betting legislation is live in Ontario as of Monday, April 4, and The Masters marks one of the first major sporting events in this new age for Canadian sports bettors.
For those residents eager to place wagers at one of the newly regulated Ontario sportsbooks operating within the province, this article serves as a how-to guide for placing bets on The Masters in Canada.
Best Ontario Sportsbooks For PGA Betting September 2023
- BetMGM Sportsbook Ontario >> See welcome offer here
- Caesars Sportsbook Ontario >> See welcome offer here
How To Open An Ontario Sportsbook Account
The first step is to open an account at one of the newly regulated sportsbooks in Ontario.
Choosing the sportsbook that’s right for you requires just a little research, which you can easily do right here at Gaming Today. Some of the more popular and reliable brands include BetMGM Ontario, Caesars Sportsbook Ontario, BetRivers Ontario, and PointsBet Ontario. Each sportsbook is unique, and it is worth exploring each provider before opening your account.
Once you have found your new sportsbook, you will need to provide some basic personal information and a valid form of payment in order to make your first deposit.
Also, it’s important to understand that sportsbooks are looking to capture a big piece of this new Ontario sports betting market and are offering sign-up rewards for new players.
How To Read Golf Odds In Ontario
Odds can be expressed in three different ways: Sportsbooks use Fractional odds (10/1), Moneyline Odds (+1000), or Decimal Odds (11.0) next to a golfer’s name to represent the potential payout.
While fractional odds are simple to understand, the other two systems might require some clarification.
Moneyline Odds, or American Odds, represent the amount a bettor would win if they made a $100 bet.
Decimal Odds, or British odds, represent the amount a bettor would win if they made a $1 wager.
For example, Corey Conners is currently available at most sportsbooks at odds of 50/1. That means you would win 50 dollars for every dollar you wager, and his odds might be expressed in one of three ways. Either as 50/1 (Fractional Odds) +5000 (American Odds) or 51.0 (British Odds).
Type Of Masters Bets In Ontario
There are many ways to bet on golf, and sportsbooks offer the most wagering options for the majors such as The Masters. Here’s a quick rundown of some popular ways to bet on golf:
Outright Market
An outright bet is one you would make if you were looking to pick the winner of the tournament.
If, for example, you think Jordan Spieth has a good chance to put on the Green Jacket, you could bet him at 14/1 (+1400) in the outright market.
That wager pays off only if Jordan Spieth wins the tournament.
This is by far the most popular type of golf bet. Picking the outright winner from a field of 90-100 golfers is difficult and requires some luck, of course, and that’s why the potential payouts are so large.
Matchups
Another way to bet on golf tournaments like The Masters is head-to-head matchups.
A matchup bet is one you place on a golfer simply to beat another golfer in the field. Sportsbooks typically match two golfers of comparable skill levels and take action on both sides.
For example, you might think Brooks Koepka has a good chance to play better than Jon Rahm at The Masters. You would simply place a matchup wager on Koepka and would win this bet if Koepka finishes higher than Rahm.
The odds on Koepka to beat Rahm may be +110. This means a winning $100 bet would mean a $110 profit (your account would be returned $210 — your $110 win plus $100 original bet).
In the same matchup, Rahm’s odds may be -130 to finish ahead of Koepka. This means that a $130 bet is required for a $100 profit.
You don’t have to wager, of course, but your winning bets would pay out in those ratios.
The great thing about a matchup bet is that your golfer does not need to win the tournament in order to cash your ticket. Your golfer simply needs to finish one spot higher than his opponent.
Masters Prop Bets
Prop bets, short for “proposition,” are bets that do not necessarily have bearing on the final outcome of the tournament, but instead are action on certain events that take place within the tournament.
The prop market for golf tournaments includes a long list of wagers for bettors to enjoy. Some of the more popular prop bets for golf include:
- Will there be a Hole in One? Yes or No.
- Will An Individual Golfer Make the Cut? Yes or No.
- Who Will Be The Top Golfer From Canada? Spain? Australia?
- Who Will Be the First Round Leader?
- Will Someone Break The Course Record of 63 At Augusta National?
And so on.
While these bets are mostly for fun, there are often a few good value bets to make in the prop market for bettors willing to do some digging!
Have Fun!
It’s a great time to be a sports bettor in Ontario. With a fully regulated sports betting market and a number of reliable providers in the province, the future is bright for sports betting in Canada. I can’t think of a better way to celebrate than by watching The Masters this week with a little action on it.
Good luck out there!
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