US Masters Betting Odds

Online sports betting is not yet active in Georgia. Once Georgia sportsbooks launch, we will update this page with the latest Masters betting odds, news, promos, and more.

Golf is a popular option for sports bettors, and the Masters Tournament is the single most-bet-upon golfing event. Not only is the Masters the most prestigious of the four PGA majors, but it annually attracts the most viewers.

When the Masters arrives each spring at Augusta National Golf Club, legal sportsbooks offer many ways to bet on the tournament, including wagers that go beyond simply betting on which player will win. You can bet on matchups between specific players, round winners, over/under bets on final scores, live betting on how players will do on the next hole (or next shot, even), plus props on things like holes-in-one.

Read on for a complete guide to betting on the Masters as well as some of the history behind Georgia’s famed golf tournament.

How to bet on the Masters in Georgia

Masters betting odds for the next year generally come out soon after the tournament ends. These odds will be on individual players to win the tournament. Once the Masters gets closer and the groupings and tee times become available, sportsbooks will start listing other types of bets. 

You might see a favorite like Rory McIlroy at odds of +1000 to win the Masters. If you bet $100 on McIlroy to win at those odds, you’d receive a payout of $1,000. An underdog, meanwhile, might be at +10000 to win, in which case a winning $100 bet would collect a profit of $10,000. 

You’ll also see bets with odds in the negative. For instance, you might see a strong player like McIlroy with odds of -700 to make the cut. In that case, a correct bet of $700 would win you a profit of $100. (See below for more examples of such prop bets.) You’ll find that other bets also use the same system of odds and payouts. 

Futures or outright bets are quite popular, in large part because they tend to have the highest odds and thus can yield the largest payouts. That said, these bets are quite hard to win, so it makes sense to balance them with other less risky bets on the Masters. 

In a way, this is the opposite of other types of sports gambling, where the straight-up “moneyline” bet on who will win a contest is generally one of the more conservative bets you can make. That’s because in other sports you are usually betting on one of two sides. But when betting on Masters golf, you are betting on one player to defeat a field of 90 opponents or so.

Masters prop betting odds

Proposition bets, also known as prop bets or just simply props, are popular in all sports, but especially so when Masters golf betting. These bets focus on certain elements of the tournament such as the performance of individual players or groups of players, or specific events happening.

  • Placing or finishing position — Bet on whether a golfer will finish within the top five, top 10, top 20, top 30, etc.
  • Each-way — Combine two wagers on a single golfer — one on the golfer to win and the other on the golfer to finish within the top three, top five, top eight, etc. These bets have two different payouts, one if the golfer wins and a lesser one if the golfer doesn’t win but finishes within the targeted range.
  • Straight forecast — Bet on the winner and runner-up, in the correct finishing order (not unlike in horse race betting). This is an especially difficult bet to win in a large-field golf tournament. 
  • Round winners — Bet on who will lead the field after each round. You can also bet on which golfer will shoot the lowest score during a particular round.
  • Two- or three-ball matchups — Pick a golfer from among a group of two or three to finish with the best score for either the round or the tournament.
  • Over/under lines — Bet whether a specific golfer will finish over or under a particular total for a round or the entire tournament.
  • Hole-in-one prop — A straightforward “yes” or “no” bet on whether there will be a hole-in-one during the Masters. You can even bet on whether there will be two or more holes-in-one.
  • Lowest tournament round — An over/under bet on what the lowest single-round score will be during the entire tournament.
  • Other props — Bet on whether a player will make an eagle, on the nationality of the winner, on the final margin of victory (regardless of who wins), on whether the tournament will end with a sudden death playoff and more.

As you can see, the possibilities are quite varied. Getting even more exotic, you’ll sometimes find cross-sport bets combining outcomes at the Masters and other sports. Some sportsbooks will even offer props combining outcomes from the Super Bowl in February with Masters results in April. 

We should also mention that parlays are popular as well for those betting the Masters. As when betting on other sports, parlays on the Masters combine two or more bets into a single wager, and you need to get all of your picks correct to win anything.

Live betting on the Masters

This has become a favorite option among many sports bettors. With live betting, you can wager on the tournament as it is going on. The Masters can make for a fun live betting option since the rhythm of the game (with its pauses between shots) allows nice, comfortable windows in which you can place bets if you wish.

If you’re betting on an in-progress tournament, you can, for example, continue to make outright bets on who will win. Of course, Masters odds and payouts will change as the tournament progresses, so betting on the current frontrunner will tend to have lower odds than betting on a player several strokes off the lead. 

You can make live bets on many of the props we described above. You can also bet live on particular holes, such as by wagering whether a player will make a birdie or a bogey. At the Masters, you can also bet live on how players will perform on the Amen Corner sequence of holes (the 11th through the 13th). 

Live betting can be a fun way to enhance your enjoyment of watching the Masters. By following certain players and getting a feel for how they are performing, you can make informed decisions about how they might do going forward, say on a particular hole, during a given round, or for the rest of the tournament.

Best Masters odds boosts and other promotions

Before betting on the Masters, it is worth taking some time and seeing what promotions the sportsbook might be offering that could benefit you. Most online sportsbooks have welcome bonuses and other promotions for new customers, but many likewise have event-specific promos as well, including for the Masters.

Such incentives can include specific odds boosts offering better odds and payouts on particular bets. They also might include promotions such as free bets and other rewards just for betting on the Masters.

Examples of previous Masters odds boosts and promos have included the following:

  • DraftKings Sportsbook in the past has invited bettors to pick any golfer to finish in the top 10 with odds of 100-to-1. The catch was that bettors could not wager more than $1.
  • FanDuel Sportsbook had a similar promotion giving 100-to-1 odds on picking the Masters winner, with the maximum bet set at $5. While those odds resemble what betting on the most unlikely underdogs would pay (i.e., +10000), that would be a nice bet on a favorite whose odds would normally be a lot lower. 
  • BetMGM Sportsbook has had a promotion inviting new customers to bet at least $1 on any golfer to win the Masters, and if that golfer made just one birdie during the tournament, the bettor would receive $100.

Note that with many promos, the money you win usually comes with some stipulations. Sometimes the prize is in the form of a free bet, meaning you have to wager the bonus funds and cannot simply withdraw them. You’ll also find that some promos offer rewards that have playthrough requirements you’ll need to meet before claiming the reward.

Tiger Woods odds to win the Masters

Since winning the 1997 Masters by a jaw-dropping 12 strokes, Tiger Woods has always been a favorite to watch at the tournament.

When 2022 began it didn’t appear Woods would be playing the Masters following extensive injuries he sustained in a car crash. But he made it back to be part of the Masters field once again, and of course all eyes were on him as he chased yet another title at Augusta.

When Woods first announced early in the week the possibility he might play in the 2022 Masters, most sportsbooks listed him among the long shots to win at +10000 or thereabouts. However by the time the first round began on Thursday, odds for Woods winning had moved to the +4000 to +5000 range. At most sportsbooks that places Woods just outside the top 20 or 25 golfers listed as the favorites to win.

Woods started strong with a 1-under first round and did make the cut before ultimately fading during the weekend to finish 47th. Expect him to be back in 2023.

Woods’ 12-stroke win in 1997 still represents the widest margin of victory in Masters history. Over the years, Woods has held or tied over two dozen other Masters records as well. He was the youngest winner at age 21 in 1997 and the second-oldest winner at age 43 in 2019.

All told, Woods has played in 22 Masters tournaments and has won five times, his most recent title coming in 2019. That total is just one behind the all-time record of six wins by the legendary Jack Nicklaus

3 key stats for betting on Masters golf

The Masters has a long and storied tradition, and as a result, it has produced some patterns that those who like to bet on the Masters have noticed. 

While trends can be tricky in sports betting (and even deceiving), they tend to have some weight at the Masters since the tournament takes place on the same course every year. That said, the weather can vary greatly during the early spring in Georgia, which in turn can impact how well or poorly players perform. 

Obviously, there are never any guarantees when it comes to Masters betting. However, here are three tendencies worth keeping in mind:

  • Fourteen of the last 16 Masters champions were ranked inside the world’s top 30: In other words, despite Bill Murray’s memorable monologue as Carl Spackler in “Caddyshack,” it’s rare to witness a Cinderella story at Augusta.
  • Nineteen of the last 24 Masters champions made the cut in their previous Tour start: This is one of several trends indicating that players who have enjoyed recent success tend to do better at the Masters than those who have been faltering.
  • Three of the last 26 Masters champions led after the first round: Out of the last 25 first-round leaders, only Trevor Immelman (2008), Jordan Spieth (2015) and Dustin Johnson (2020) finished on top.

By the way, Spieth has played the Masters nine times and has finished as the first-round leader on three occasions (2015, 2016, 2018). He was tied for eighth after the first round in 2021, ultimately finishing tied for third. Incredibly, Spieth has five top-three finishes at the Masters during that nine-year span. 

When and where is the 2023 Masters?

Below find details for the 2023 Masters:

  • Course: Augusta National Golf Club
  • Location: Augusta, Georgia
  • Tournament Dates: April 6-9, 2023
  • Other Masters events: Practice Rounds (April 3-4), Par 3 Contest (April 5) 
  • Television and streaming coverage: CBS, ESPN (TV), CBS Sports app, Masters.com, Masters app 
  • Course Length: 7,510 yards (Par 72)
  • 2022 Purse: $15,000,000
  • Recent Masters champions: Scottie Scheffler (2022), Hideki Matsuyama (2021), Dustin Johnson (2020), Tiger Woods (2019), Patrick Reed (2018)

Top Georgia players at the 2022 Masters

The Masters typically has a field of around 85 to 90 players competing, the smallest of the four majors. Every year players with Georgia ties make up part of that field, often making Georgia the most represented state in the tournament.

A total of 11 players with Georgia ties qualified to be part of the 2022 Masters field. All attended schools in the state and/or live in Georgia. Here are those players with their Georgia connections:

  • Stewart Cink — Georgia Tech alumnus; lives in Duluth
  • Harris English — UGA alumnus; born in Valdosta, lives in Sea Island
  • Brian Harman — UGA; born in Savannah, lives in St. Simons Island
  • Russell Henley — UGA alumnus
  • Zach Johnson — lives in St. Simons Island
  • Kevin Kisner — UGA alumnus
  • Larry Mize — Georgia Tech alumnus; born in Augusta, lives in Columbus
  • Patrick Reed — Augusta State alumnus
  • Sepp Straka — UGA alumnus; lives in Athens
  • Hudson Swafford — UGA; lives in Sea Island
  • Bubba Watson — UGA alumnus

Unfortunately for English, a hip injury kept him out of the 2022 Masters. If he had played, it would have set a record for the most University of Georgia graduates ever to play in a single Masters. As it was, the six Bulldogs who took part matched a record set in 2015. In fact, six players is the current record for most players from any college or university to play the Masters.

Here is a rundown of how those Georgia players fared in the 2022 Masters:

  • Russell Henley — tied for 30th
  • Sebb Straka — tied for 30th
  • Hudson Swafford — tied for 30th
  • Patrick Reed — tied for 35th
  • Bubba Watson — tied for 39th
  • Kevin Kisner — tied for 44th
  • Stewart Cink — missed cut
  • Brian Harman — missed cut
  • Zach Johnson — missed cut
  • Larry Mize — missed cut

Greatest moments for Georgia golfers at the Masters

With so many Georgia players taking part, it’s no surprise to find there have been many memorable moments for them at the Masters. Here are some of the most unforgettable:

  • 1973 — Tommy Aaron is the first GA native to win the Masters: Hailing from Gainesville, Tommy Aaron took the green jacket after a final round comeback gave him a one-stroke victory over J.C. Snead.
  • 1987 — Larry Mize becomes the first and only Augustan winner: Born and raised in Augusta, Larry Mize learned golf as a kid at the Augusta Country Club. Then at age 29 he won the Masters at nearby Augusta National after winning a three-way playoff versus Seve Ballesteros and Greg Norman. On the second playoff hole, Mize incredibly holed a 100-foot chip shot to birdie the par-4 11th and secure the win. 
  • 2012 — Bulldog Bubba Watson wins one for UGA: University of Georgia alumnus Bubba Watson also needed sudden death to win the 2012 Masters, edging Louis Oosthuizen on the second playoff hole to take the title. Georgia Tech alum Matt Kuchar was also in the mix until the end, ultimately finishing tied for third.  
  • 2014 — Bubba joins rare company with second victory: Just two years later, Watson would claim a second Masters title, this time cruising to victory by three shots over Jonas Blixt and first-timer Jordan Spieth. With the win, Watson became the 17th player to win the Masters more than once.
  • 2018 — Augusta State’s Patrick Reed takes title: After never finishing in the top 20 during his first four attempts, Reed broke through to win the 2018 Masters, topping runner-up Rickie Fowler by a single stroke. Reed was already well-known to Georgians for having led the Augusta State University golf team to two NCAA titles in 2010 and 2011.

By the way, Zach Johnson is another Masters champion with a Georgia connection. Johnson won the 2007 Masters during a particularly tough week at Augusta National, finishing one over par for the tournament to outlast Tiger Woods, Retief Goosen, and Rory Sabbatini, who tied for second at two strokes back. Johnson’s final score of 289 matched the highest winning score ever at the Masters. The following year, Johnson would move to St. Simons Island, a favorite location for many pro golfers.

The Masters: ‘A tradition unlike any other’

That’s the line famously delivered by Jim Nantz to describe the Masters Tournament. The Masters is rich with traditions like the pre-tournament Champions Dinner, the honorary tee shots by golf legends to kick off the first day, and of course the famous green jacket for the champion.

There are many other distinctive and even quirky elements that make the Masters different not just from other PGA majors but every other golf tournament, period. Some of those eccentricities include the following:

  • Caddies have to wear Augusta National uniforms. In fact, it wasn’t until 1983 that golfers could use their own caddies. Before that, they had to use ones that the club supplied.
  • Forget about playing a practice round when visiting the Augusta National Golf Club to watch the Masters. Membership is by invitation only, and there is no application process.
  • Augusta prohibits cameras during the tournament (Thursday through Sunday), although it allows them for the early-week events. 
  • Phones and other electronic devices are also prohibited at all times. There are pay phones available (for which you’ll probably have to wait in line). 
  • The Augusta National pro shop is the only authorized retail location that sells officially licensed Masters merchandise, although you can also buy it online. 
  • The entire course is fenced in, which means animals are a rarity on the grounds. Even bird sightings are rare. 
  • Patrons cannot ask for autographs on the golf course, but they can at the practice range.
  • Tickets to see the Masters are relatively inexpensive, although understandably in high demand. Food and beverages are cheap as well, with sandwiches and drinks just $2 to $3 apiece.
  • Speaking of sandwiches, recipes for the famous Masters Tournament pimento cheese and egg salad sandwiches served at Augusta National are secret.

FAQ about the Masters

Why does the Masters champion receive a green jacket?

The tradition of awarding the winner of the Masters a green jacket dates back to 1949. About a decade earlier, the green jacket had become the official attire of Augusta National members. Since the tournament champion becomes an honorary member of the club, that player receives a green jacket upon winning the Masters. Incidentally, the reigning champion gets to keep the jacket for a year but must return it when there is a new champion. It remains the winner’s property but is thereafter stored in a special cloakroom at the club. Traditionally, the previous year’s winner is the one who presents the new champion with a green jacket.

Which hole has seen the most holes-in-one in Masters history?

You don’t see a hole-in-one that often at the Masters. The average is about one every three years, although there have been years with multiple holes-in-one. There are four par-3 holes on the course, and more than half of the holes-in-one in Masters history has happened at the par-3 16th.

Have the Masters ever taken place somewhere other than Augusta National Golf Club?

No, the Masters has always been at Augusta National. In fact, the Masters is the only one of the four golf majors that are always on the same course. 

Have the Masters ever been canceled?

Yes, the Masters was canceled from 1943-45 due to World War II. It was nearly canceled in 2020 due to the COVID-19 pandemic, but after being postponed from April, the tournament, at last, took place in November that year. 

What is Amen Corner at the Masters?

Amen Corner refers to the 11th, 12th, and 13th holes, what many consider the most difficult three-hole stretch on the course at Augusta. Some golfing aficionados will point out that the term refers specifically to the latter part of the par-4 11th (starting with the second shot), the entire par-3 12th, and the start of the par-5 13th (the first two shots). The name alludes to golfers’ needing to say their prayers to make it through those holes without giving away too many strokes. Sportswriter Herbert Warren Wind was the first to use the term in print in a 1958 Sports Illustrated article.

What are the 18 holes at the Masters named after?

The famed golf course was once the site of a plant nursery, and thus each of the 18 holes has the name of a particular tree or shrub. Here are the names of all 18 holes:

HoleName
1Tea Olive
2Pink Dogwood
3Flowering Peach
4Flowering Crab Apple
5Magnolia
6Juniper
7Pampas
8Yellow Jasmine
9Carolina Cherry
10Camellia
11White Dogwood
12Golden Bell
13Azalea
14Chinese Fir
15Firethorn
16Redbud
17Nandina
18Holly

Who receives an invite to play the Masters?

As noted, the Masters Tournament is an invitation-only event. Here’s a list of who gets invited:

  • All previous Masters winners (lifetime invitation).
  • The last five US Open, PGA, and British Open winners.
  • The last three Players Championship winners. 
  • The most recent US Amateur champion and runner-up.
  • The most recent Amateur Champion.
  • The most recent British Amateur, Asia Amateur, Latin America Amateur and US Mid-Amateur champions.
  • The reigning Olympic gold medalist.
  • The top 12 finishers in the previous year’s Masters (including ties).
  • The top four finishers in each of the other three majors during the previous year (including ties).
  • The top 50 ranked golfers in the Official World Golf Ranking during the previous calendar year and for the 12 months prior to the event.
  • All winners of Tour Championship-qualifying PGA Tour events since the previous Masters. 
  • All players who qualified for the previous year’s Tour Championship.