Nina Caldwell
Golf betting has become increasingly popular, with the PGA Tour partnering with multiple sportsbooks. Golf betting offers a wide variety of options for bettors, from outright markets to head-to-head matchups, prop bets, and spread bets. The most common type of golf bet is picking the tournament winner, but bettors can also wager on a particular golfer to finish within a certain range, such as the top 5 or top 10. Odds are typically displayed in American, decimal, or fractional formats, with American odds centred around winning or wagering $100 on a given bet. For example, a favourite might be displayed at -300, meaning you would need to wager $300 to make a profit of $100, while an underdog might be at +500, meaning a $100 bet would profit $500.
| Characteristics | Values |
|---|---|
| Type of bet | Outright markets, head-to-head matchups, specialty props, moneyline, round leader, margin of victory, nationality of winner, futures, each-way, prop, parlay, spread |
| Odds | Decimal, fractional, American |
| Odds indicators | Minus (-) sign for favourites, plus (+) sign for underdogs |
| Odds values | Range from +500 to +50000 (500/1) |
| Payout | Depends on odds and stake |
| Stake | Can vary, doesn't have to be $100 |
| Number of competitors | Up to 156 players in some PGA Tour events |
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What You'll Learn
- Understanding odds: Odds are centred around wagering $100 on a given bet. Odds for favourites have a minus (-) sign, indicating the amount to wager to make $100. Underdogs have a plus (+) sign, indicating the amount won for a $100 wager
- Betting markets: Common markets include picking the tournament winner, head-to-head battles, and place markets (top 5, 10, 20, etc.)
- Spread betting: This involves betting on the outcome of a prediction or spread. The more accurate the prediction, the more you can win
- Each-way bets: These are two bets in one: for a golfer to win and to place in the top 5 or 10. This offers more security than a single bet
- Prop bets: These enable you to bet on almost anything that may unfold in a round, such as a hole-in-one, player scoring over/under, or the nationality of the winner
Understanding odds: Odds are centred around wagering $100 on a given bet. Odds for favourites have a minus (-) sign, indicating the amount to wager to make $100. Underdogs have a plus (+) sign, indicating the amount won for a $100 wager
Golf provides a number of options for bettors. From outright markets to head-to-head matchups, specialty props, and more, there is no shortage of variety for those seeking value each week.
Understanding Odds
Odds are centred around wagering $100 on a given bet. Odds for favourites will typically have a minus (-) sign, indicating the amount one needs to wager to make $100. On the other hand, underdogs will usually have a plus (+) sign, indicating the amount won for a successful $100 wager. It is important to note that wagers are not limited to increments of $100. For instance, a $1.30 wager on a -130 favourite would win you $1, whereas a $1 bet on a +110 underdog would win you $1.10.
Odds are subject to constant change and are based on a variety of factors, including bets received, player-related news, and weather forecast changes. They are not static but rather a snapshot of a given moment in a given market.
Examples
- If a golfer has a +300 money line, you will need to wager $300 to make a profit of $100 if the golfer wins.
- A +500 money line means a $100 bet will yield a profit of $500, as this bet is considered more of a long shot compared to a bet with a -300 money line.
- If Rory McIlroy is +1000 (also written as 10/1) to win a tournament, it means that for every $100 you bet on McIlroy, you win $1,000 if he wins. A $10 bet at +1000 odds will win you $100, resulting in a total payout of $110, including your original stake.
- In a matchup bet, Jordan Spieth and Justin Thomas are priced evenly at -110. A minus price, like -110, indicates how much you need to wager to win $100. So, if you bet $11 on Spieth and your friend bets $11 on Thomas, one of you will win $10, and the house will keep the extra $1, known as the "juice".
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$4.99
Betting markets: Common markets include picking the tournament winner, head-to-head battles, and place markets (top 5, 10, 20, etc.)
Golf betting markets offer a wide range of options for bettors. Common markets include picking the tournament winner, head-to-head battles, and place markets (top 5, 10, 20, etc.).
Picking the tournament winner, also known as an outright winner bet, is one of the most straightforward and popular types of golf bets. Bettors attempt to predict which player will win the entire tournament. Given the high number of competitors in golf tournaments, the odds of correctly predicting the winner are often long, resulting in higher payouts. Favorites can have relatively high odds, such as +1000 (10 to 1) or higher.
Head-to-head battles, also known as matchup bets, pit two players against each other for the full tournament or a specified round. Bettors wager on which golfer will have the better score over that period. These matchups are usually between players of similar odds, creating an exciting battle for bettors to follow.
Place markets, also known as place finish bets, involve wagering on a player to finish within a certain position range, such as the top 5, 10, or 20. These bets offer a higher chance of winning compared to outright winner bets, as the bettor only needs their chosen player to finish within a specified range rather than winning the tournament outright. The odds for place finish bets are typically lower, reflecting the increased likelihood of a positive outcome.
In addition to these common markets, golf betting also offers a range of prop bets or side bets that do not rely on predicting the tournament winner. These include betting on a hole-in-one, the player scoring over/under a set mark, and the nationality of the tournament winner. With so many options available, golf betting provides a diverse and engaging experience for those looking to wager on the sport.
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Spread betting: This involves betting on the outcome of a prediction or spread. The more accurate the prediction, the more you can win
Spread betting is a type of golf bet that adds a new dimension to the game. It is derived from financial markets and involves predicting whether a selection will perform better or worse than a spread price, similar to buying or selling a stock. For example, if you think a player will finish in a better position than the spread, you would sell on the spread, and if you think they will finish worse, you would buy on the spread.
In spread betting, you can bet on various markets, such as the Finishing Position market, where you predict where a player will finish in a tournament. For example, if a player has a Finishing Position spread of 41-44, you would sell if you think they will finish better than 41st and buy if you think they will finish worse than 44th. Another market is the Leaderboard/Winner market, where high tournament finishes are rewarded with points. For example, 1st place receives 80 points, 2nd place 40 points, 3rd place 30 points, and so on.
Spread betting also allows you to change your mind during the tournament and close out existing bets to take a profit or limit a loss. This flexibility is advantageous as it gives you an active interest throughout the tournament. However, it's important to remember that the more accurate your prediction is, the more you win, but the more wrong you are, the more you lose. Therefore, it's crucial to consider your potential losses when placing a spread bet.
When placing a spread bet, it's essential to choose a stake level you are comfortable with, as different markets can vary in volatility. Additionally, understanding how to read odds and knowing the odds for various golf bets is crucial for effective betting. Odds can be displayed in different formats, such as decimal odds, fractional odds, and American odds, each with its own way of indicating the probability of an outcome and calculating potential payouts.
Overall, spread betting on golf involves predicting the performance of players relative to a spread price, allowing you to adjust your bets during the tournament. By selecting appropriate stake levels and understanding the odds, you can make informed decisions and manage your risks while potentially profiting from your predictions.
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Each-way bets: These are two bets in one: for a golfer to win and to place in the top 5 or 10. This offers more security than a single bet
Each-way bets are a popular betting concept in Europe, but they are not yet mainstream in the US. They are a type of golf wager that involves making two bets in one: one on the golfer to win the tournament, and another on the golfer to finish within a certain range, such as the top 5 or 10. This gives bettors more leeway in case their chosen golfer doesn't win but still finishes in a top spot.
Each-way bets are a good option for golf tournaments because there are so many runners in the field, making it difficult to pick the outright winner. The number of places to pay out can vary in each tournament, with five often being the standard, but in recent years this has increased and now ranges between five and 12.
The dead-heat rule also comes into play more frequently in golf. This is when two or more participants tie for a position in an event. If there is a tie, sportsbooks will pay out partially depending on how many players tied for that spot. For example, if you bet $20 on Guido Migliozzi at 200-1 at the 2021 U.S. Open, and your book was paying out spots 1-5 for the place bet, half your bet ($10) would be on him to win at 200-1, with the other $10 to finish top 5 at 50-1. However, as Migliozzi tied with two other players for fifth, the 50-1 payout would be split three ways, resulting in a payout of less than 17-1.
You can increase or decrease the number of places when betting pre-event on selected golf events with Each Way Extra. This gives you extra security at lower odds, or you can increase the price by removing places.
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Prop bets: These enable you to bet on almost anything that may unfold in a round, such as a hole-in-one, player scoring over/under, or the nationality of the winner
Prop bets, or proposition bets, enable you to bet on specific events or outcomes within a golf tournament or round. These bets do not involve predicting the overall winner, but rather focus on unique occurrences that may unfold.
One example of a prop bet is wagering on whether a hole-in-one will occur during a tournament, or even by a specific player. Holes-in-one are rare but not unheard of, so this bet adds an exciting element to any tournament.
Another prop bet option is player scoring over/under. Here, the betting operator will set a mark for an individual round, and bettors can wager on whether a specific player will score over or under that mark. For instance, the betting operator may set the mark at 69.5 on a par-72 course, and bettors can bet on whether a particular player will score above or below that number.
Prop bets also include wagers on the nationality of the tournament winner. This type of bet requires some research on the top contenders and their nationalities.
Prop bets can be a fun and different way to engage with a golf tournament. They can be placed on a range of specific aspects, such as statistical outcomes or milestones achieved by players.
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Frequently asked questions
Golf provides a number of options for bettors, from outright markets to head-to-head matchups and specialty props. The most common way to bet on golf is to pick the tournament winner. Other popular bets include:
- Nationality of the tournament winner
- Whether a player will make the cut
- Whether there will be a hole-in-one
- Player scoring over/under
- Finishing position
Odds will be shown with either a plus (+) sign before the number or a minus (-) sign before the number. Odds with a plus sign indicate how much you would profit with a successful $100 bet. Odds with a minus sign indicate the amount of money you need to risk to win $100. For example, a +150 odds means a $100 bet will have a profit of $150. On the other hand, a -150 odds means you need to wager $150 to make a profit of $100.
When betting on golf, it is important to consider the player's form and course history. Some courses may fit a player's eye, and golfers often consistently play well on particular tracks. It is also important to choose a stake level you are comfortable with for different markets.
