The PGA Tour is an important sporting event featuring several golf tournaments like the PGA Championship, the Masters, and the British Open.
With many tour events occurring every year, at least one tournament’s bound to be scheduled each month. As such, sports betting enthusiasts have plenty of chances to bet on world-class golfers the whole year.
However, casual bettors or beginners interested in placing golf bets may find the odds confusing or overwhelming. Moreover, there are many ways to bet on golf, and bettors may find it challenging to choose which method best suits them.
MaximBet.com provides a guide for you to understand what golf odds are and how to read them. This guide will also list the different golf betting methods so you can choose the type most comfortable for you.
We offer betting opportunities in other sports leagues such as the MLB, NBA, NFL, NHL, and UFC. You may also place bets on various sporting events like the World Series, the NBA Draft, and even the Olympics.
How Do Golf Odds Work?
When reading golf betting odds for the first time, you may encounter betting lines like the following:
PGA The Open Championship Odds
- Collin Morikawa +1800
- Louis Oosthuizen +1800
- Xander Schauffele +2200
- Patrick Reed +2800
- Hideki Matsuyama +3300
- Daniel Berger +4000
- Robert Macintyre +4000
- Will Zalatoris +5000
- Abraham Ancer +6000
- Webb Simpson +6600
- Jason Kokrak +10000
- Phil Mickelson +10000
- Russell Henley +12500
- Brian Harman +15000
- Kevin Na +15000
- Gary Woodland +15000
- Si Woo Kim +15000
- Charl Schwartzel +20000
- Brandt Snedeker +20000
- Seamus Power +20000
Golf odds shown like the examples above are futures bets. These bets are written like American odds or moneylines. These odds may be displayed with a plus (+) or a minus (-) sign.
If a player’s odds have a minus (-) sign, that player is the favorite. If the player’s odds are displayed with a plus (+) sign, that player is considered the underdog.
Sportsbooks like MaximBet.com set golf odds depending on their assessment of the players’ chances of winning the tournament. The lower the odds, the higher the perceived likelihood that the player will win.
In most golf futures bets, there may be more than one favorite or underdog. In cases like these, the player with the lowest odds is the most favored, while the one with the highest odds is the least favored.
From the list above, Morikawa with +1800 odds is the most favored, and Power at +20000 odds is the least favored player.
For the winnings, futures with minus odds may be treated as the amount you have to bet to win $100.
For example, if a player has -150 odds, you have to bet $150 to earn $100 when that player wins. Since your original stake is returned to you together with your earnings, your total payout will be $250 ($100 profit plus $150 bet).
For futures, plus odds may be considered the amount to win on a $100 bet.
Suppose you place a $100 stake on Schauffele at +2200 odds. If he wins the championship outright, your profit will be $2,200. When you get your $100 stake back, your payout will be $2,300.
Bettors may place higher or lower bets depending on how much they are willing to stake. For example, a $50 bet on Abraham Ancer with +6000 odds will earn you $3,000 if he wins.
You can calculate your winnings as ((50/100) * 6000 = $3,000). Adding your $50 stake back, you will receive a $3,050 payout.
On the other hand, a $200 bet on Robert Macintyre with +4000 odds will give you $8,000 if he wins. To compute, ((200/100) * 4000 = $8,000). With your $200 returned, your total payout will be $8,200.
Online sportsbooks may automatically calculate your estimated winnings on your bet slip when you start placing your bets. This feature may reduce the need for manual computations.
With futures bets, there may be a good chance that the odds will change throughout the season. These changes may cause a player’s winning chances to increase or decrease as the season progresses.
Factors like matches won throughout the season may affect a player’s futures odds. For example, if Dustin Johnson has high odds at the beginning of the PGA Tour and starts winning a few matches in a row, his championship odds may decrease.
Most Popular Ways to Bet on Golf
If you feel like getting the hang of futures betting and want to try your hand at other golf betting methods, you can choose from the following ways to bet on golf:
Odds to Win: Outright Winner
This golf bet is an easy and popular betting method. You simply pick the player you think will win the tournament. If that player wins, you win the bet.
Suppose you bet $100 on Rory McIlroy at +1200 odds to win the U.S. Open. If he wins, you will receive $1,200 plus the $100 you placed on him.
Although this method is simple to understand, there may be plenty of golfers to choose from. Consider researching the players to get an idea of which golfers have better chances of winning.
When there are many participants in a four-round tournament, golfers are often grouped in threes during the first two rounds. In a three-ball betting method, you place a bet on which of the three players in the group will have the lowest score.
Let us take the following odds as an example:
Sungjae Im +150
Adam Scott +175
Kevin Kisner +230
Suppose you bet $100 on Adam Scott at +175 odds. If he gets the lowest score among the three, you win $175. Similarly, if Kisner wins and you bet $100 on him, you win $230.
In some instances, two players may tie for the lowest score. In that case, a push happens. You don’t win the bet, but you still get your stake back.
This is similar to a three-ball bet except that there are only two golfers in the group, like a matchup. You pick which golfer will have the lowest score.
Take this pair as an example:
Justin Thomas +120
Bryson DeChambeau +120
At +120 odds, placing a $100 bet on Thomas will give you $120 if he wins the round. The same goes for DeChambeau if you bet on him and he wins.
Like three-ball and match betting, group betting involves several golfers, usually four or more, in a group. These golfers are typically selected from the same category or relative rankings. Their odds may not be too far from each other.
Bettors stake on which golfer within the group will have the best finish or the lowest score after 72 holes.
Futures are bets set by oddsmakers weeks or months before the scheduled event. They are usually centered on significant sporting events in the distant future, such as championship matches.
Compared to standard bets such as moneylines, spreads, or totals, futures may offer higher payouts. As soon as the odds are posted, bettors can start placing their bets in advance.
Some tournaments where you can place futures bets include:
- WGC-FedEx St. Jude Invitational
- Wyndham Championship
- Ryder Cup
- FedEx Cup Playoffs
- Korn Ferry Tour
Suppose you bet $100 on Brooks Koepka at +2500 odds to win in the FedEx Cup. If Koepka wins the championship, you will win $2,500.
Note that in futures bets, the odds you bet on will be the basis for your winnings, regardless of whether the odds change later or not.
Let us say Koepka’s starting odds were +2500, and you bet on those odds. If those odds change to +500 later in the season and he wins the Cup, you still receive a $2,500 profit, not $500.
Live betting involves placing bets while the tournament or match is ongoing or being broadcast live.
Suppose you bet on Jon Rahm, and he ends up discontinuing in the middle of the tournament. You may change your bet and place it on another golfer, like Justin Thomas, when you are live betting.
As the tournament progresses, the odds during a live betting session may change. Be sure to exercise caution when placing bets.
Download the MaximBet app on your mobile device today. Be sure to not miss any golf action and enjoy the comforts of live betting while you are on the go.
Parlay betting is placing two or more bets into one betting ticket. For bettors to win the entire parlay, all those bets on their bet slip must win.
However, if even one bet loses, the bettor loses the entire parlay.
For example, you may want to bet on Joe Dahmen to beat Brandon Grace in a match bet. Then you may also place a stake on Jordan Speith to be the outright winner. With both bets on one bet slip, you have just made a parlay.
An each-way is a type of bet where bettors make two bets on one golfer. The first is a “win” bet, and the second is a “place” bet.
Let us take Tommy Fleetwood’s odds as an example:
Each-way 1/4 1-2-3-4-5
Tommy Fleetwood +2000
The “1/4” denotes the “win” part, meaning your payout is equal to one-fourth of the odds amount plus your stake. The “1-2-3-4-5” means the golfer has to place in the top five.
Since it goes without saying that winning the “win” bet also means winning the “place” bet, the total amount is inclusive of the “place” winning.
Let us say you placed $20 on the “win” bet and another $20 as a “place” bet, making your total stake $40. If Fleetwood wins first place, you will receive a $540 payout.
To compute the total payout, (2000 * 1/4) + $40 = $540.
To compute only for the “win” part of the payout, ((20/100) * 2000) + 20 = $420.
If Fleetwood does not win first place but manages to land within the top five, only the “place” part will be calculated. Your payout for the “place” bet will be $120.
To compute for the “place” payout, (20 * 5) + 20 = $120.
Props are bets based on whether a specific situation within a sporting event will happen or not. Because props deal with individual milestones rather than final outcomes, they may be considered novelty bets.
Prop bets may be a fun and unique way to experience sports betting. In golf, there are many different ways to bet on props. Some examples include the following:
- Will Harold Varner III score a hole-in-one?
- Will the next WGC-FedEx St. Jude Invitational tournament be held in Memphis, TN?
- Will Tiger Woods be among the top 10 golfers after the first round of the PGA Championship?
- Will the Wyndham Championship still be played in Sedgefield Country Club in Greensboro, NC?
- Who will be the top U.S. golfer overall?
- How often will a particular golfer’s name be mentioned in a match that the golfer is not participating in?
Most Popular Golf Events to Bet on
Among the numerous golf events occurring every year, the most popular ones to bet on are the major PGA golf tournaments such as:
- The Masters
- PGA Championship
- The U.S. Open
- British Open
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