Golf Betting - How to Bet on Golf

Jordan Spieth follows the flight of a shot. Matt King/Getty Images Sport

In golf betting, there are generally three types of different wagers a bettor can make for any given golf tournament. You can place a bet on a particular golfer to win the event, wager that a golfer will place in the top three, or bet that a particular golfer finishes higher than another golfer.

When looking at the odds of a golfer to win an event, bettors will generally see something along the lines of:

Tiger Woods + 150
Phil Mickelson + 250
Steve Stricker + 300
Jeff Overton + 700
Ernie Els + 700
Field + 600

These odds are essentially listed as money line odds, meaning for every $10 you wager on Tiger Woods you would win $15 if he wins the race. Those wagering on Overton would win $70 for every $10 bet. Since your wager is returned to you on a winning bet, those wagering $10 on Overton would receive $80 back from a sportsbook and not $70, as sportsbooks require you to pay for your wager at the time it is made. Therefore, you would receive $70 plus your original $10 bet.

Many tournaments will include a betting entry called "Field," which consists of all other golfers besides the ones listed by the sportsbook. Even though a bettor gets more than one golfer with one wager, the field consists of those golfers given the least opportunity to win and is usually best avoided.

The odds will naturally be lower when betting on a golfer to finish in the top three, as the sportsbook must pay off three different winning bets, as opposed to just one.

Using the example above, odds for the golfers to finish in the top three would resemble:

Tiger Woods - 160
Phil Mickelson + 100
Steve Stricker + 110
Jeff Overton + 200
Ernie Els + 200
Field - 110

In this case, a bettor would have to risk $16 to win $10 that Tiger Woods will finish first, second, or third, while the bettor making a wager on Jeff Overton stands to win $20 on their $10 wager, instead of $70.

The last commonly placed bet in golf betting is head-to-head finish between two players. Here, a bettor doesn't really care what place the golfer finishes in, as long as the golfer wagered on finishes higher than the other golfer.

The odds for this type of bet will look something like:

Tiger Woods - 190 Steve Stricker + 150

In this example, bettors wagering on Woods to finish higher than Stricker will be asked to risk $19 to win $10, while bettors believing that Stricker will finish higher than Woods will put up $10 to win $15.

The four Grand Slam events may carry a few additional betting opportunities in the form of different proposition bets, such as the winner's score, if the first-round leader will win the tournament or whether or not any holes-in-one will be made during the tournament. These are simply to add a little more excitement to the tournament, as more people will wager on the well-known tournaments than they will on a typical event.

Those familiar with sports gambling will have no trouble making the transition to golf wagering, while those new to sports betting should be able to pick up the concepts of golf betting without a hitch.

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Your Citation
Moody, Allen. "Golf Betting - How to Bet on Golf." ThoughtCo, Dec. 25, 2015, Moody, Allen. (2015, December 25). Golf Betting - How to Bet on Golf. Retrieved from Moody, Allen. "Golf Betting - How to Bet on Golf." ThoughtCo. (accessed November 22, 2017).