Masters Betting Guide: How to Bet on The Masters Tournament

The Masters signals the unofficial start of spring and, for many bettors, the start of wagering on golf in 2026.

Golf will capture the attention of millions April 9 through 12, as the best golfers in the world will grace the course at Augusta National. It will also create the most betting activity of any golf event through the course of the year.

Here’s a guide on how to bet on The Masters Tournament.

What is The Masters Tournament?

The Masters is the first of four major golf tournaments held each year, joining the PGA Championship, US Open, and The Open Championship (British Open).

It’s the only one of the four majors to not rotate sites, as it’s always held at Augusta National Golf Club in August, Georgia.

The winner is awarded a Green Jacket, perhaps the most prestigious prize in golf.

It’s smaller, invitation-only field, plus the consistency of the location make betting on The Masters unique. With a smaller group of golfers, a higher percentage of players make the 36-hole cut.

There’s also a familiarity with the course for golfers, and a long track record of success or failure for many, which benefits a bettor when researching Masters bets.

Masters Betting Odds Explained

Betting odds for The Masters may be the most extensive you’ll find for a tournament at the best golf betting apps.

But how do you know what you’re looking at?

When betting on golf, you’ll find a mixture of single-choice odds and either/or lines. On a winner’s bet, you’ll simply be presented the odds on Scottie Scheffler or Rory McIlroy to win. But on head-to-head bets, “Player to Make Over/Under X Birdies” and others, you’ll be given a line with odds on either side.

Despite the fact The Masters has a smaller field, odds for even the favorites will pay out more than double your money, as the implied probability a golfer will defeat 89 others is rarely greater than 50%.

Scheffler’s odds sometimes make it feel that way, and Tiger Woods used to have some insane odds back in the day, but betting the favorite still holds value in most golf tournaments.

This really changes the calculus when looking for an underdog bet to make on The Masters. A +700 moneyline underdog in a single football game is an incredibly longshot. The golfer listed at +700 to win The Masters could have the second or third best odds. So looking way down the list doesn’t really feel necessary, unless you have some amazing intel or Biff Tannen’s sports almanac.

Types of Masters Bets

Here are the types of Masters bets you’ll be able to find at your favorite online sportsbook:

• Outright Winner: The simplest bet on the board, as you pick who you think will win The Masters. Rory McIlroy is the defending Masters champion, and his odds are as high as +700 to repeat.
• Each-Way Betting: This is more complicated, as you’re splitting your stake between the golfer winning or placing within a certain threshold. If the golfer wins, you get the bigger payout. The odds you get on him finishing in the top five, however, are much less.
• Top X Bets: Your golfer doesn’t have to win for you to win money, as you can bet on a player to finish in the top five, 10 or 20. These bets are a good option to find a longer shot that you feel is in line for a good weekend, as they don’t have to take down the entire field in order for your bet to cash.
• Head to Head Matchups: Golf head to heads are graded much like moneylines in team or combat sports. Basically, you’re betting on whether Bryson DeChambeau will beat Rickie Fowler either in a round or for the entire tournament.
• Make/Miss the Cut: This is a good way to bet on some of the longer shots in the tournament, or maybe build a parlay, especially during The Masters where the top 50, including ties, make the cut out of 90ish. Compare that to the top 60 and ties at the US Open, which has a field of more than 150. These bets will have odds on yes or no options.
• First Round Leader: Place a wager on which golfer you think will be ahead after Thursday’s first round. At The Masters, this can be a good time to find a player familiar with Augusta National’s quirks and the pressure of playing in the tournament.
• Prop Bets: Masters props will be abundant, as you can bet on outcomes that happen during the tournament that fall outside the final result. You’ll be able to bet on the number of birdies made in a round by a player or the field. Amen Corner props will also be available, providing markets surrounding the famous set of holes on the Back 9 at Augusta. I don’t want to say Masters props will be endless, because they do end. But there will be a lot of them.
• Live Betting: Live betting on golf is interesting, because you have four days to live bet. Odds on the winner will fluctuate Thursday to Sunday, and quick bets such as “next hole score” will pop up as you’re watching.

How Augusta National Impacts Betting

Augusta National is incredibly unique, and not just because it’s the only course that’s the exclusive home of a major.

It’s steeped in tradition and many of its rules provide a completely different atmosphere for spectators and the golfers.

But what about the actual course? Well, it’s tough.

Augusta was Tiger proofed years ago, after a young Woods dominated it with his length off the tee. Now golfers need to be incredibly strategic, particularly their approach shots onto the fast, sloped greens that define the course.

It’s described as deceptively steep, which makes for a difficult four-round walk, as well. Add in the pressure of the moments there, and it’s no wonder that the best golf bettors will look first Masters experience and track record when wagering on the tournament.

Key Stats to Use for Masters Betting

I’ve gathered a full list of Masters betting trends that you can look through, but here’s a brief overview:

• Very few golfers have won multiple Masters titles. Scottie Scheffler (2024), Tiger Woods (2001, 2002, 2005 and 2019), Bubba Watson (2012) and Phil Mickelson (2006 and 2010) are the only winners since 1999 who were not putting on the Green Jacket for the first time. That means 18 of the last 26 winners were first-timers, and half of the repeat championships were won by Woods.
• Winning back to back is hard at Augusta. The field is so competitive, that only Woods, Jack Nicklaus and Nick Faldo have repeat as champions. Can McIlroy join them this year?
• Eight of the past 11 Masters winners finished outside the top 10 in the tournament the year before.

Masters Betting Strategy

This may sound silly after that last section, but the truth is experience playing The Masters is important, even if stringing back-to-back great years there is kind of rare.

So, the first strategy for betting on The Masters is to look at past performance, and specifically look at golfers who are showing improvement, whether over the years or during the course of the tournament.

Here are some other Masters betting strategies to consider:

• Masters bankroll management: Enter with a plan when betting on The Masters, whether that be setting aside a certain amount for betting on the winner and Top X finishers, while having some left over for live bets during the weekend.
• Don’t be afraid to hedge: The beauty of betting on golf is that you get four days to manage your wagers and take advantage of potential opportunities to ensure you get a return.
• Study current golfer form: It shouldn’t come as a surprise, but players who have been playing well often continue to do so at The Masters. Augusta isn’t exactly a course suited for getting your game back on track.
• Find players with strong short games: You cannot overpower Augusta, so look for strokes gained statistics in a player’s approach and scrambling. That’s where the Green Jacket will be won or lost.

Best Sportsbooks for Masters Betting

All of the best US sports betting apps will be offering markets on what I’ve covered here, but here’s a quick rundown of which Masters betting apps are best.

Masters Betting FAQ

Final Tips for Betting The Masters

Now, you’re ready to start betting on The Masters and collect your own green as your winner puts on his Green Jacket.

Here are a few final Masters betting tips:

• Back Augusta experience
• Do not expect a repeat of last year
• Approach and short game will be deciding factors
• Enjoy!