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  • View betting odds for the 2023 Masters and see how they shift throughout the PGA Tour season
  • John Rahm & Rory McIlroy open as joint favorites to win the 2023 Masters
  • See the latest Masters odds for all favorites and notable players of 2023 in the field below

There’s no tradition quite the same as ushering in spring with the first major golf tournament of the year, The Masters at Augusta National.

After each PGA Tour event leading up to the start of  the tournament on April 6th, we update the Masters odds to reflect their current state ahead of the tournament on the second weekend in April.

Check back frequently for the latest odds to win the 2023 Masters on this page.

2023 Masters Favorites & Top Contenders

  • [Jan 25] The separation between early favorites Jon Rahm and Rory McIlroy is negligible, as they respectively opened with average odds of +836 and +843. Close behind are Cam Smith (+1271), 2022 Masters champion Scottie Scheffler (+1286), and Justin Thomas (+1386).

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2023 Masters Odds

Player Odds
John Rahm +800
Rory McIlroy +800
Cameron Smith +1200
Scottie Scheffler +1400
Jordan Spieth +1500
Justin Thomas +1600
Xander Schauffele +1800
Tony Finau +2000
Will Zalatoris +2000
Collin Morikawa +2200
Patrick Cantlay +2200
Dustin Johnson +2500
Cameron Young +2500
Max Homa +2500
Kim Joo-hyung +2500

Odds as of January 25th at Caesars Sportsbook

Masters Pre-Tournament Odds

There’s two types of odds in golf that players can wager in, including pre-tournament odds and live odds during the tournament. Specifically, Pre-Tournament Masters odds can provide great value to bettors on the eventual winner if they place a bet before competition begins.

Take previous champion Hideki Matsuyama’s winning round as an example. His 2021 Masters odds were as long as +4500 before competition began, and shortened to +1900 by Saturday before going in to the final round as a -118 favorite.

By betting on Masters Pre-Tournament odds, you’ll get more bang for your buck as a bettor rather than waiting and seeing who plays well during the opening two rounds of competition.

Live Betting at the Masters

Conversely, if your pre-Masters bets fail to make the cut or aren’t playing well, there’s plenty of success that can be had live betting at the Masters.

While the odds are constantly shifting during play, at the conclusion of each round is a perfect time to look up different stats and betting trends to make smart, in-play Masters bets.

Checking on the live leaderboard for score, data such as strokes gained in driving, approach and putting are also usual harbingers of success at Augusta National. Live betting a player who’s poised to get up the leaderboard on Saturday or Sunday early in the Tournament can lead to a big payoff for bettors.

Masters Betting: Best Sports Betting Promos

While there’s plenty of bets to make in traditional Masters odds, as well as Masters props – many sportsbooks offer special sports betting promos for the Masters.

These can include odds boosts on some of the top players to win the Masters, special props with enhanced odds for expected outcomes like top 10 players to make the cut, as well as other offers come Masters week.

See some of the best Masters promo from the top online sportsbooks below:

Masters Betting Strategy

When betting on the Masters, your strategy shouldn’t stray too far from the norm of how to bet on golf.

Course history and past performance does tend to come in to play more at Augusta National than other majors and tournaments, as institutional knowledge is paramount to success at the Masters.

Knowing that, it can be beneficial to bet on former champions and players that have a history of success in the Masters to either win outright, finish within the top five, ten or 20 or even something as simple as making the cut.

Another one of the Masters betting trends to note is that it is near impossible to win the event in back-to-back years as it’s only been accomplished three times: Jack Nicklaus in 1965-66, Nick Faldo in 1989-90 and Tiger Woods in 2001-02.

OWGR Top Ranked Golfers

While most of the top players in the Official World Golf ranking also dot the top of the 2022 Masters odds, there are some discrepancies.

The OWGR formula is complex, and can lead to certain players being within the top ten or fifteen in the rankings – but outside even the top 20 in Masters odds as well as the odds for other golf majors.

When first checking odds in January, Billy Horschel was hanging onto his 18th-place OWGR ranking following his missed cut at Waialae, but was already just barely inside the Top 50 of odds for the 2023 Masters.

Masters Winners Odds History

One of the great Masters traditions is allowing all past champions to compete, regardless of age and current skill level. Because of that, you’ll see some of these former champions who are in their 50s and 60s listed at odds of 100-1 or longer.

A total of nineteen former Masters champions have been given odds ahead of the 2023 tournament, including five-time winner Tiger Woods (+5443), Patrick Reed (+6971), Bubba Watson (+9000), and Phil Mickelson (+16167). Even former champs from the ’80s and ’90s such as Fred Couples (+108333), Vijay Singh (+150000), and Larry Mize (+290000) are getting odds, albeit long ones, to win another green jacket.

Masters Winner by Year: Past 10

Year Champion Country
2022 Scottie Scheffler United States
2021 Hideki Matsuyama Japan
2020 Dustin Johnson United States
2019 Tiger Woods United States
2018 Patrick Reed United States
2017 Sergio Garcia Spain
2016 Danny Willett England
2015 Jordan Spieth United States
2014 Bubba Watson United States
2013 Adam Scott Australia

As mentioned above, Dustin Johnson has an intriguing price at +1600 after his triumph in 2020. Jordan Spieth also has the second shortest odds at +1000 as he tries to repeat at Augusta National for the first time since his win in 2015.

One wildcard to watch could be Patrick Reed who current has Masters odds of +4000. After a miserable February he had a strong showing at the PLAYERS Championship, finishing T26.


Archived Masters Odds: 2022, 2021, 2020, 2019, 2018

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Sascha was a hockey player in his youth, a lawyer in his capricious mid-20s, and has been with SBD since 2014. He covers everything you can bet on, but specializes in football, basketball, politics, baseball, and hockey.