How to Bet on The Masters

How to Bet on the Masters

The world’s finest golfers converge upon Augusta in the first week of April each year to vie for glory in the Masters. The battle for the famous green jacket is always intense, leading to a great deal of drama and excitement set against a beautiful backdrop.

You can heighten the excitement by betting on this popular event. If you are wondering how to bet on the Masters, you are in the right place as LearnTheLines educates you on how to bet on sports. This guide breaks down the key bet types available on the tournament, highlights elite golf betting sites and displays some of the best bonuses you can redeem. Read on to learn how to bet on the Masters.

Masters Odds Explained

The image above shows the futures odds on the outright winner of the Masters 2023 at PointsBet, one of the country’s best online sportsbooks. As is generally the case at US sportsbooks, it uses the American odds format.

The odds will either begin with a plus or a minus. When they begin with a plus, the Masters betting odds highlight the profit you would earn from a successful $100 bet. For example, a $100 bet on McIlroy would result in a $700 profit, whereas a $100 bet on Morikawa would net you $1,600. You can choose any bet amount you like. For instance, a $10 bet on McIlroy would earn you a $70 profit and a $20 bet would net you $140.

The odds may begin with a minus, particularly on 2 ball bets. In that case, they tell you the amount you need to wager to earn a $100 profit. For example, if Jon Rahm is priced at -110 to shoot a lower score than Justin Thomas in a 2-ball matchup, a $110 bet on him would net you a $100 profit. Our sports betting explained guide provides more information about reading odds and will give you general pointers on how to place a sports bet.

Masters Bet Types

You can choose from a long list of Masters betting options at the best online sportsbooks in the United States. These are the most popular bet types to consider:

Masters Futures Bet 

A futures bet is a long-term wager placed on the Masters well before it begins. The best online sportsbooks release Masters odds several months in advance of the tournament. The odds typically change as April draws closer, based on how well each player is performing that season.

Masters Winner Bet

This is a straightforward bet on which golfer will win the Masters. The oddsmakers assess the strengths and weaknesses of each player and release odds on their chances of clinching the green jacket.

The market starts with a favorite – often the world No. 1, a golfer in superb form or the defending champion – and the odds then grow longer as you work your way down the list, eventually reaching the rank outsiders.

You can also bet on a player to finish in the top five, the top 10 or the top 20. You will receive a smaller potential payout, but your chances of success will increase.

Masters Player Match Bet

This is an exciting option that groups two players together and allows you to bet on which one will finish the round with the lower score. None of the other players in the field when you place this type of Masters bet – it is simply a head-to-head between two specific golfers.

As such, this market is often referred to as a 2 ball bet. Anyone interested in parlay betting can consider combining two or more players to win their 2 ball matchups at the Masters. Each player you select needs to win his matchup for the parlay to succeed, but you can generate large cumulative odds from this type of bet.

Masters 3 Ball Bet 

This is another common option for anyone that wants to learn how to bet on the Masters. It is similar to a 2-ball matchup, but it groups three players together instead. You just need to predict which golfer will shoot the lowest score.

Here is an example of a 3 ball matchup from a recent tournament:

In this case, Patrick Cantlay was the -110 favorite, followed by Collin Morikawa at +140, and Lee Hodges was the +550 outsider.

Masters Handicap Bet 

This is similar to a 2 ball matchup bet, but the sportsbook will give the stronger player a handicap. You then simply need to decide who will end up with the lower score after taking the handicap into account.

This is a hypothetical example of a handicap Masters betting line:

  • Scottie Scheffler -1.5 vs. Matt Kuchar (-110)
  • Matt Kuchar +1.5 vs. Scottie Scheffler (-110)

In this example, Scheffler would need to finish 2 or more shots clear of Kuchar for a bet on him to pay off. By contrast, a bet on Kuchar would succeed if he finished the round with a lower score than Scheffler, an identical score or just one extra shot.

Masters Live Bet 

Live betting is very popular on the Masters. It is similar to the options discussed earlier in this “How to Bet on the Masters” guide, but you simply place bets after the tournament has started. The sportsbooks update their odds on markets such as the Masters winner, a top five finish, a top 10 finish, to make the cut or to miss the cut as the tournament develops.

The odds reflect the current state of play. This allows you to watch the action at Augusta unfold and make educated betting decisions. You will also find that the odds on 2 ball matchups and 3 ball matchups are updated throughout each round, allowing you to speculate on those markets after watching the opening holes.

Masters Betting Sites: Where to Bet on The Masters Golf 

You can enjoy Masters betting at licensed online sportsbooks in Arizona, Colorado, Connecticut, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Michigan, Nevada, New Hampshire, New Jersey, New York, Ohio, Oregon, Rhode Island, Tennessee, Virginia, West Virginia and Wyoming.

The leading sportsbooks offer competitive Masters betting odds, large bonuses, quick payouts and live stats and updates throughout the tournament. You can sign up with a few different Masters betting sites in your state, which will earn you several exciting welcome offers.

BetMGM, PointsBet, Caesars Sportsbook, FanDuel, DraftKings and BetRivers are some of the best Masters betting sites in the country. They are also the most widely available sportsbooks in the United States. If you ever need help with how to bet on the Masters, they offer quick, reliable customer service via live chat. Be sure to check out our US sportsbook list for legal sports betting sites.

Masters Betting Apps

The top online sportsbooks also provide their customers with native mobile apps. You can download a Masters betting app through the App Store or Google Play.

It allows you to bet on the action at Augusta in a very quick and efficient manner. Mobile apps are especially helpful for live Masters betting, as they allow you to react quickly and put on your bets before the odds shift.

Masters Betting Promos & Bet Credits

Most sportsbooks will provide you with a compelling sign-up bonus. They normally offer a full rebate if your first bet loses. The rebate is paid in bonus bets, which have a 1x rollover requirement. That means you need to use them once, and you are then permitted to cash out any winnings.

Other Masters betting sites provide “bet and get” or “bet and win” sign-up bonuses, or you may find a deposit match bonus. You will then receive additional promos, which are targeted at existing customers. They include odds boosts, profit boost tokens and insurance offers.

Masters Betting Picks

You will be offered a wealth of expert Masters betting picks as the tournament approaches. It is the most popular golf tournament of the year, so it generates a great deal of attention from handicappers.

It is helpful to check a handicapper’s credentials before taking the advice provided. We also recommend conducting independent research to ensure you agree with the Masters betting picks before placing your bets.

Everything You Need to Know About The Masters 

Masters History

Horton Smith won the princely sum of $1,500 when he surged to victory in the initial Masters event at Augusta back in 1934. It was initially named the Augusta National Invitation Tournament, but it adopted its current name in 1939, when Ralph Guldahl finished one stroke clear of Sam Snead to clinch the title.

It was canceled due to World War 2 between 1943 and 1945, and prize money for winning it increased to $2,500 when it resumed in 1946. It had climbed up to $20,000 by the time the first non-American – South Africa’s Gary Player – won in 1961. By 1980, Player was still the only golfer from outside of the United States to win the green jacket, but Spain’s Seve Ballasteros triumphed that year.

Americans continued to dominate in the modern era, but overseas stars including Hideki Matsuyama, Sergio Garcia, Danny Willett and Adam Scott have won it in recent years. Scottie Scheffler finished three strokes ahead of Rory McIlroy in 2022.

Where is the Masters held?

The Masters is the only major to be held at the same venue each year. The action takes place at Augusta National in Georgia, one of the world’s most beautiful courses.

Bobby Jones and Clifford Roberts founded the course in 1932 on a 365-acre site, and it has been revamped on several occasions. It is renowned for its pristine lawns and impeccable appearance, replete with imported pine needles and bird sounds played on inconspicuous speakers.

It is a 7,510-yard, par-72 course featuring bentgrass green and ryegrass fairways, flanked by azaleas and dogwoods. Nick Price and Greg Norman share the course record (63).

What is the Masters prize money? 

The Masters paid out a record $15 million purse in 2022, with Scottie Scheffler taking home $2.7 million. Rory McIlroy, the runner-up, earned $1.62 million. Prize money has been steadily increasing in recent years, so it could be higher when the organizers announce the purse for 2023.

Who has won the most Masters?

Jack Nicklaus holds the record for the most Masters victories. He won it for the first time in 1963, when he finished one stroke clear of Tony Lema. The Golden Bear was also victorious in 1965, 1966, 1972, 1975 and 1986, taking his tally to six. His battles with Arnold Palmer and Gary Player – who won it four times and three times respectively – were legendary in the 1960s and 1970s.

Tiger Woods has come the closest to toppling Nicklaus’ record. His first triumph came in 1997, when he finished a record 12 strokes clear of Tom Kite. He won back-to-back Masters in 2001 and 2002, before clinching a fourth in 2005. Fourteen years later, Woods rolled back the clock to beat Dustin Johnson, Brooks Koepka and Xander Schauffele to the title in 2019, leaving him with five victories.

Masters 2023 Date 

The 2023 Masters will begin on Thursday, April 6, 2023. The action will conclude on Sunday, April 9.

How to watch The Masters

ESPN has the broadcast rights for the first two rounds of the Masters. You can tune in and watch it unfold from 3 p.m. ET to 7.30 p.m. ET on both days. CBS then shows Round 3 from 3 p.m. ET to 7 p.m. ET and the final round from 2 p.m. to 7 p.m. on Sunday, April 9.

Masters Live Stream

All the leading streaming aggregators will show the Masters. You can watch it on fuboTV, YouTube TV, DirecTV and Hulu. A combination of ESPN+ and Paramount+ will also allow you to stream the entire tournament from any device connected to the internet, wherever you happen to be.

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