The favorite for the prestigious tournament is of course Tiger Woods. Woods already owns four green jackets and will likely be favored in this tournament for the rest of his golfing career. Woods last won at Augusta in 2005, and after finishing tied for third last year he is a 5/4 favorite at Gamblers Palace to reclaim the coveted green jacket this year. 2008 Masters Odds

US Masters Golf Betting Online

The key to golf betting is differentiating the two main wagering options, so we’re here to serve as your gambling caddy and give you helpful tips on how to understand PGA golf odds. With golf, you can either bet on an individual to win a tournament or take part in “Matchup Betting” which involves wagering on artificially created golf matchups set by odds makers specifically for betting purposes.

“Matchup Betting” offers an alternative to simply betting on a golf tournament’s winner.
Artificial head-to-head matchups are created by oddsmakers and involve golfers who are all competing against each other to win the tourney, with the bet specifically focused upon how one golfer finishes compared to another golfer in the match up. Group matchups are another “matchup betting” option particularly popular in golf and auto racing events like NASCAR, where you can select how one golfer will finish compared to other golfers in the group. Both head-to-head and group matchup golf odds are based on the money line.

Some sportsbooks will also allow you to bet futures on the four major PGA tournaments, which is yet another way you can “Bet to Win” that can offer you appealing odds because you are betting far in advance of when the event takes place. For example, betting on the 2006 Masters golf tournament now might get you much better value on Tiger Woods, who may be 10/1 at this moment but dip to 6/1 closer to the event if he is on a roll.

“Betting to Win” an outcome event like The Masters is the most common way to wager on golf. Since golf has multiple tournaments over the course of a year, “Betting to Win” obviously offers numerous wagering opportunities. Keep in mind that not all the competitors in a PGA golf tournament may be individually listed to win, so another golf betting option is the “field” bet which includes all other competitors not listed.

The PGA golf odds on a “field” bet depend on how many golfers are listed and how likely it is for the top golfers to win. In other words, if the same five or six golfers seem to battle it out for the top spots atop the leader board from tournament to tournament, the odds on the “field” will be much higher since there is less likelihood that one of the longshots in the “field” will win. However, major upsets seem to occur much more often in golf than other sports, so a “field” bet is typically comparable to a bet on the favorite odds-wise in order to protect sportsbooks from taking a big hit. In exchange for a lesser payout, field bettors do gain the advantage of having more than one entrant that can win for them.

Here’s an example:

Favorites or top golfers = 5/1 to 10/1
36 or so other well-known golfers listed individually = 10/1 to 200/1
Field (collection of 36 or more not listed) = 10/1

The Masters Golf Green jacket

In addition to a cash award, the winner of the tournament is presented with a distinctive green jacket, awarded since 1949, and highly coveted among professional golfers. The green coat is actually the official coat worn by members of Augusta National while on the club grounds; each Masters winner becomes an honorary member of the club. Winners keep their jacket for the first year after their first victory, then return it to the club to wear during tournament week each following year. The tradition that began in 1949, when Sam Snead was the winner. The Green Jacket is only allowed to be removed from Augusta National by the reigning champion, after which it must remain at the club. The only exception to this rule is Gary Player, who failed to return his jacket after his 1961 victory, despite the club's insistence that he do so.

Apart from betting odds on the green jacket wearer, Gamblers Palace most popular futures betting odds are those pertaining to the 36-hole cut. For example, it is possible to bet on Tiger Woods not qualifying for the final two rounds, unlikely as that is to eventuate.