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If you are interested in betting on Golf, here is a brief guide:
The first thing you should do is familiarise yourself with how odds work in golf.
For example, if Tiger Woods is +800 (also written as 8-1) to win a tournament, that means that if you bet on Tiger to win and he does, you win eight times your investment.
Normally, the favourite for a golf tournament is between +600 and +1300, while the biggest could be as long as +50000 (500-1).
In matched betting, where you pick a player to post the best score in a round or over the course of a tournament, you’ll see odds much more in line with other sports.
For example, if you’re betting $10 on Dustin Johnson to beat Justin Thomas in a tournament and Johnson’s odds are -110, he would have to bet $11 to win $10. That -110 is known as the “juice,” which is the tax that sportsbooks create to place a bet.
Types of bets:
1. Outright winners Outrights are simply betting on one guy to win the tournament.
These provide the best long shot options in any sport. Even the favourite to win an event will generally pay at least 5-1. It is also a sport where 100-1 or better odds hit quite often.
There are usually a lot of guys in this range, so it can be quite difficult to find the one who can actually win, but they offer a way to hit a big payout with very little investment.
2. Place bets:
These give bettors the option of deciding whether players will finish in the top 5, 10 or 20. These offer less of a payout than the absolutes, obviously, but they can keep the bankroll afloat.
Winning a golf tournament usually requires a bit of luck, but this allows bettors to get a payout when a golfer works his way into contention.
Most of my best bets each week will come from the top 20 on players who are in good form and have good history in this field.
You will usually still get at least money on most of these plays.
Bettors can also pick one golfer directly against another.
You’ll never see a Dustin Johnson vs Jim Furyk pairing posted. These are great places to target golfers who are in bad shape and fade them when they face golfers who have been playing better.
Certain courses will also favour a specific type of player, whether it be one who hits a mile off the tee, has a strong approach game or relies heavily on his short game.
This is the opportunity to identify which type of player fits the course and bet on those players against others who are not as strong in those areas. These types of bets can be for the entire tournament or just a specific round.
Finally, we will look at prop bets. Typically we see golfers grouped into
a variety of categories. The books will break them down mainly into country of origin, so you can bet on the best American, English, Spanish, etc.
We will also see other types during bigger tournaments such as the Masters. Top senior, amateur or left-handed.
These offer value on occasions where large portions of the field can be eliminated because, by a certain type or form, it can be narrowed down to just a couple of players who we think can come out ahead of the rest.
As mentioned, it is difficult to win a tournament, but we can usually figure out what type of player should succeed on a given course and this is another place to take advantage of that knowledge.