Many people love to bet on golf because it is fun and if Lady Luck is smiling on you, you could end up winning quite a bit of money. Whether you are a seasoned sports bettor looking to gain an advantage on the sportsbook or a newbie who wants to learn more about betting on this popular sport, you have come to the right place. Below you will find everything that you need to know about betting on golf.
What Main Tournaments Can You Bet on?
The first thing that you really need to know when thinking about golf betting is the different tournaments that are available for you to bet on. By knowing when the tournaments are held, you will ensure that you do not miss out on some opportunities to bet on golf. You will be happy to hear that there are plenty of golf tournaments that take place throughout the year, so you will not have to wait long for your next golf betting fix, that is for sure. In the table below you can find the most popular tournaments and the month that they take place (we are not able to provide the dates as these vary each year, depending on when it can be fit in).
The US Open June
The Masters April
The Open July
Ryder Cup September
USPGA Championship August
BMW PGA Championship May
The Players Championship May
DP World Tour Championship November
Tour Championship August or September
World Golf Championship Throughout the year as this is a series of four tournaments.
N.B. The Ryder Cup is played every second September.
As we said, the dates of these tournaments vary each year, but we can give you the dates for the tournaments that are scheduled to take place in 2020. You can find all of this information in the table below.
Tournament Date of Competition
The US Open Thursday 18th June to Sunday 21st June
The Masters Thursday 9th April to Sunday 12 April
The Open Thursday 16th July to Sunday 19th July
Ryder Cup Friday 25th September to Monday 28th September
USPGA Championship Thursday May 14th to Sunday 17th May
BMW PGA Championship Thursday 10th September to Sunday 13th September
The Players Championship Tuesday 10th March to Sunday 15th March
DP World Tour Championship Thursday November 19th to Sunday 22nd November
Tour Championship Thursday August 27th to Sunday 30th August
World Golf Championship Throughout the year as this is a series of four tournaments.
A Closer Look at Golf Betting Odds
The average golf event has over 140 players, which is why golf punters can find massive odds on offer. Like with any sport, there will be the favourites, those who the bookmaker thinks stand a chance, and those who are rank outsiders. Tiger Woods used to always be the favourite, but since he has retired, it is rare for any player to have odds of less than 4.00 to win the tournament. Therefore, nowadays, even favourites offer a degree of value. The majority of the players will have odds of over 101.00 due to the strength of the field.
You should be aware that a golfer can go from being a rank outsider to one of the favourites pretty quickly. Just one solid finish in a tournament can see a player go from 201.00 to 36.00 for the next tournament. Things can also go the other way, which is something that can work in your favour. If a golfer has odds of 26.00 one tournament but performs badly, the next time they are playing their odds will be much higher. They have not become a bad player overnight, so betting on them at higher odds could see you win a tidy sum.
Some people like to set aside a certain amount to bet at each golfing event, which we think is a good idea. Once you have settled on an amount that you can afford to lose and an amount that you would like to win, you would be wise not to stray from it. Yes, we know how tempting it can be to keep betting when on a winning streak, but you need to protect the profits that you make. Due to the large odds that are usually on offer, one good period of betting could make up for a few months of no wins. Furthermore, remember that you should never chase your losses as this is the worst thing that a gambler can do.
The key to being successful when betting on golf is to find the odds that offer value. If you bet without taking value into consideration, then you will end up losing more money than you win. This is exactly the type of gambler that sportsbooks love. So, how do we determine whether odds have value? Well, we use a simple calculation that can be seen below:
Value = (Decimal Odds * Assessed Probability) - 1
So, now that we know the equation, let us clarify it with a simple example. Let us say that we are betting on a golfer to win The Open at odds of 9.00. We have done a bit of research and decided that there is a 15% chance that this player will win. So, is there value on offer?
Value = (9.00 * 0.15) - 1
Value = 1.35 - 1
Value = 0.35
Whenever you have a value that is higher than 0, you have a value bet. We said that the player had a 15% chance of winning, but the equation states that he actually has a 35% chance of winning. In this example we believe that the player has a 15% chance of winning, while the bookmaker by giving odds of 9.00 believes that they have an 11.11% chance of winning. Therefore, we have what is known as a value bet.
The Different Markets You Can Bet on in Golf
There are many different markets that you can bet on in golf, which is why it has become a popular sport to bet on. Below we are going to take a look at some of the most popular.
The Winner of the Tournament
Trying to predict who will win the tournament is definitely the most popular betting market in golf. Sometimes backing the favourite is just the wisest move to make in sport. If the player you back wins the tournament, you win some money. If they do not win, then you lose your money. It is as simple as that.
Each Way Bets
However, when there are more than 140 competitors in a tournament, there is sense in backing a player that is not one of the favourites and opting for the each way market. This means that you are placing a bet on the player to win the whole tournament and an equal bet on them to finish in the top five or top 6, this depends on the bookmaker that you use.
Who Will Lead After the First Round?
Do you think a player will get off to a quick start at they are teeing off early? By teeing off first, a player gets to use fresh greens and has no leaderboard pressure. This is a great market as it gives you a chance to win money with those players that are known for getting off to a flier but then crumble when the pressure intensifies.
Top 10 or 20 Finish
There are always players that finish in the top 10 or 20 but never really threaten the top of the table. As they never come close to winning, many sportsbooks will ignore these golfers, which can lead to decent odds in these side markets.
If you cannot find any value with the markets that we mentioned above, then you should consider this one. This market can be fun and interesting when only three or four different nationalities are playing in the tournament as it means that your chosen nationality only has to beat a few other nationalities in order for you to win.
Hole in One
As the standards get higher and golf equipment improves, hole in ones are becoming more and more common. Despite this, the odds remain very decent for this market. Therefore, if you are after a bit of fun, we recommend that you try this one out every now and then.
These are a great way to have fun and win some decent cash sums. These are bets that will not have an effect on the outcome of the competition. Below are some examples of miscellaneous bets:
- How many tournaments will a player win in the calendar year?
- Will the tournament winner be older or younger than 35?
- Will there be under or over 9 birdies on hole 8?
- Will there be a hole in one in the fourth round?
- Will a playoff need to take place?
The key to not losing money when betting on sports is to create an approach and strategy that will help you to always find value. Below are four tips that you should take on board and put to use when you decide that you would like to place a bet on some golf.
- Analyse the stats
- Do not bet on inexperienced players
- Analyse the recent form or each player
- Analyse the course form?
To Sum Up
If you take everything that we have mentioned above on board, then we see no reason why you cannot have a lucrative golf betting career. Before we conclude this article, we would like to remind you that betting is meant to be fun, so when you find the fun disappearing from your betting, take a break.