Once the winter has come and gone, golf returns, and with it, comes golf betting and naturally, golf betting odds. Events are scattered through the spring, summer, and fall months and the players hit the green hoping to win a championship.
The next big event coming up is the US PGA Championship 2020, which is due to take place in June though the exact date is yet to be confirmed. The odds were last updated on July 13, 2020:
|2020 PGA Championship Tournament Winners Odds|
Many events host upwards of 140 players, so when it comes to golf betting odds, there can be a huge variety of options and some great value attached to it. There are always obvious favorites that top the odds board, the mid-range players who are experienced but might not have the chops to make it to the finals, and then the bottom of the board hosts the longshots and underdogs.
Golf betting odds aren’t set in stone though, they do fluctuate day-by-day and week-by-week depending on performances. One stellar finish by an underdog can tip the odds in his favor. Same with a poor performance by a favorite - he could be seeing a huge drop on the odds board.
These shifts shouldn’t be alarming or scary to golf bettors, but they should be noted. Keeping an eye on the golf betting odds board can help you make better decisions around your golf bets in the long haul.
Understanding Golf Betting Odds
Golf betting odds are fairly straightforward and simple to understand. If you understand futures bets of any sport, you’re essentially selecting which golfer will win or place depending on the type of bet you choose to make.
The odds represent the likelihood of that golfer winning or placing. The negative number in golf betting odds will represent a favored golfer, and a positive number will represent an underdog. The higher the number on either side, represents more vig placed on each golfer.
The odds can be displayed in other ways, like decimal odds or fractional odds, but in the United States, American odds are the most popular odds format. If you want to calculate the probability of winning for a specific golfer, you can look at the below formula for guidance.
You will need to convert the odds to decimal. So a golfer listed at +500 their decimal odds are 6.00. The next step is to divide 1/decimal odds which is 1/ 6.00. This gives an implied probability of 16.67%. Implied probability is an important part of your golf betting strategy and will help you improve your chances of winning in the long term.
How to Bet on Golf
So you want to place a bet on golf, and want to understand how the bet works and how much you could potentially win?
This is a fairly simple formula to keep in mind. Your winnings are essentially your stake, multiplied by the odds, then you subtract your stake from that total. Again, you will need to convert to decimal odds. So if you want to bet $100 on the golfer above at +500 (6.00) the formula will look like this:
(100*6.00) - 100 = $500
Since $100 is a pretty easy denomination to calculate with + odds, we will do the calculation with a $20 wager on a +250 golfer (20*3.50) - 20 = $50
Betting on Golf Futures
Most golf betting is on the result of the tournament, aside from the few betting types that offer odds on particular rounds of the tournament. Golf is extremely popular to bet on, but really only in situations when there isn’t a clear, predicted winner.
During the Tiger Woods age, he was always so heavily favored to win, there wasn’t really any value in betting on tournaments he entered. Golf betting is futures betting, and if a golfer has a negative number, they are a fairly big favorite to the oddsmakers. Betting on the underdog would bring a huge profit, but the likelihood is slim and sometimes just not worth betting on in the end.
We don’t recommend betting for the sake of betting - that’s not a good strategy to have to enter a golf tournament of all things. If you have the means to place a wager, have done your research into the golfers and the course, and think you have a good idea of the tournament outcome - by all means bet on golf.
In these circumstances, if your preferred sportsbook offers futures bets like Each-Way, First Round or Top Nationality bets, you might find more value there. We aren’t saying the favorite always wins, but as we’ve mentioned before - keep an eye on the odds! Each golf tournament will have its own tournament futures odds, and some are more exciting than others to bet on.
Golf Tournament Odds
We’ve created an informative guide for golf betting, including tournament guides for the four majors, and other well known professional golf tournaments.
Top Online Sportsbooks for Golf Odds
As we mentioned, the odds are different for each sportsbook you choose to play at. We recommend line shopping as much as you can, to ensure you’re getting the most value for your bets.
We recommend a handful of online sportsbooks that are available to US citizens, who offer excellent value in golf betting odds.
Be sure to do your research, and pick a sportsbook that would be a good fit for you and your golf betting needs. Payment options, golf bonuses, loyalty programs, and mobile compatibility are all key features to look for when hunting for a new sportsbook.
We recommend the following sportsbooks for betting on golf:
And if you’re totally new to betting on golf, check out our detailed golf betting page for more guidance and strategies for golf betting season!