Golf betting involves many terms that are used commonly.
European Order of Merit
This market determines which golfers earn the most European Tour prize money at season’s end. Be prepared to have your winnings tied in for at least a year in this market, so proceed with caution and only place bets when you have sufficient financial liquidity.
Group Betting
Place bets on which group of five players will do best in a tournament. This can be an attractive option if you think an outsider could succeed but still fail to win or even make the cut for the event.
Making The Cut
Some bookmakers allow punters to select which players are selected. Odds tend to be limited for the best players, making this market more of a layer market.
Place or Top 5 Finish
Some bookmakers only provide place betting. While it doesn’t provide as good odds as placing bets on all ways, you won’t lose any winnings from an option that may not win since you only betted on the place. Be sure to compare prices between bookmakers and exchanges before placing any bets; prices can differ significantly between each.
3 Ball Betting
Betting on who will win each match allows for some profitable predictions, especially when one can correctly predict either slow or quick players for each match. This strategy can be especially profitable when two opposing teams have similar playing speeds.
US PGA Money List
This market will determine who tops the US PGA Money List at the end of the golfing season. As with other markets like the European Tour Order of Merit, bets may lock up your funds for at least a year in this one so choose carefully and only make wagers when your finances are liquid.
Golf Spread Betting Markets
Spread betting markets for golf are limited, but there are still some great chances to market players on tournament markets.
Tournament Index
Spread betting is similar to outright bets, however it uses points instead. Points are awarded to the eight first positions with more points awarded to those who finish higher. Every participant receives their expected number of points. The advantage over traditional outright betting on spots is that more spots are recognized and if your selection surpasses expectations you’ll be rewarded with more money – though remember, losing money does not make up for lost opportunities! Conversely, if they perform poorly then you lose more.
How to Bet on Golf: Popular Markets
How can I place bets on golf?
Tournament Winner
The most basic golf bet is who will lift the trophy and secure their place in victory. While this bet may seem straightforward enough, its odds for certain golfers can be astronomical – think 500/1 odds on Scottie Scheffler or Collin Morikawa! On Sundays on PGA Tour however, golfers with chances of 50% or greater often make it to victory.
Top Finishing Markets
Finishing position bets are another form of bet. These involve placing wagers on golfers to finish in the Top 5, Top 10, or Top 20 positions of an event. While odds may not be as favorable as betting on a winner outright, your chances for cashing in are much greater.
Tony Finau currently has odds of +2000 to win the tournament, meaning his odds for finishing Top 5 would be about one fifth of that cost – or $400. Top 10 tickets cost 1/10th and top 20s cost around one twentieth of their outright odds to win the event.
This is an ideal option if you’re more wary of potential risks.
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Each-Way Betting
Golf is a sport where “each-way” betting refers to placing bets that are divided. A majority of your stake goes on a golfer’s chance for victory and the remainder on Top 5 tickets, if desired. With this setup, it is possible for you to gain exposure on an elite player without necessarily needing them to win the event; say Jordan Speith is 20/1 to win with $100 odds; thus placing $100 per way wager on him would mean placing $100 upon his chances at 20/1 odds; or $50 upon him finishing 5th at 4/1 odds.
In the event that Speith wins this tournament, your bet will be worth $1,200. Your stake of $50 per 20/1 equals $1,000 and placing him in the Top five earns you another $200; thus, a bet of 100 cents on Speith would have paid out an even $1,200 ($100 20/1 x $100 = $2,000), though placing an every-way bet could still net you $150 regardless of where he finishes (i.e., $150 after subtracting your outright bet from Top 5 winners ($50 + 4-1/200 = $200), plus $100 winner of tournament).
Live Betting Golf
With so many betting options available through mobile apps, live betting has become one of the most popular segments in sports betting. Live betting gives you the ability to place bets on an event while it is happening and it is especially common in golf tournaments where odds may shift during play as players move through their matches. You could get better odds early on by placing bets on pre-tournament favourites or you may discover a player who still performs well after all these years!
