2023 US Masters Betting Guide & Tips

US Masters betting means backing players at Augusta National, the first men’s major of the golf year, in markets such as outright winner, top 10, make the cut and head-to-head matchups. The next Masters is scheduled for 8 to 11 April 2027, and prices have been available since Rory McIlroy won his second straight green jacket in April 2026.

This guide explains how the main markets work, who sits at the top of the betting, what the cut rule means for your bets and which factors matter most at Augusta. The tournament is run by Augusta National and the Masters Tournament, and the field is an invitation list of around 90 players, far smaller than a normal tour event.

How to Bet on the US Masters?

Pick a bookmaker licensed in your country, choose a market, check the terms and set a stake you can afford to lose. Our golf betting page covers the wider sport, and our best sports betting sites list is a good starting point for comparing operators.

1. Choose your market. Outright winner pays the most but loses most often. Top 10, make the cut and head-to-head bets win more often at shorter prices.
2. Read the terms. Check the each-way fraction and number of places, how ties are settled (dead-heat rules) and what happens if a player withdraws before teeing off.
3. Understand the price. US sites show odds such as +450, UK sites show fractions such as 9/2, and some show decimals such as 5.50. All three are the same price, and the implied chance is about 18%.
4. Set your budget first. Golf is high-variance, and even the market favourite wins only a small share of the time.

An each-way bet is two equal bets in one: one on the player to win and one on them to finish inside a set number of places, paid at a fraction of the win odds. If a player is 40/1 with one-fifth odds for eight places, the place half pays at 8/1. Your total stake is double the unit you choose, so a 10 each-way bet costs 20.

Use the calculator below to check what an each-way bet would return before you place it.

Who are US Masters favourites?

When 2027 markets opened after the 2026 tournament, Scottie Scheffler was the favourite and Rory McIlroy second, with a clear gap back to Jon Rahm, Bryson DeChambeau and a group of other leading names. Prices move with form, injuries and the draw, so always check your bookmaker’s live odds rather than relying on any price printed here.

Not sure how to read a price? The converter below switches between fractional, decimal and American odds and shows the implied probability.

Scottie Scheffler

Scheffler has two green jackets, from 2022 and 2024, and finished runner-up in 2026. He closed with a bogey-free weekend that took him from well off the pace to one shot behind McIlroy.

His appeal is consistency: elite ball-striking is the closest thing Augusta has to a reliable edge. The drawback is price, because that consistency is already built into short odds, which is why many punters pair him with a top-10 or each-way angle instead of backing him to win only.

Rory McIlroy

McIlroy completed the career Grand Slam by winning the 2025 Masters in a playoff against Justin Rose, then won again in 2026 by a single shot after holding a six-shot lead at halfway. He is the fourth player to win back-to-back Masters, after Jack Nicklaus, Nick Faldo and Tiger Woods.

No one has won three in a row, and that is the story the 2027 market will lean on. Treat it as a headline rather than an edge, because a past result does not change the odds of the next one.

Jon Rahm

Rahm won the 2023 Masters and is usually priced as one of the leading challengers. He was heavily backed in 2026 but never got into contention, a reminder that even short-priced players can lose their week with one poor round.

Other names to watch

Bryson DeChambeau, Xander Schauffele, Ludvig Åberg and Cameron Young all sit near the top of early markets. Åberg finished runner-up on his Masters debut in 2024, and Young finished in a share of third in 2026.

The pattern is that recent winners were already among the leading names in the market. Outsiders can win, but over the last five years the green jacket has stayed with players near the top of the odds.

The Masters’ History

Augusta National sits on land that had been a plant nursery. Bobby Jones, the amateur champion, and investment banker Clifford Roberts developed it into a golf club in the early 1930s. The first tournament was played in 1934 and won by Horton Smith.

The event took the name Masters Tournament in 1939. The green jacket was first awarded to the champion in 1949, and the Champions Dinner, hosted by the previous year’s winner on the Tuesday of tournament week, began in 1952.

Popular US Masters Golf Betting Markets

Golf markets suit big fields, and the Masters has plenty to choose from. The main ones are below, ordered roughly from longest odds to shortest.

Outright Winner

The outright is a single bet on one player to win the tournament. If you bet win-only and your player finishes second, the bet loses. Each-way terms add a place part, and bookmakers often offer more places than usual at majors, so compare terms as well as prices.

First Round Leader

You back the player you think will post the lowest Thursday score. It is a high-risk market with long odds, because one good round from a large field is hard to predict. Tee times and weather on Thursday matter more here than in any other market.

Top 5, Top 10 and Top 20 Finish

Here you bet on a player to finish inside a set position after 72 holes. The price is shorter than the outright, but the bet wins far more often. Check how ties are handled, because a tie across the cut-off position can reduce your payout under dead-heat rules.

To Make the Cut

The Masters cut falls after 36 holes (two rounds), not 72. Only the top 50 players and ties play the weekend, and the old rule that let anyone within 10 shots of the lead through was dropped in 2020. That makes the Masters the strictest cut of the four majors, and it is why make-the-cut prices on weaker players can be longer than you might expect.

Head-to-Head Matchups

A matchup bet asks which of two players will finish higher, and it is settled on the final leaderboard. Both players can have a poor week, and you still win if yours finishes ahead. It is a useful way to back a view on one player without needing them to win. Check the rules for ties and for a player who misses the cut or withdraws.

Three-Ball Betting

In the first two rounds the Masters sends players out in groups of three. A three-ball market asks which player in the group will post the lowest score for that round, and all three usually need to finish the round for the bet to stand. Bookmakers’ rules differ on ties, so read them before you bet.

Nationality and Group Markets

Some bookmakers offer bets on the winner’s nationality or on the best-placed American, European, or British and Irish player. These markets cut the field into smaller groups, and your player only has to beat the others in the group, not the whole field.

Prop Bets

Props are specialist bets, such as a hole-in-one or the winning score. They add variety, but bookmaker margins are often higher on these markets. Treat them as entertainment with a small stake.

US Masters 2023 Betting Factors to Consider

Form, course fit, weather and price all matter at Augusta, and none works well alone. A good approach is to shortlist players on form and course record, then decide whether the odds are fair for the chance they have.

Look at the form

Check how a player has performed in their last few starts, and in particular their ball-striking and putting. Strong approach play and short-game numbers tend to travel well to Augusta. A single big result matters less than steady strength across several events.

Also look at the player’s Masters record. Experience matters here, and the last player to win on his first appearance was Fuzzy Zoeller in 1979. That is not a rule, but it explains why course debutants are usually priced long even when they are in form.

Analyse the course

Augusta National is a par-72 course measured at about 7,565 yards in 2026. The greens are fast and heavily sloped, so a long putt from the wrong side can be a two-putt at best. The par-5s are where most birdies and eagles are made, which favours long hitters who can reach them in two.

Recovery play and iron accuracy matter because the course punishes shots that miss in the wrong place, even slightly. Many strong Augusta records come from players who combine distance with a good short game.

Check the weather and the draw

Wind swirls through the trees, especially around Amen Corner, and rain softens the course. Soft conditions help long hitters, while firm, fast greens reward precision. Check the forecast before taking first-round leader or three-ball bets, because tee times can favour one half of the draw.

Consider the odds

The odds are a bookmaker’s view of each player’s chance, plus a margin. Convert a price to its implied probability and ask whether you really think the player is more likely than that. Compare several bookmakers through our bookmaker reviews or our betting tools, because prices on the same player can differ.

Golf is unpredictable, and even a well-researched bet loses most of the time at outright prices. Keep stakes small and avoid chasing losses after a bad round.

Augusta National: The Course

Augusta National is a par-72 course made up of memorable holes. These are the ones that tend to decide the tournament, with yardages that can change slightly from year to year.

Tea Olive (1st) is a long, uphill par 4 of around 445 yards. It opens every round and rewards a tee shot in the fairway.

Amen Corner covers the 11th to 13th holes and is the best-known stretch on the course.

• White Dogwood (11th) is a par 4 of roughly 520 yards, with a pond guarding the left of the green.
• Golden Bell (12th) is a par 3 of about 155 yards. Water sits in front of a narrow green, and the wind makes club choice difficult.
• Azalea (13th) is a par 5 of around 545 yards that bends left, with a creek in front of the green. It offers an eagle chance for those who take it on, but it also punishes a mistake.

Redbud (16th) is a par 3 over water of about 170 yards. The green slopes towards the pond, so the pin position matters on Sunday.

Holly (18th) is a par 4 of around 465 yards, played uphill with bunkers down the left. A tee shot in the fairway is vital for a clean approach to the finishing green.

Understanding these holes helps with in-play bets and with spotting which players suit the layout.

Who wins this year’s Masters?

The next Masters is in April 2027, so it is too early for firm tips. We will publish selections once the field, the weather and the odds are clearer, and until then here is how we shortlist contenders.

• Elite approach play and putting. Players who are strong in both areas over several months are the best candidates for Augusta.
• Par-5 scoring. The four par-5s decide a lot of Masters leaderboards, so players who score well on them have an edge.
• Course record. Repeat top-20 finishes show a player is comfortable at Augusta, which matters more here than at most venues.
• Price against probability. If a player is a favourite at short odds, a top-10 or each-way bet may offer better value than the outright.

The contenders to keep an eye on are the ones already discussed: Scheffler for consistency, McIlroy for the three-in-a-row story, and the next tier of Rahm, DeChambeau, Schauffele, Åberg and Young. Each of them comes with a different price and a different risk, so match the market to your view of the player.

Before you bet on the Masters

Pick your market first, then read the place terms and tie rules, and set your stake before you look at the odds. Compare prices across licensed bookmakers, and use our best betting offers guide to see current sign-up offers, always checking the terms.

You must be of legal gambling age in your country to bet. Set deposit limits, never chase losses, and if gambling stops being fun, use the tools on our responsible gambling page or contact GambleAware.

Sources

• Masters Tournament – official site
• 2026 Masters Tournament – results, cut and course data (Wikipedia)
• Masters cut line tracker 2026 – Yahoo Sports
• 2027 major golf tournaments: dates and venues – Dallas News
• Masters cut rules – National Club Golfer
• GambleAware