How To Bet On The Masters: A Simple Guide To Having A Punt At Augusta National
Augusta National is golf's cathedral, and for four days every April it produces some of the most compelling sport on the planet.
Whether you're a seasoned punter loading or a casual fan having a first flutter on The Masters, this guide breaks down some of the major markets on betting sites and how to get the most from them.
The Panel have been hard at work picking out a handful of golfers ahead of the first major of the year, so take a look at their each-way selections, first-round leader tips or proposition bets (props) which do not depend on the final outcome.
Scottie Scheffler is the hot favourite to be wearing a Green Jacket for the third time at 5/1, but defending champion Rory McIlroy is hot on his heels at 11/1, the same price as American Bryson DeChambeau.
But what do the odds mean? Read below on how to bet on The Masters:
How To Bet On The US Masters: Win/Each-Way
This is your bread and butter. A win bet is simple - your player wins The Masters, you collect. If you placed a £1 bet on Scheffler to win at 5/1, then you would receive £5, plus your £1 stake for a £6 return.
But the smarter play for most punters at Augusta is the each-way bet, and here's why:
In the build-up to the Masters, most leading bookmakers will pay out on a whopping 10 or even 12 places at a fraction of the odds (typically one-fifth).
That means a player finishing in the top 10 or 12 can still return a profit on your stake, even if he's nowhere near the podium.
Say you back a 50/1 shot each-way at 1/5 odds for 12 places and the player finishes ninth. You would collect 10/1 on your place portion - not bad for a player who didn't win.
This is what makes each-way betting at the Masters such a popular strategy. The extended place terms essentially make those big-priced outside bets far less risky.
However, there is one crucial rule to understand before you get too excited: the dead heat rule. Golf is unique in that multiple players regularly finish tied in the same position.
If eight players share ninth place at Augusta, the bookmaker doesn't pay all eight punters in full. Instead, your place return is divided by the number of tied players sharing that spot relative to the number of paid places remaining.
In practice, this can significantly reduce what lands in your pocket. A £10 each-way bet that looked like it would return £100 on the place part can come back as a fraction of that if your man is buried in a large tie.
It's not a reason to avoid each-way betting - far from it - but it's worth going in with eyes open, particularly at a tournament where logjams on the leaderboard are common.
Snap up those extended place offers early too - bookmakers often reduce their terms as the tournament approaches and the markets tighten.
Getting on at 12 places compared to the standard five or six can make a significant difference to your returns, dead heats and all.
Masters Trends: What Makes A Potential Champion?
How To Bet On The Masters: First-Round Leader
Augusta rewards bold, aggressive play early in the week, and the first-round leader market has thrown up some eye-catching prices over the years.
The key here is identifying players who attack the course rather than managing it, aggressive ball-strikers who can go deep on a Thursday before the pressure of the weekend sets in.
Be aware that this market is harder to profit from than it looks. In a field of 90-odd players, the variance is enormous, and a 25/1 shot leading after 18 holes is far from guaranteed even if he's in the form of his life.
Small stakes on two or three players you fancy for a hot round represent better value than lumping on the outright favourite.
Most bookmakers offer each-way prices, so you could still receive a return if your player finishes inside the top five or six at the end of Thursday's round.
The 90th Masters Tournament approaches. #themasters pic.twitter.com/09d8IvbEal
— The Masters (@TheMasters) March 29, 2026
A Guide To Betting On The Masters: Top 5,10,20,30
These finishing-position markets are among the most flexible on the board and suit punters who want a longer run for their money throughout the week.
A top-20 or top-30 bet on a quality player at 6/4 or 2/1 can be far better value than an each-way bet if you're confident they'll perform, but aren't convinced they'll win.
Tier your selections accordingly. Back your strongest fancy for a top five, a mid-range selection for a top 10, and perhaps a big-priced outsider who you think will contend for a top 20 or top 30.
These markets also offer a useful hedge - if your outright pick misses the cut, you lose everything, but a top-30 bet on a steady performer can often keep the betting slip ticking.
Again, the dead-heat rule will usually apply unless specified otherwise by the bookmaker.
Top Rookie/Debutant
Augusta famously chews up first-timers. The slopes, the speed of the greens and the sheer weight of the occasion has undone many a talented player on debut.
That said, young players with genuine Augusta DNA - strong iron play, comfort shaping the ball both ways and a cool head - can occasionally outperform expectations.
The last player to win The Masters on debut was Fuzzy Zoeller in 1979, so the chances are slim that a player will win this major at the first time of asking.
Almost a quarter of the field are debutants this year and there plenty of names in the frame to finish ahead of the rookie pack. Chris Gotterup is the favourite, but Ben Griffin, Harry Hall and Marco Penge are all in with a shout.
The value play here is finding a debutant with legitimate Augusta-style credentials rather than backing a name simply because they're exciting.
This market tends to be lightly traded, which means prices can be generous. Do your homework on how new qualifiers have played on similar parkland/track courses before committing.
How To Bet On The Masters: To Miss Or Make The Cut
It may look like one of the safer-looking markets, but don't be fooled - Augusta cuts harder than you might think.
The cut typically falls around the top 50 and ties after 36 holes, and some of the world's best players have been packing their bags by Friday evening.
Identifying vulnerable big names - perhaps a player with a poor Augusta track record, a dodgy recent form line or someone who struggles on Bermuda greens - can offer solid value in the 'to miss the cut' market at short odds.
Conversely, backing a consistent performer at Evens or just under to make the cut is a lower-risk option for punters who prefer steady returns.
Many of the debutants could be odds against to make it to the weekend, so check out some of the betting apps for the latest prices.
A Guide To US Masters Betting: Nationality Markets
Bookmakers offer finishing markets broken down by nationality, and these are consistently popular with punters wanting a deeper rooting interest without necessarily finding the winner.
The Top European market is particularly competitive, with the likes of Tommy Fleetwood, Shane Lowry and Viktor Hovland all possessing the necessary ball-striking credentials to challenge at Augusta.
Top American is the toughest due to the depth of the home contingent, but often throws up solid each-way opportunities further down the market.
Top Englishman specifically can be a compelling angle.
Whatever nationality market you're playing, check the field carefully. If two or three elite players of that nationality are in the draw, prices contract sharply. Lean towards markets with one or two genuine contenders rather than a crowded nationality group where the odds are squeezed.
How To Bet On The Masters: 3 Balls
Three-ball betting - picking which player will shoot the lowest score in their Thursday or Friday grouping - is one of the most enjoyable day-to-day markets at Augusta.
You're essentially doing a mini-handicap on three players across a single round.
Form coming into the week, course history and even tee time can play a role (morning starters may benefit from softer greens early in the week, for instance).
Three-balls require sharp research but offer competitive prices, and with only two rivals to beat rather than the entire field, your chances of landing a winner are far higher.
Ideal for punters who enjoy staying close to the action round by round rather than sweating out a four-day outright bet.
Who do you think will win this year's Masters? Let us know your thoughts in the comment box below!
