It may be early days, but top sportsbooks like Bovada have already released their 2024 outright odds to win the Masters Tournament.
If you’re looking to make the biggest profit on your favorite players, now’s the time to get your bets in.
With that in mind, we’ll relive some of the most exciting moments from the 2023 Augusta National, look at the current Masters odds, discuss Masters betting strategies, and analyze some of the players to look out for at the 2024 Masters.
Favorites to Win 2024 Masters
- Jon Rahm +700
- Scottie Scheffler +900
- Rory McIlroy +1000
- Jordan Spieth +1400
- Patrick Cantlay +1800
- Brooks Koepka +2000
- Justin Thomas +2000
- Cameron Smith +2200
- Collin Morikawa +2200
- Xander Schauffele +2200
- Cameron Young +2500
- Dustin Johnson +2500
Recap of the 2023 Masters Tournament
While all four of the Majors tournaments draw millions of golf bettors every year, nothing beats the spectacle of the Masters. The winner is considered by most avid golfers to be the best golfer in the world.
John Rahm, who’s participated in the Masters Tournament six times before, managed to seal the deal on his seventh attempt, finishing the week with an impressive score of -12 and claiming the coveted green jacket.
Rahm improved on the greens and barely left the fairway, something that his rivals couldn’t accomplish this time around.
The first Major tournament of the year provided plenty of excitement and surprises following the controversy surrounding the LIV golfers invited to play in the entire tournament. However, once the Masters was underway, it was clear that the gentlemen had put their differences aside.
One of the big shockers of the tournament came after round 2, with Rory McIlroy, one of the favorites to win, carding a dismal 77. McIlroy didn’t make the cut, which ended his pursuit of his career grand slam for the 2022 – 2023 PGA Tour season.
The third round of the Augusta on Saturday saw weather conditions interrupt the tournament, suspending play until Sunday.
Brooks Koepka put on a solid performance throughout the week. The third round closed with Koepka leading and Rahm just two shots away, but Koepka failed to secure a birdie until the 13th hole, allowing Rahm to get ahead of him.
Sunday morning brought the news that Tiger Woods would be withdrawing before facing the eighth hole of the third round. He did an incredible job under the circumstances, but you could see that he was exhausted.
Rahm held firm on his way to the green jacket on Sunday afternoon, regaining his confidence and landing a birdie at hole 14.
At the end of the day, Koepka put up an impressive performance all week, but couldn’t hold onto the lead, and Rahm dominated by 3 shots.
2024 Masters Golf Tournament – Key Information
- When: Thursday 11 April – Sunday 14 April 2024
- Course: Augusta National Golf Club
- Length: 7,475 yards
- Par: 72
- Location: Georgia
- Defending Champion: Jon Rahm
- Prize: The Augusta National’s Green Jacket, over $3 million, and other prestigious prizes
Betting Odds to Win the 2024 Masters
We’re taking a look at Bovada’s futures odds for the 2024 Masters Tournaments to identify the favorites to win, as well as some top contenders and long shots.
John Rahm Odds to Win Masters +700
John Rahm is the reigning champion of the Masters, having won the 2023 edition. He’s a relatively young player with 11 career wins under his belt and currently ranking in 1st place in the OWGR.
He’s obviously in top form, but a lot can happen before the 2024 Masters and back-to-back wins aren’t common in this competition. Based on Masters betting history, Rahm winning the 2024 Augusta feels like a long shot.
Scottie Scheffler Odds to Win Masters +900
The 2022 champion was a favorite to win the 2023 Masters. Scheffler and Rahm seem to go neck and neck at these tournaments. He closed off 2022 by finishing 2nd in the Hero World Challenge. Scheffler impressed by winning the Players Championship in March with a score of -17.
He currently ranks number 2 in the OWGR and tied for 10th place at the 2023 Masters, disappointing his fans with a less-than-impressive performance. The odds for Scheffler to win the 2023 Masters are on the short side, but his winning a few more tournaments between now and then could be enough to convince us that he’s a viable candidate to take the green jacket home.
Rory McIlroy to Win Masters +1000
Rory McIlroy had a stint at number 1 in the OWGR after finishing 2nd in the 2022 Masters Tournament, but then went on to miss the cut in 2023.
Even though his outright odds for the 2024 tournament are sitting at +1000, we don’t consider this a great bet and don’t recommend it unless you’re a fan. He’s only taken one win in the 2022-23 PGA Tour season, which was The CJ Cup in South Carolina.
Jordan Spieth Odds to Win Masters +1400
The 2015 Masters champion is currently ranked 10th in the OWGR with 0 wins under his belt for the 2022-23 PGA Tour, although he has finished in the top 10 five times. He tied for 4th at the 2023 Masters Tournament and finished 2nd at the RBC Heritage Tournament.
Spieth’s odds are a little too short to excite us, especially since we consider him a volatile player at the moment having only finished in the top 3 twice this year so far. For these odds to be worth it, Spieth will have to prove that he’s consistent.
Patrick Cantlay Odds to Win Masters +1800
Cantlay’s a young player who shows a ton of promise. He’s won 8 PGA Tour titles and was the 2021 FedEx Cup Champion. He also won the BMW Championship in 2022.
The crazy thing about Cantlay is that he won the BMW Championship a week after he tied for 57th position in the FedEx St. Jude Championship – and then proceeded to tie for 7th in the TOUR Championship.
He seems like a young player who’s full of promise and bound to win the Masters at some point, but we’re not sure that 2024 is that year. And, at odds of +1800, it’s probably not worth betting on.
Brooks Koepka Odds to Win Masters +2000
Koepka put on a formidable show of strength at the 2023 Masters, vying with Rahm for the green jacket until the end of the 3rd round. He seems to be back in top form following his injury and might be a serious contender at the 2024 Masters Tournament.
He’s positioned 4th on the LIV Golf leaderboard and we don’t know when we’ll see him play in a PGA again, so it’s difficult to assess how ready he’ll be for the next Augusta. Unless we see him play in a few more PGA Tours leading up to it, we won’t be risking these odds.
Justin Thomas Odds to Win Masters +2000
Thomas has 15 PGA Tour Wins but hasn’t taken home any trophies since he won the PGA Championship for the 2nd time. In the 2022-23 season, he’s made the cut 9 times and the top 10 twice so far.
He currently ranks at number 65 in the OWGR and his most impressive performance of 2023 was to finish in 4th position at the WM Phoenix Open. In our opinion, these odds are too short to bet on Thomas to win the 2023 Masters at this point. If he were to pull off a hero move and climb the ranks to the top 5 before the Masters, we might consider it.
Cameron Smith Odds to Win Masters +2200
The 29-year old ranks in 9th position on the LIV Golf leaderboard and 8th in the OWGR. He turned pro in 2013 and has won 6 PGA Tours since 2016.
He tied for 34th position at the 2023 Masters Tournament finishing on +4. These odds are a little short, but they might be worth betting on. Smith finished in the top 5 three times in the past and finished in the top 10 in 4 of the past 5 Masters.
2024 Will be Smith’s 8th Masters start. He fits the profile of a Masters winner based on the stats.
Collin Morikawa Odds to Win Masters +2200
Morikawa has won 5 PGA Tours since he turned pro in 2019 – including an Open Championship. Despite a very average 2022-23 PGA season, he managed to tie for 10th position at the 2023 Masters Tournament and then proceeded to tie for 31st position in the RBC Heritage.
The odds of +2200 are low value for such a volatile player. For us to change our minds, Morikawa would have to prove that he can maintain a constantly high level of putting.
Dustin Johnson Odds to Win Masters +2500
There was a time when we’d consider betting on Dustin Johnson at these odds, but he hasn’t shown that he has what it takes to win a Masters since he took home the green jacket in 2020.
Since then, he failed to make the cut in 2021, tied in 12th position in 2022, and tied in 48th position at the 2023 Masters Tournament. These odds don’t justify his recent performance at the Masters and we won’t be taking them.
Viktor Hovland Odds to Win Masters +2500
Norwegian Hovland ranks at number 12 in the OWGR, boasts 3 PGA Tour Wins, and managed to tie in 7th position at the 2023 Masters Tournament. He tied in the 27th position the previous year, which says that he may be learning the course.
Given Augusta National’s reputation, we wouldn’t be too surprised if he managed to take home the Masters Trophy in 2024, although a lot has to happen to convince us to bet these odds. After tying for 7th in the Masters, Hovland tied in 59th position at the RBC Heritage.
Hideki Matsuyama Odds to Win Masters +3300
Winner of the 2021 Masters Tournament, Matsuyama has 8 PGA Tour wins and currently ranks 21st in the OWGR. He’s been plagued by injuries and hasn’t been able to finish in better than 5th position in the 2022-23 season, even though he’s started 15 times so far.
It’s a shame that a young and talented player who loves the game has to deal with injury. Nevertheless, we wouldn’t recommend rooting for Matsuyama to lift a Masters Trophy again any time soon.
Will Zalatoris to Win Masters +3300
Zalatoris is 26 years old, turned pro in 2018, and ranks at number 8 in the OWGR. He tied in 6th position at the 2022 Masters and went on to win the FedEx St. Jude Championship later that year, but has since been withdrawn from several tournaments due to injuries. This includes the 2023 Masters Tournament.
Bovada puts his Masters odds of winning the 2024 title at +3300, which is around the same as his odds were for winning the 2023 Masters. He’s an unreliable bet, but if he shows up, who knows what might happen.
Phil Mickelson to Win Masters +8000
Mickelson is a three-time Masters champion who delivered an expert performance at the 2023 Masters, tying with Koepka for 2nd.
Bovada currently has his current Masters odds at +8000, making this a lucrative bet – even if you only stake a low bet. In our opinion, Mickelson shouldn’t even be a long shot, but based on his odds, here he is.
Tiger Woods Odds to Win Masters
Tiger Woods withdrew from the 2023 Masters after making the cut. He finished in 47th position – a valiant effort from the GOAT himself. It seems that Woods’ knee injury may prevent him from playing in the Masters again. Bovada hasn’t released any odds for him as yet.
Lee Westwood to Win the Masters
Lee Westwood has finished second twice at the US Masters. He’s part of the LIV Golf circuit along with popular golfers Koepka, Patrick Reed, and Cameron Smith.
Westwood is a former world number 1 golfer, so, surprisingly, Bovada does not provide outrights for him to win the 2024 Masters. It could be due to the fact that he was missing from the 2023 Augusta, but a lot can happen in a year.
Masters Betting Strategy
To launch a Masters betting strategy, you should watch the previous tournament and familiarize yourself with historical Masters stats.
You’ll learn things about the course like which holes are a breeze and where the treacherous turns are located. This information can be pivotal when you’re betting – especially if you’re keen on staking proposition bets.
Here’s how knowing about the Masters can help you bet:
Winning Margin Bets
The widest margin of victory ever was achieved by Tiger Woods in 1997. It was 12 strokes. If you place a winning margin bet, you might want to keep it at under 12 strokes.
There are numerous stats and facts that you can cultivate to help you choose a winner. Here are some examples:
- Jon Rahm was the favorite to win the 2023 Masters based on 2023 Masters odds
- The average age of Masters winners is 32 years
- 17 Golfers have won the Masters more than once
- There have only ever been 3 back-to-back winners of the Masters:
- Doug Ford: 1957 and 1958
- Jack Nicklaus: 1965 and 1966
- Nick Faldo: 1989 and 1990
- The average number of times a golfer plays the Masters before he wins is 6. Jon Rahm won the Masters on his 7th attempt, so he fits the profile perfectly. However, 3 players in Masters history have won the tournament on their first attempt.
- The most recent 10 winners were ranked top 25 in the OWGR
There’s tons of information available on the Masters website that can help you place strategic proposition bets. Bovada offers countless props betting options, such as ‘number of hole-in-ones’, ‘hole-in-one at a specific hole’, to name a few.
- Only 34 hole-in-ones have been achieved in Masters’ history
- There have been 24 hole-in-ones at hole 16
- The highest number of hole-in-ones in a Masters tournament is 3
Guide to Masters Betting – FAQs
Where is the Masters Played?
The Masters is the only tournament in the Majors played on the same course every year, the Augusta National Golf Club, which is why the US Masters is also known as the ‘Augusta National Masters’.
Who is the Favorite to Win the 2024 Masters?
According to leading sportsbooks, like Bovada, John Rahm is the favorite to win the 2024 Masters with betting odds of +700.
What Are the Odds for Tiger Woods to Win the Masters?
Bovada hasn’t released odds for Tiger Woods winning the Masters since it seems unlikely that he will play in the 2024 Augusta Tournament.
Who is the Defending Champ?
John Rahm is the defending champion, having won the 2023 Masters Tournament with a score of -12.
How Much Does the Winner of the 2024 Masters Get?
We’re not sure how much the winner of the 2024 Masters Tournament will get just yet. Rahm received a whopping $3.2 million. The winner of the 2024 Masters will likely receive more than this.
How to Bet on the Masters Golf Tournament in 2024
If you’re wondering how to get started betting on the Masters online, go through this section. You’ll need to sign up with a sportsbook, so we’ve put together this step-by-step for signing up at our number 1 choice – Bovada.
Step 1: Launch the Sportsbook Site
- Use this link to open Bovada on any device
- Click on “BET NOW”
- Then select “JOIN NOW”
Step 2: Register
- Create a username, password, and click “REGISTER”
- Complete the short registration form
- Confirm your email or mobile number
- Create a 4-digit PIN for your account
Step 3: Enjoy Betting on the Masters
- You’ll be automatically logged in
- Browse the Masters markets and odds
- Deposit when you’re ready and claim the bonus if you’re keen
- Use your Masters knowledge to bet strategically
Masters Betting Tips
To bet on the 2024 Augusta, you need to have an account at a sportsbook that offers golf betting. If you want the highest odds and a chance to maximize your winning potential, we recommend signing up at Bovada.
The sportsbook already lets you place bets on the 2024 Tournament with impressive odds. The odds change as we get closer to t-off, with odds on the favorites typically plummeting. It’s best to get your bets in early and take advantage of futures prices.
Here are some additional tips to help you stake the most strategic bets.
Open Accounts at Multiple Sportsbooks
By having multiple online sportsbook accounts, you will be able to compare odds and find the best deals. While it can be a little time-consuming, you should always be looking at different sportsbooks, shopping for the best lines, odds, and payouts for your Masters bets.
Take Advantage of Deposit Bonuses
Deposit bonuses are a great way to increase your bankroll for betting on the Masters. The most popular type of deposit bonus is the Sports Welcome Bonus, but there are plenty more. Once you’ve signed up, you can take advantage of reload bonuses and special golf betting bonuses.
Most deposit bonuses will give you a bonus based on a percentage of your deposit. If you take the bonus, you can bet more and try riskier bets.
Bet After Every Round
Golf is a beautiful sport for betting because it’s played over several days – the Augusta spans an entire week. This gives you ample time to assess the current form of the golfers on the Augusta National Golf Course and adjust your bets accordingly.
You can bet on things like ‘leader after round’ and ‘finishing position’ once the tournament has started. A good strategy is to watch the tournament and bet on a leader after each round as well as finishing positions.
Learn About the Various Betting Markets
A good sportsbook like Bovada opens the outright betting markets months before the Masters. Dozens of additional betting markets are added closer to the time and even more are added when the tournament is in play.
To make informed bets, you should understand the various betting markets. Here’s a brief overview of some of the most popular Masters odds markets:
This is the most common type of Masters bet where you bet on the golfer that will win the tournament. The odds are referred to as outright odds on sportsbooks.
The odds that we are referencing are outright odds from Bovada sportsbook. They’re already available and you can stake your bets now – which might not be a bad idea. The odds will become less favorable as we get closer to the tournament, so you could stake a small bet now and get a good payout if you predict the winner correctly.
If predicting the winner of the Masters sounds too extreme, finishing position bets can be your friend. You can bet on a player to finish in the top 5, 10, 15, or 20, etc. It’ll pay less, but it’s a safer bet.
Leader After Round
You can bet on the player who will be the leader after each round of the tournament. This is one of the best features of betting on golf because you can watch the Masters and place your bets based on how the players are doing.
You can place each-way bets on many of the Masters markets. If you place an each-way bet with quarter terms on Zach Johnson to win, you’ll be paid outright odds if he does and a quarter of the odds if finishes in the top 5.
Make the Cut
Betting on a player to make it to the top 50 weekend.
These are match-up bets between 2 players. You can bet on one player to finish ahead of another. Bovada will also offer match bets at specific holes, which is a fun, fast bet that provides edge-of-your-seat thrills.
The Masters provides tons of special bets that deliver high entertainment value and exciting odds. Examples are:
- Top American
- Hole in One in Masters
- Hole in One at specific holes
- Player to hit the longest drive
- Number of birdies for specific players
These are accumulator bets that stack up and pay huge dividends at low risk. You predict several outcomes with one bet and all your predictions must pan out to win the bet.
The odds of the bets in your accumulator are multiplied to determine the payout if your parlay wins, so the potential profits are huge.
Why Bet on the Masters Tournament Online?
The main reason that golf bettors bet on the Masters is because of the entertainment value it offers. Watching the tournament live is fun, but it gets even more interesting if there is some money on the line.
The Masters offers additional opportunities for strategic bettors that other golf events don’t. The tournament is played on the same course every year, so bettors have knowledge of the course history, the danger zones, and the holes that are notorious for aces.
You can use this knowledge to bet on dozens of markets with high odds when you bet online at a trusted sportsbook. Watch the tournament in real-time and place your bets as the action unfolds from your smartphone or PC.
Take advantage of loads of bonus offers to increase your bankroll and place more bets – or place risky Masters bets using your bonus money and stand in line to win some major jackpots. Online sportsbooks offer Masters promotions that make the tournament more exciting – you can compete with other bettors and customize your parlay bets.
The Masters is the most prestigious golfing event on the PGA calendar, featuring the best golfers in the world. Is there a better time to bet on golf than when all the legends are on the course?
Why is Bovada the Best Site to Bet On the Masters in 2024?
Bovada is one of the most popular sportsbooks in the US and is trusted by millions of sports bettors across the globe. The site gives you a $250 sports bonus when you make your first deposit.
During the Masters Tournament, you can capitalize on reload bonuses, and the site offers plenty of sports promotions throughout the year that you can use to bet on various PGA golf events and other golf tournaments.
You won’t find more Masters betting markets at any other sportsbook. Bovada offers all the popular Masters markets – and then some. You can start placing your outright bets right now and enjoy stacks of additional markets when the Masters is in full swing, including regular and unique proposition bets.
The site delivers the most competitive odds on average for the Masters tournament. If you go line shopping, you might find a better price on bets here and there, but you’ll keep coming back to Bovada because it delivers consistently higher betting odds.
The site supports Visa, MasterCard, cryptocurrencies, MatchPay, and bank transfers and pays out in around 24 hours – within 1 hour if you’re betting in cryptocurrency.
Check out similar guides:
- PGA Championship odds
- US Open odds
- British Open Championship betting odds
- RBC Heritage betting odds and tips
Ready to Place Your Bets On the Best Odds to Win the Masters?
The Masters marks the beginning of spring, the most beautiful time of the year. It’s also the most exciting betting time of the year!
Take advantage of the highest Masters odds at Bovada. Enjoy fast withdrawals, the biggest range of Masters betting markets, and top-class customer support to answer any of your Masters betting questions.
Don’t forget to keep track of the tournament by watching the event live and placing strategic bets according to the players’ forms and weather conditions to increase your winning potential!
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