Masters Betting Trends & Action Report

Masters betting is, as Jim Nantz might say, a tradition unlike any other. Wagering on Masters odds is a rite of spring, and the perfect way to immediately emerge from the letdown of March Madness coming to a close.

No surprise, Jon Rahm is the favorite in odds to win the 2023 Masters, but plenty more players are in the mix, including defending champion Scottie Scheffler.

Neil Fitzroy, risk manager for The SuperBook, provides insights on Masters odds, betting trends and action. Check back for updates right through Sunday at Augusta.

2023 Masters Odds

Red-Hot Rahm

Rahm already has three wins this season, claiming back-to-back starts at the Tournament of Champions and The American Express in January, then winning the Genesis Invitational in February. And he's constantly been at or near the top of the leaderboard, with six top-10 finishes in seven events.

Back on April 11, 2022, after Scheffler won the green jacket, Rahm and Scheffler opened as +1200 co-favorites to win this year at Augusta. Rory McIlroy was close behind as the +1400 third choice at The SuperBook.

Other than the odds themselves, not much has changed for those three players. As of March 9, Rahm is the +700 chalk, McIlroy is into +800 as the second choice, and Scheffler is at his opening price of +1200. From there, no other golfer is shorter than +1800.

"Take your pick, it's the three best golfers in the world. And there are storylines surrounding each," Fitzroy said. "McIlroy is trying to complete the Grand Slam. Scheffler is attempting to defend his title. Rahm is trying to add a second major to his resume and continue adding wins to his career year."

Fitzroy said Rahm and McIlroy are among those drawing noteworthy dollars in Masters betting over the past few weeks. In addition, Max Homa and Jordan Spieth are getting notice. Homa opened well back at +8000 and is now the +2000 co-seventh choice, just behind Spieth's +1800.

And of course, bettors can't lay off five-time Masters champ Tiger Woods, who's currently at +4000 after opening 100/1.

Ticket Takers and Money Makers

Two years ago, Will Zalatoris surprised oddsmakers and bettors alike with a second-place finish at the Masters. He followed it up in 2022 with a solid sixth-place effort at Augusta National.

So it shouldn't be surprising that Zalatoris (+2500) leads the ticket count in The SuperBook's Masters odds market. Spieth is No. 2 in tickets, followed by defending champ Scheffler. However, the money count differs, with Rahm taking the most cash, followed by Collin Morikawa (+1800) and McIlroy.

"We are rooting against Morikawa. There's a four-figure bet on him at 25/1," Fitzroy said. "We're also rooting against Tony Finau. There's a bet on him in four figures at 30/1."

One of the big Masters talking points is that players from the new LIV Golf tour will be allowed to play in the Masters. Seventeen LIV golfers are eligible, including six former Masters winners: Dustin Johnson (2020), Patrick Reed (2018), Sergio Garcia (2017), Bubba Watson (2012/2014), Charl Schwartzel (2011) and Phil Mickelson (2004, 2006, 2010).

At the moment, Fitzroy and rest of The SuperBook risk room would love to see one of those six don the green jacket come April 9.

"We will be cheering for any of the LIV guys. Bettors have little to no interest in the LIV golfers for the Masters or any other majors," Fitzroy said. "DJ and Cam Smith are good outcomes."

Long Shots/Under the Radar

Jason Day isn't even in the Masters field yet, needing to make the cut at The Players Championship in order to ensure eligibility. But that seems likely, and the Aussie is certainly an issue behind the counter.

"There's a bet on him in the three figures at 200/1. We are currently at 50/1," Fitzroy said.

Day hasn't won this season, but he's been quite consistent, making nine cuts in 11 events, with five top-10 finishes. In fact, in those nine cuts made, he's finished in the top 25 of all nine tourneys.

"Max Homa was a long shot, but he isn't anymore," Fitzroy said, alluding to Homa's big jump from 80/1 to 20/1. "There's also a bet on him in the high three figures at 60/1. There's a four-figure bet on Tom Kim at 50/1, and we are currently at 50/1. But I don't expect Kim to be a liability by the time the tourney starts."

Fitzroy considers Day under the radar at this point, and also pointed to another potential dark-horse pick.

"Sungjae Im is under the radar at the moment. He's around 40/1 and has quietly been playing well for a while now. He has a runner-up and an eighth-place finish in three starts at Augusta," Fitzroy said. "He doesn't really have a weakness in his game. He just needs to take a break and rest before the Masters. Including The Players Championship this week, he's played nine of the last 10 weeks."