Masters Betting By The Numbers: How Much Money Is Involved With The Masters?
The 2024 Masters Tournament is this week, and the best golfers in the world will be competing for an $18 million purse. The Masters is a major championship in golf that brings out a lot of sports betting interest. Just how much money is involved with The Masters in totality? From betting to TV deals, let’s break down The Masters by the numbers.
Masters Sports Betting Examined
Let’s begin by taking a look at how bettors are placing action on Masters odds. According to figures released by BetMGM, Scottie Scheffler is the consensus favorite and has the shortest odds by a wide margin. Not only that, but Scheffler is seeing the highest ticket percentage as well at 14.5% and the highest handle percentage at 19.2%. Most of the money is on Scheffler.
Tournament Winner Line movement (Open to Now)
- Scottie Scheffler +900, +400
- Jon Rahm +750, +1200
- Xander Schauffele +2000, +1400
- Tiger Woods +10000, +12500
Highest Ticket%
- Scottie Scheffler 14.5%
- Brooks Koepka 8.6%
- Rory McIlroy 8.5%
- Jon Rahm 5.5%
- Xander Schauffele 5.3%
Highest Handle%
- Scottie Scheffler 19.2%
- Brooks Koepka 11.0%
- Rory McIlroy 8.9%
- Xander Schauffele 5.5%
- Jon Rahm 5.2%
Golf is known for bringing out the big bets as well, and sportsbooks can expect to see large wagers placed on Scheffler leading up to tee off. A bettor won $3.3 million, betting $300,000 on Scheffler at the 2023 Players Championship.
BetMGM also revealed that Tiger Woods is the biggest liability for sportsbooks. Despite being ranked 959 in the world currently, the Big Cat is still managing to bring out the bettors for this Tournament. In 2019, the last time Tiger won The Masters, a bettor turned $85,000 into $1.2 million betting on him.
Biggest Liabilities
- Tiger Woods
- Brooks Koepka
- Scottie Scheffler
- Rory McIlroy
- Wyndham Clark
How Much Does A Ticket To The Masters Cost?
Securing a ticket to The Masters requires the same luck it takes to select the outright winner. Fans hoping to attend the event will need to be selected in a lottery. Fans must first apply to attend Augusta National more than ten months before The Masters Tournament. The lottery for the 2024 Masters was opened in June 2023 and ran for 20 days.
Roughly two million people place their names into the running for a ticket to attend The Masters Tournament each year. The odds of winning a ticket are 1 in 200. However, if bettors are lucky enough to be selected to attend, tickets only cost approximately $140 for the main Tournament and $100 for the practice round.
How Much Does The Masters Make On TV Revenue?
Most fans will tune in for The Masters at home on TV. The 2023 Masters Tournament raked in viewership numbers, eclipsing 12 million. Interestingly, The Masters does not have a standard media deal with major networks. It is estimated that if The Masters had such a deal, it would rake in $125 million every year.
Despite missing out on massive Masters money from TV ads, the event still rakes in approximately $150 million in gate, merchandise, and concessions.
How Much Money Does The Masters Winner Make?
Out of the $18 million purse, winnings are distributed to all contestants, with the largest prize going to the winner. In the 2023 Masters Tournament, Jon Rahm took in $3.24 million as the first-place winner. The winner of the 2024 Masters is expected to see a similar payout. Second place received $1.584 million, and third place took home $744,000. The last-placed golfer took home $45,060 in winnings.
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