The Masters Betting Guide 2021

Odds, Strategy, And History

The Masters Tournament will be the first major of the PGA Tour’s 2021 schedule after being the last major in 2020. Postponed due to the COVID-19 pandemic, this past Masters was held Nov. 12-15 at Augusta National Golf Club in Augusta, Ga, with Dustin Johnson taking the title. The 2021 Masters will run April 8-11. The page below lists the live outright Masters betting odds from the top US sportsbooks to win the 2021 tournament.

Following his record-breaking 2020 Masters win and five-shot victory at 20-under par, Dustin Johnson is the +700 favorite to go back-to-back and win the 2021 Masters at Augusta National.

We’ll highlight some of the key players in the field and look at their 2020-21 seasons heading into the Masters. We’ll also look at some of the most memorable longshots to win the Masters, and break down all the ways to get action on this year’s tournament.

Masters betting odds 2021

Reigning champ Dustin Johnson opened as the favorite to win the 2021 Masters with odds of +700 at DraftKings Sportsbook. Bryson DeChambeau was +800, Rory McIlroy was +900 and Jon Rahm was +1000 immediately following the conclusion of the 2020 tournament.

Masters Odds - Outright Winner

Dustin Johnson
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+700
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+750
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+650
Bryson DeChambeau
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+800
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+1100
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+1100
Rory McIlroy
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+900
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+1000
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+1000
Jon Rahm
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+1000
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+1000
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+1100
Justin Thomas
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+1000
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+1100
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+1000
Brooks Koepka
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+1400
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+1200
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+1400
Xander Schauffele
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+2000
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+1800
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+1600
Patrick Cantlay
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+2500
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+2200
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+3000
Hideki Matsuyama
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+2500
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+3400
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+3000
Collin Morikawa
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+2500
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+2900
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+4000
Patrick Reed
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+2500
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+2700
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+2500
Tiger Woods
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+2800
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+3100
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+4000
Tony Finau
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+3300
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+3400
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+4000
Tyrrell Hatton
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+3300
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+4500
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+4000
Webb Simpson
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+3300
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+2700
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+2800
Sungjae Im
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+3300
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+3100
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+3000
Bubba Watson
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+3300
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+4100
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+4000
Daniel Berger
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+4000
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+3400
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+4000
Jason Day
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+4000
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+4100
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+5000
Tommy Fleetwood
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+4000
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+4500
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+5000
Justin Rose
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+4000
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+4500
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+5000
Adam Scott
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+4000
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+4500
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+6600
Cameron Smith
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+4000
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+5000
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+4000
Matthew Wolff
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+4000
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+3100
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+5000
Viktor Hovland
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+4500
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+3300
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+4000

View current odds for every golfer at DraftKings Sportsbook, FanDuel Sportsbook and BetMGM.

Golfers to watch at the 2021 Masters

Dustin Johnson

Johnson strengthened his hold on the top spot in the Official World Golf Ranking with his first career Masters title. It was his third win of the 2020 calendar year and vaulted him to the top of the FedEx Cup standings, as he seeks a second straight win in the season-long race. He has finished in the top 10 in each of his last five Masters appearances and is the outright betting favorite for 2021.

Bryson DeChambeau

DeChambeau fell flat with a T-34 finish in the 2020 Masters after entering as the betting favorite. He struggled to harness his increased swing speed and distance, and often overshot landing areas and gave himself poor angles. The trials and errors could prove beneficial in the long run.

Rory McIlroy

What could have been for McIlroy if not for an opening round of plus-3, 75. He was 14 under in the final three rounds to grab a third-career top-5 finish at Augusta National. His Saturday 67 was second to only Johnson on the day.

Jon Rahm

Rahm was done-in by a lackluster weekend while finishing T-7 in his fourth Masters appearance. He has finished in the top 10 in each of his last three attempts to make it the only major where he has multiple top-10 results.

Justin Thomas

Thomas was tied with Johnson at minus-9 after 36 holes, but he shot just 3-under over the weekend to slip to fourth for the tournament. He has won at least twice in each of the last four calendar years but is entering his fourth season since his last major championship.

Brooks Koepka

Koepka slipped outside of the top 5 by the opening odds to win the 2021 Masters at both DraftKings and FanDuel following a T-7 result in 2020. Injuries and a light schedule knocked him from No. 1 to outside of the top 10 in the OWGR in under a year.

Collin Morikawa

Morikawa missed the cut at the US Open and finished T-44 in his first Masters after winning the PGA Championship at TPC Harding Park in California. His iron play remains well-suited to the venue and he no longer needs to worry about trying to become the first debutant winner at the Masters since Fuzzy Zoeller in 1979.

Tiger Woods

Woods opened as the betting favorite for the 2020 Masters following his fifth green jacket victory in 2019. He opened with a share of the 12th-best odds at both DraftKings and FanDuel for 2021 after finishing T-38 in the first-ever fall Masters. He birdied five of his last six holes after taking a 10 on the par 3, 12th to get back to 1-under for the tournament.

Daniel Berger

Berger’s career resurgence came too late to qualify for the 2020 Masters, but he was one of the top and most consistent players following the mid-June restart. He soared from 154th to 13th in the OWGR from January to the week of the Masters with his third career win coming at the Charles Schwab Challenge. He tied for 10th in his Masters debut in 2016 but missed the last two runnings of the event.

Viktor Hovland

Hovland will return to Augusta National in 2021 after climbing comfortably inside the top 50 of the OWGR. He was the low amateur at both the Masters and US Open in 2019 and was T-13 at the 2020 US Open.

Masters betting breakdown

Following his record-breaking 2020 Masters win and five-shot victory at 20-under par, Johnson is favored to go back-to-back.

Johnson’s first Masters win and second major title was so impressive, but Justin Thomas (4th) and Rory McIlroy (T5) had very solid tournaments and bettors in the top 5 and top 10 finish market were rewarded as well. Jon Rahm (T7) finished top 10 and all four of those golf superstars finished double digits under par. The 2020 Master favorite Bryson DeChambeau (T34) finished outside the top 30 as the most bet player to win the 2020 Masters.

Brooks Koepka also finished T7 and his best odds to win the 2021 Masters are +1800 at BetMGM, while FanDuel Sportsbook has Koepka at +1200. Xander Schauffele has best odds of +2000 at DraftKings Sportsbook following his T17 finish in the 2020 Masters.

DeChambeau, meanwhile, barely made the cut at the 2020 Masters as he was even par through 36 holes and in a 11-way tie for 50th place. Heexplained some of the issues he was having with being disoriented on the golf course at Augusta National.

“I don’t know what it is or what happened, but these past couple days, I’ve felt really, really odd and just not a hundred percent. Some of that’s played into it. I just feel kind of dull and numb out there, just not fully aware of everything, and making some silly, silly mistakes for sure.” 

Following his disappointing finish and tie for 34th place,  Bryson DeChambeau told the media more about his bouts on the golf course with dizziness and stomach pains through the opening two rounds. He took a COVID-19 test Friday and tested negative.

“I’ve got to fix whatever is going on up here. I have no idea. Just dizziness. It’s only when I go from down to up, so I can’t even like think and talk right now.  But that’s just what happens, I go down and up and my brain gets all disoriented,” DeChambeau said after his final round.

“There was numerous times where I was over it and I just felt super uncomfortable. I couldn’t see anything. I couldn’t see the line. It was really weird. I missed a lot of putts today. ​​​”

While the “Mad Scientist” says he is happy with his golf clubs, it looks like Bryson will be making some changes to his golf ball.

“We’re going to try and work on a golf ball that will fit it a little better with my wedges. I hit a wedge into 1 and it spun 30 feet back and off the green. So hopefully we can come up with a ball that will do some more things that will be helpful.”

Masters sportsbook data

It will be interesting to see bettors’ response to the 2020 Masters when betting on the 2021 Masters Tournament. Expect to see even more betting on Johnson as the favorite.

Johnson was one of the best results for William Hill and DraftKings Sportsook in 2020.

“There was a ton of tickets and a ton of money on him, but the pool was so big and he was one of the smaller-priced guys, so we won,” William Hill sportsbook director of trading Nick Bogdanovich told the Las Vegas Review Journal. “It just goes to show you how much money was in the pool.”

Most sportsbooks had a solid win when DeChambeau failed to win the 2020 Masters or even finish in the top 20. DeChambeau closed as the 2020 Masters favorite at +750 and was the most bet player to win.

BetMGM took a small loss as Johnson was second in tickets and money wagered in the 2020 Masters, and also bet heavily in the tournament match-up over DeChambeau.

Johnson closed as the 8-1 second choice before the tournament. He was +700 after firing a 65 in the first round, was +450 after the second round and entered the final round as the prohibitive -275 favorite.

DraftKings Sportsbook reported DeChambeau was the most popular player to bet in the 2020 Masters. Bryson had 10% of the bets and 20% of the money (handle) in the win pool. Following an opening round 70 and trailing the leaders by 7-shots, DeChambeau’s odds to win were adjusted to +1400 and he still took the most bets (7%) and money (11%) on the adjusted odds market.

Key stats

While DeChambeau did lead all golfers in Strokes Gained: Off-the-Tee stats at the 2020 Masters (+8.1), it was Johnson that was by far the strongest player across the board in strokes gained stats.

Dustin Johnson – 2020 Masters:

  • Tee to green: 1st
  • Long game: 1st (off tee + approach)
  • Off tee: 3rd
  • Approach: 4th
  • Putting: 6th
  • Short game: 9th (putting + around green)

Johnson dominated the field from tee to green, gaining 13.8 strokes combined with his drives and approach shots. He hit 60 greens in regulation, the most by any player at the Masters since Tiger Woods also hit 60 in 2001. And DJ made only four bogeys, the fewest ever by a winner.

For the second consecutive year, Augusta National yielded the lowest scoring average in Masters history. At 71.75, the 2020 field averaged under par for just the third time in tournament history.

Johnson’s 2020 Masters victory marks the 35th consecutive major won by a player ranked in the Official World Golf Ranking top 50 at the time.

Where to bet on The Masters

Course and tournament info

  • Course: Augusta National Golf Club
  • Location: Augusta, GA
  • Date: April 8 – April 11, 2020
  • Par: 72 / Yardage 7,475
  • Fairways/Rough: Ryegrass
  • Greens: Bentgrass
  • How to watch: CBS, ESPN, The Masters Tournament
  • Purse: $11,500,000
  • Defending champ: Dustin Johnson
  • Twitter: @TheMasters

When and where to watch The Masters

When: Thursday, April 8 – Sunday, April 11

Where: Augusta National Golf Club, Augusta, Ga.

How to watch: Jim Nantz and Nick Faldo will again cover the Masters for CBS.

Streaming options: Streaming is available on Masters.com, the Masters app and the CBS Sports app for featured groups and marquee holes.

How to bet The Masters

The 2021 Masters futures odds were released in November of 2020, following Johnson’s victory.

Odds can range from Johnson’s +700 odds for the tournament win to past champion David Duval’s +200000. A $10 bet on each golfer to win the 2021 Masters would return a profit of $70 and $20,000, respectively.

Closer to the start of the tournament, many additional bet types will be released as the field finalizes and first- and second-round groupings and tee times are released. These expanded markets will include two- or three-ball matchups for individual rounds, or for the tournament as a whole.

Matchups will be set for playing partners, golfers with a similar world ranking, or any number of other shared traits. Odds are typically the same for each golfer but can range from -200 to +200 for a return of $5 or $20 on a $10 wager.

Larger pools of golfers will be grouped by world ranking, nationality, or previous results as a form of prop bet. These odds can range from prices closer to even money (+100) or lower to +75000 or longer, depending on the size of the player pool and the degree of variation in their odds to win the tournament outright.

Simpler lines will be set for players to make or miss the cut. These odds will range -700 for Yes to +500 for No for a tournament favorite to closer to even money on each side for a tournament longshot. Similarly, Over/Under lines will be set for specific golfer’s tournament or round scores.

Placing or Finishing Position bets accompany the outright odds for a Top 5, Top 10, Top 20, or Top 40 result. The odds for each golfer in the field will drop with the wider range of their finish.

Straight Forecast betting, popularized in horse racing, is a form of parlay requiring the correct prediction of the finishing order of the winner and runner-up. Wildly difficult, it’s best done in tournaments with one or two top-ranked golfers in a weaker field as a way to boost their individual odds.

Conversely, each-way bets are best used on longshots in star-studded fields such as what’s seen at Augusta. These consist of two wagers on each golfer, with one being for the outright victory and one being for a finish within the Top 3 or Top 5 of the field.

Super Bowl betting markets often include cross-sport bets pitting a player’s receiving or rushing yards against a golfer’s score at the Masters more than two months later.

Masters betting strategy

Typically occurring early in the PGA Tour season, bettors don’t always have as much information from which to draw as they do for the PGA Championship, US Open and Open Championship.

Course history, current form, and key stats are essential areas of research for any golf tournament but are each especially applicable to the Masters. The only major to be played at the same venue each year and against a similar strength of field, course history is more relevant than anywhere else. The same statistical areas apply each year, but be sure to look at a golfer’s career performance in those stats in combination with their more recent play.

Seasonal results, particularly at the major events and those closest to the 2021 Masters will have great effects on the odds. Not only will the bookmakers adjust the odds for the winners and top finishers as they move up the OWGR and 2021 money list, but the odds will also reflect the number of bets and percentage of the betting handle coming in on certain golfers.

Be sure to regularly check-in on the PGA Tour futures odds at multiple books, and always be ready to pounce on discrepancies and inflated numbers as a result of a poor finish or injury.

While futures and outright bets carry the highest odds and can result in the largest paydays, they’re incredibly risky. Be sure to always hedge your outright picks and bets against a wider range of props and matchup bets. These safer plays should receive a significantly larger portion of your bankroll.

In-play betting can also help hedge against your futures bets by looking at Strokes Gained data after each round. This data gives a better sense of golfers who could be poised for a big weekend despite their odds remaining high if only narrowly making the cut.

Player performance at Augusta National

Understanding the course and knowing how to play the holes and where to place shots are essential for success at Augusta. So is familiarity with the greens, which is why players with less experience on the course usually don’t fare as well. But forecasting players putting week-to-week can be difficult. Augusta is mostly a second-shot golf course, and while longer hitters have an advantage and playing the par 5s well under par is significant to success, it’s precision ball striking, quality irons and approach play and premium putting with the ability to get the ball in the hole from a distance of 10-feet or less that are keys to success.

Stats to Evaluate

  • Strokes Gained: Around-the-Green
  • Strokes Gained: Putting
  • Ball striking
  • Approach play
  • Scrambling
  • Birdies

Length is an advantage at Augusta, which plays to a par 72 and 7,435 yards but plays longer with a number of uphill holes and the grain of the fairways pointing back towards the tee boxes. The course remains heavily tree-lined, and each hole is named after a flower, plant or tree. The scores can be dictated by the weather and wind,  as evidenced by Jordan Spieth (-18) winning in 2015 and Danny Willett (-5)  in 2016.

Since the Masters is played on the same course every year, there are many trends noted. They include:

  • Before Woods won last year, each of the last 11 Masters winners was under the age of 40
  • 16 of the last 21 Masters champions made the cut in their previous start on Tour
  • 11 of last 13 Masters champions were ranked inside the world’s top 30
  • 11 of last 12 Masters champions posted a previous top-30 at Augusta
  • No defending champion or the world No. 1 ranked player has won the Masters in the past 11 years

The Bentgrass greens are lightning fast, and typically feature run-off areas, slopes and multiple tiers. This is the ultimate test of ball striking to ensure approaches land on the proper tier and allow for better chances to make birdies.

While the favorites will get much of the media attention and betting action, Patrick Reed (40-1) proved in 2018 that there are plenty of top pros that provide value and have a chance to win and wear the green jacket.

Biggest betting longshots in Masters history

Patrick Reed (2018) +6000

Reed had six PGA Tour victories to his name at the time of his 2018 major win, and he has won twice since. He ranked 24th in the world.

Danny Willett (2016) +15000

Willett’s lone PGA Tour victory to date came amid a back-nine collapse by former champ Jordan Spieth. He won on the European Tour earlier in 2016.

Angel Cabrera (2009) +12500

Cabrera’s second major victory came less than two years following his breakout win at the 2007 US Open. He also had three victories to date on the European Tour but ranked 69th in the world.

Trevor Immelman (2008) +15000

Immelman had eight professional titles under his belt and sat 29th in the world ahead of the 2008 Masters. His only win since came on the then-Web.com Tour in 2013.

Zach Johnson (2007) +12500

Johnson’s only PGA Tour victory prior to his breakout major win was at the BellSouth Classic in 2004. He has won another major since, but he has no victories of any sort since the 2015 Open Championship.

Masters fun facts

  • Most wins: Jack Nicklaus (6)
  • Youngest winner: Tiger Woods (21 years, 104 days)
  • Youngest qualifier: Tianlang Guan, 14 (2013)
  • Oldest winner: Nicklaus (46 years, 82 days)
  • Widest winning margin: Woods (12 strokes)
  • Lowest winning score: -18 (Woods, Spieth)
  • Highest score on one hole: 13 (Seve Ballesteros: 16th hole in 1988, Sergio Garcia: 15th hole in 2018)
  • Best comeback: Jack Burke Jr. over Ken Venturi, trailed by eight strokes after Round 3
  • Amateur winners: None, three runner-ups
  • Most times runner-up: 4 (Tom Weiskopf, Nicklaus, Ben Hogan)

Masters FAQ

Who qualifies for the Masters?

  • All Masters champions
  • Last five US Open champions
  • Last five British Open champions
  • Last five PGA Champions
  • Last three winners of The Players Championship
  • Current Olympic golf medalist (if from the previous year)
  • Current US Amateur champions and the runner-up
  • Current British Amateur champion
  • Current Asia-Pacific Amateur champion
  • Current US Mid-Amateur champion
  • Current Latin America Amateur champion
  • First 12 finishers, including ties, from previous year’s Masters
  • First 4 finishers, including ties, from previous year’s US Open
  • First 4 finishers, including ties, from previous British Open
  • First 4 finishers, including ties, from previous PGA Championship
  • Winners of PGA Tour events awarding a full-point allocation for the Tour Championship from the previous Masters to current Masters
  • Qualifiers from previous year’s Tour Championship
  • Top 50 leaders from the OWGR at end of the previous calendar year
  • Top 50 leaders from the OWGR published the week prior to the Masters
  • Top 50 leaders prior to the originally scheduled Masters at Week 11 (March 15th)

Where is the Masters this year?

Augusta National Golf Club, Augusta, Georgia

What are the highest and lowest scores to win the Masters?

Tiger Woods (1997) and Jordan Spieth (2015) share the record for the lowest score at minus-18. Three golfers, Sam Snead (1954), Jack Burke Jr. (1956), and Zach Johnson (2007) have all won the Masters at plus-1.

Has anyone ever won back-to-back Masters?

Tiger Woods (2001 and 2002), Nick Faldo (1989 and 1990), Jack Nicklaus (1965 and 1966) have all won the Masters in back-to-back years.