The Masters tees off shortly and Las Vegas is expecting something special. There is talk around town is that this could be the most wagered on Masters of all time for the state of Nevada. Tiger Woods went from long shot to favorite but he’s not the only reason for the surge in golf betting at Las Vegas casinos.
- Handle at MGM Resorts in Las Vegas is up 60% to 70%. Could be largest ever.
- The high activity on Tiger Woods is making other golfers a better value. Bets are up for all golfers.
- Sharp sports bettors look for value outside of the big names.
Jay Rood, VP of Race & Sports for MGM Resorts casinos in Las Vegas says that Masters betting at his properties is through the roof. Handle, the amount of money wagered, is up by 60% to 70% over last year’s Masters betting.
The number of bets made this year is up about 30% and the average wager per ticket is higher than previous years. Additionally, while mobile wagering is usually 25%-30% of overall handle, golf is at least that and maybe more. The easy access to betting via mobile device makes it easy to drop $20 on a random prop bet or two.
This should be the largest-bet Masters of all time
The Tiger Effect
Tiger Woods’ comeback is certainly having an effect on Masters betting. However he may move the needle for television ratings, he’s just another golfer that gets a lot of action in the sportsbook. Bubba Watson, Rory McIlroy, Dustin Johnson and other popular golfers are also seeing a lot of bets.
While a record betting handle is expected on the Masters, it isn’t only because of one factor. It’s the combination of the popular golfers playing well and the possible comeback event for Tiger Woods.
While the mainstream public is betting heavily on Tiger, the golf fans and sharper sports bettors are finding value elsewhere. Rood sees bets coming in on a variety of golfers. Sharper money is being wagered on Tommy Fleetwood. The experienced golf bettors are also looking at younger guys like Alexander Noren. Jay Rood sees value with one of the younger golfers, Ryan Moore, at 100-1 odds.
Tiger is still Tiger
Odds on Woods to win the Masters are low across the board. He’s even moved from 12-1 to 10-1 at MGM Resorts sportsbooks. He’s still the favorite at a handful of casinos around Las Vegas but he’s not the prohibitive favorite that he appeared to be last week.
America loves a comeback story and there are plenty of people watching and wagering to see that from Woods. Meanwhile, the sharper sports bettors are laying in the weeds just watching odds get better for a variety of golfers that have a legitimate chance to win the tournament.
I’m not much of a golf fan but I always have a couple wagers because I love watching the Masters. My two slightly educated bets to win the Masters are on Noren and Louis Oosthuizen.