The Masters Odds & Markets
The Masters carries a full set of golf betting markets, from the outright winner down to first-round leader and live in-play. This guide explains what each market covers and how each-way and place terms work at Augusta. Live prices and the current field live in the sportsbook; here we focus on how the markets are built.
Outright winner and each-way
The outright winner market is the headline bet: you back a player to win over four rounds, at long prices because the field is large at the start. Each-way splits your stake into a win part and a place part, and it is hugely popular at the Masters because the field of genuine contenders is short. Place terms (how many places pay and at what fraction) vary with field size, so always check them in the sportsbook before you stake. A winning bet settles once the result is official, and prices are paid in rand. The wider golf betting guide covers each-way in more detail.
Top finish, match-ups and first-round leader
Top-5 and top-10 markets pay out if your player finishes in that bracket, which can be a steadier play than backing an outright win. Head-to-head match-ups pit two players against each other over a round or the tournament, so you only need your man to beat one named rival. First-round leader is a one-round punt settled after Thursday's play. Live in-play lets you bet as the tournament unfolds; see in-play betting for how that works. For the angle behind these markets, read how to bet the Masters.
Frequently asked questions
How many places does each-way pay at the Masters?
It depends on the field size and the sportsbook's terms for that event, so the number of places and the fraction paid can change. Always check the each-way terms shown next to the market before you place a bet.
What is the first-round leader market?
It is a bet on which player posts the lowest score in the opening round. It settles after Thursday's play is complete, separately from the outright winner market.