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The following golf betting rules are standard industry
wide but it is highly recommended that you check the fine
print at your online sportsbook as rules can and do vary at
different gambling venues. Betting on the PGA can be fun and
very profitable! It is a sport in which you can truly gain
an advantage vs. the oddsmakers as they don't spend as much
time on this sport as they do the other major sports with
higher handle on their events.
Outright Tournament Winners - Player to Win: All outright
wagers are paid out after the official announcement goes public
of which player won the tournament. This includes playoffs.
In the case of a PGA tournament being reduced from the scheduled
number of holes, any bets made after the final completed round
will be voided. If the scheduled number of holes in a tourney
are not completed, all outright bets are void unless an official
winner is declared, in which case outright bets will stand.
72 Hole Match Betting - Player vs. Player: The player
with the lowest scores win. Should one player make the cut
and the other miss it, the playing making the cut is deemed
the winner. If both players in the match-up miss the cut,
the player with the lowest 2 round score shall be awarded
the winner of the wager, if both players miss the cut on the
same score, the tie shall be deemed the official result.
18 Hole Match Betting - Player vs. Player: The player
with the lowest score is the winner. Similar to baseball,
both players need to "tee off" with at least one
swing in order for this wager to be considered action. Some
sportsbooks offer a "tie" as an option to bet. If
a tie happens, both players lose and the tie option is considered
the winner.
Should a tourney be delayed by weather or other circumstance,
the wager is active and live for one week from the original
scheduled date OR if played under the same tournament.
Who decides the golf odds and how?
The final fields for many events are not decided until the
day or two before the tournament starts as many of the big
names, who are exempt for most tournaments, wait until the
last minute until deciding to play.
Once the odds are set for each tournament they will be available
and on display. Odds for most tournaments are available by
Tuesday morning at the latest.
There are 3 main factors in setting the odds:
1. Current form - clearly, players who have been playing
well recently are quite likely to carry on playing well and
vice versa. The exception can be players who have won for
the first time. They will often suffer "mental letdown"
and should be avoided in the week after they have won.
2. Course form - some players often play well on a
certain course or a certain type of course, or even putt well
on a certain type of grass!
Others have positive mental associations with a particular
country in which they have played well before. Others seem
best at certain times of the year, some players need a couple
of weeks rest to be at their best. All of this gets factored
in to the odds.
3. Whom people will want to back - our opinion might
be that Tiger Woods is 10/1 to win the US Masters (it´s
not by the way!), but if we put up 10/1, we´d get knocked
over in the rush and sportsbooks would probably go bust if
they took all the money that people wanted to place at those
odds.
So if a sportsbook thought that Tiger was going to struggle
at Augusta, they´d probably price him at 5/1 - and still
take plenty of money, but we wouldn´t be risking the
whole company!
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