As the PGA Tour returns Thursday after a nearly three-month shutdown due to the spread of the coronavirus, so does betting on the PGA Tour. How can you cash in? Let this series help. Part I is here. Part II is here.
On the course, Brooks Koepka will end up with one action. Hit the golf ball.
Through various wagers, a bettor could end up with a lot of action.
Is Koepka’s shot going to move him closer to winning the tournament? Will it move him closer to placing in the top 10? Will it help him defeat the entire field for just that day? Is Koepka’s shot going to help him defeat just Justin Thomas? Is Koepka’s shot going to help him defeat both Thomas and Jon Rahm? Is Koepka’s shot going to improve his odds for the round he’s in? Will it improve his odds for rounds in the future? What if he makes a hole in one with his shot? (The hole in one might actually be a magic bullet in this example.)
To-win, place, daily, matchup, group, live, futures and prop bets all return Thursday as the PGA Tour resumes play at the Charles Schwab Challenge. Each has its own personality. Each has its own risk and reward.
The types of golf bets
To-win bet
The classic bet. You think Koepka will win the tournament. You bet him to do so. The odds to win this wager are long, as the real-life probability to win a tournament is also quite steep. At DraftKings, Koepka is currently at +2,200, meaning they believe he has a 22-1 shot of winning. High odds also means a high payout. If you bet $100 on Koepka, you could win $2,200. Quick summary: Big risk. Big return.
Place bets
Similar to above, though the odds come down a bit. You think Koepka will place in either the top five, 10 or 20. The odds to win this wager are lower, as the real-life probability to finish in these ranges is easier. Lower odds, though, means a lower payout. Quick summary: Lower risk. Lower return.
Daily bets
Also similar to above. You think Koepka will be the top player just for either the first, second, third and fourth rounds. The odds tend to be a bit different than the to-win bet, as a player ebbs and flows as the tournament progresses. There’s also the benefit of not having to wait four days to see if you’re a winner. Quick summary: Decent risk. Decent return.
Matchup bets and group bets
Are you used to betting one NFL/NBA/MLB team to beat another NFL/NBA/MLB team? This might be your wager. In a matchup bet, you think Koepka will beat Thomas. One “team” against another “team.” In a group bet, you think Koepka will beat Thomas and Rahm. The matchup will set the odds. The Koepka-Thomas matchup – 3 vs. 4, if you are using the world rankings – is a tough one. As is the Koepka-Thomas-Rahm group – 3 vs. 4 vs. 2. Quick summary: Average risk. Average return.
Live bets
The tournament started at 8 a.m. You woke up at noon. You’re not too late. Or your bet has fizzled. You want a new player. All good. In a live bet, odds adjust as the tournament progresses that day. Did Koepka get a few unlucky bounces over the first six holes? Might be time to bet. Quick summary: The betting is live, and I’m ready to wager.
Futures bets
Futures bets. As the name implies, you’re betting into the future. You think that Koepka will win the Masters. Which will be played in November. A futures bet gives you something to hold onto for a while. It allows you to watch your bet grow. Quick summary: Will patience pay off?
Prop bets
You think Koepka will make a hole in one. Or make the cut. Or shoot above or below a certain number. The odds depend on the real-life probability. For The Match: Champions for Charity, there were over 40 prop bets at DraftKings. Quick summary: Let’s get crazy.
