Golf has undergone a metamorphosis in recent years, emerging as a solid proposition for sports betting enthusiasts beyond golf fans. As the world's top golfers converge on the PGA Championship, another contest unfolds behind the scenes – a battle of wits, instincts, and calculations among bettors seeking to outsmart the odds and reap the rewards of their foresight.
In the history of mainstream sports betting, golf was once relegated to the sidelines, overshadowed by the allure of football, basketball, soccer and other mainstream sports. However, according to industry reports, a growth shift has occurred in recent years, propelled by the likes of DraftKings, FanDuel, BetMGM, shifting consumer preferences with the allure of the sport's inherent unpredictability.
As an individual sport that boasts a large field of competitors, surprises are common occurrences that entice gamblers with the prospect of selecting an unexpected winner.
In any tournament, the favoured contender may be struggling with their mental game, some days they just can’t find their groove, and then there are things like adverse weather conditions, all of these things can play a role in disrupting the bookie’s game plan. Such variables create a landscape ripe with opportunity in the minds of gamblers.
Conversely, team sports operate under a distinct dynamic. A subpar performance by one player can be offset by teammates which helps to keep the odds from fluctuating drastically.
How big is the Golf betting market in the U.S?
I’ve been digging around the internet and found it difficult to find up-to-date data to give us an accurate view of golf betting economics, however, a 2022 article from Golf News provides an idea of what the landscape might look like today.
In 2021, the global sports betting market was valued at $89.65 billion. The USA accounted for around $53 billion, or roughly 59% of this.
About 8.5% of this value was solely golf betting (if working on the figure of $4.5 billion for the year).
Typical estimates state that global betting on sports will grow to $114.34 billion by 2026. Using the exact percentages as 2021 and assuming that 59% of this will occur in the USA, this will equate to approximately $67.46 billion.
If we believe that 8.5% of this is golf betting, that translates into a minimum of $5.73 billion.
Now, according to an article from Fact.MR, the global sports betting market in 2024 is valued at $102.4 billion, assuming that Golf News is correct with 8.5% being the typical percentage attributed to golf betting from the US total of 59%, that would make the current US golf betting market approximately $5.134 billion, that’s a growth of approximately 4.74% between 2021 to 2024.
What are the most common bets in Golf?
For the most part, punters bet on tournament winners but other options are available.
Tournament winner – The most straightforward golf bet you can make. Decide who you think has the best chance to win the tournament. The odds generally reflect current form and ranking.
Top 10 finish – Bet on a player to finish in the top 10 of a tournament. There’s often also a Top 5 market, where the odds are higher. If a player finished Tied 10th then that counts!
Make the cut – Betting on players to make the cut (or fail).
As punters prepare to engage in betting for the upcoming 2024 PGA Championship, they will meticulously analyze player performance and expert insights to gain a competitive edge.
They will be scrutinizing the field to see if Scottie is striking the ball well in practice, considering if Rory’s personal life hitting the news has affected his mental game (positive or negative), and they’ll be studying expert insights to identify who might be the surprise performers over the course of the tournament, anything for a winning edge.
Here’s how MGMBet has the odds for an outright winner.
There are also some platforms that allow for Live Golf Betting, this includes but not limited to:
Round score – Bet on a player to shoot a certain score during their round. Odds fluctuate as the round progresses.
Hole-in-one – Will there be a hole-in-one during the tournament? This is often saved for courses that have three or more Par 3 holes.
When it comes to tournaments like the Ryder Cup, there are other options available:
Correct score – You can bet on the final score throughout the three days of competition.
Match play bets – Bet on individual matches, who will win, what the score will be, and even go hole-by-hole.
Sunday Singles – Ryder Cup Sunday singles betting is perfect for the over/unders market.
For bettors, major tournaments like the PGA Championship represent more than just a showcase of golf– they are events filled with opportunity and intrigue. The weeks leading up to these marquee events are full of activity, as odds fluctuate in response to player form, injury updates, and shifting narratives. As the tournament unfolds, bettors ride their fortunes (and sanity) ebbing and flowing with each stroke of the club.
I’m not a big gambler but I will have a flutter on the occasional big event for a bit of fun. If you gamble, please do so responsibly.
That’s all for this week, don’t forget to reach out to Baller Golf on X/Twitter
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