Tiger Woods, prop bets driving Masters wagers at Las Vegas sportsbooks
Doug Kezirian
4/4/18
<strike></strike><strike></strike><strike></strike>Doug Kezirian
4/4/18
Somehow one of the world's most famous athletes and best golfers of all time became an underdog and snuck up on Las Vegas oddsmakers, setting the stage for a historic Masters weekend.
"I can safely speak for most books that this is going to be the all-time highest-wagered Masters or any golf event in the history of our booking," Jeff Sherman, golf oddsmaker at the Westgate Las Vegas SuperBook, said on ESPN's "Behind the Bets" podcast.Tiger Woods is currently listed among the favorites at 12-1 odds. However, the Westgate and other sportsbooks opened Woods as a 100-1 long shot in August."
At that time, we didn't even know he'd be playing golf at this point," Sherman said of the 42-year-old and his multiple back surgeries. "He looked closer to retirement than he did for competing where he is today."
It takes significant action to gradually drive down 100-1 odds to its current form. Nearly all Las Vegas sportsbooks stand to lose considerably on Woods, who has not won a PGA tournament since 2013 or the Masters since 2005.
"He's at least double our second-largest liability," Sherman said, citing a potential six-figure loss and also reporting more tickets placed on Woods than any other golfer.
If not for the liability, Sherman said he would still post Woods at 18-1 odds, which is comparable to Jason Day and behind the top nine golfers.
Sherman recognizes that the four-time Masters champion is quite familiar with the course and also has golfed solidly in 2018.<strike></strike>"
Since he's been back and playing well, the interest has gone off the charts," said Golden Nugget sportsbook director Tony Miller. "If Tiger makes the cut, the handle might reach a high that future Masters might have a hard time matching."
Also driving interest are proposition bets. Bettors can wager on head-to-head matchups, such as Woods against Phil Mickelson or Dustin Johnson versus Rory McIlroy.
Other fun menu options include whether there will be a hole-in-one or whether a left-hander will win the green jacket. Sherman said he posted 100 proposition bets, compared to 40 for last year's Masters. The Westgate posted around 300 prop bets for this year's Super Bowl.Sportsbooks also will offer live wagering during the third and fourth rounds, allowing fans to bet on marquee players and leaders between holes.
"I can safely speak for most books that this is going to be the all-time highest-wagered Masters or any golf event in the history of our booking," Jeff Sherman, golf oddsmaker at the Westgate Las Vegas SuperBook, said on ESPN's "Behind the Bets" podcast.Tiger Woods is currently listed among the favorites at 12-1 odds. However, the Westgate and other sportsbooks opened Woods as a 100-1 long shot in August."
At that time, we didn't even know he'd be playing golf at this point," Sherman said of the 42-year-old and his multiple back surgeries. "He looked closer to retirement than he did for competing where he is today."
It takes significant action to gradually drive down 100-1 odds to its current form. Nearly all Las Vegas sportsbooks stand to lose considerably on Woods, who has not won a PGA tournament since 2013 or the Masters since 2005.
"He's at least double our second-largest liability," Sherman said, citing a potential six-figure loss and also reporting more tickets placed on Woods than any other golfer.
If not for the liability, Sherman said he would still post Woods at 18-1 odds, which is comparable to Jason Day and behind the top nine golfers.
Sherman recognizes that the four-time Masters champion is quite familiar with the course and also has golfed solidly in 2018.<strike></strike>"
Since he's been back and playing well, the interest has gone off the charts," said Golden Nugget sportsbook director Tony Miller. "If Tiger makes the cut, the handle might reach a high that future Masters might have a hard time matching."
Also driving interest are proposition bets. Bettors can wager on head-to-head matchups, such as Woods against Phil Mickelson or Dustin Johnson versus Rory McIlroy.
Other fun menu options include whether there will be a hole-in-one or whether a left-hander will win the green jacket. Sherman said he posted 100 proposition bets, compared to 40 for last year's Masters. The Westgate posted around 300 prop bets for this year's Super Bowl.Sportsbooks also will offer live wagering during the third and fourth rounds, allowing fans to bet on marquee players and leaders between holes.
