Augusta National throws open its gates once more in April 2026 as the Masters – golf's most prestigious major – gets under way. The green jacket is every golfer's dream, and for bettors the tournament offers excellent markets across the week. In this preview we run through the leading favourites, the best each-way picks and the betting markets where value can be found.
Scottie Scheffler – The overwhelming favourite
Scottie Scheffler is the world number one and the clear pre-tournament favourite for the Masters 2026 at odds of around ~2.50. The Texan has played Augusta's demanding course superbly in recent years and knows that winning takes patience and precision, particularly on the approach shots to the Par 3s. Scheffler's strength is the consistency of his putting – on Augusta's fast greens, that often decides the winner.
Scheffler's price is so short, however, that a straight outright bet returns rather little. He is better considered in the top 5 or top 10 markets, where the odds are more reasonable relative to the probability. Another option is an accumulator with Scheffler as one of the legs.
Rory McIlroy – The hungry challenger
Rory McIlroy is finally chasing his career's fourth major title and the completion of the Grand Slam. The Northern Irishman is priced at around ~5.00, which offers excellent value if he can handle the Masters pressure. McIlroy's long game suits Augusta, but the short game is the key to success. Since his 2024 win, McIlroy has played more consistent golf than at any earlier point in his career, which adds to the appeal of the each-way pick.
Dark horses – value bets from the top-20 list
Augusta often rewards players who already know the course. Jon Rahm, Collin Morikawa and Xander Schauffele are all in the 12.00–20.00 odds range, and Rahm's clay-court-style game in particular suits Augusta's challenging greens. Among the Asian players, Hideki Matsuyama is always dangerous at Augusta, and his odds usually sit around 25.00 – a classic each-way pick.
The basics of golf betting
Major tournaments are among the most interesting golf-betting events, thanks to the large field and the long duration. The best strategy is to spread your bets across several players rather than putting everything on one card. There are around 90 players in the field, so even a clear favourite rarely has more than a 20–25% chance of winning. That means a pure outright bet is only worth considering if the odds clearly exceed the true probability.
Why is each-way the best bet type for the Masters?
The each-way bet is one of the most important tools for the golf bettor. The bet is split into two parts: half the stake goes on the win and half on the place (usually top 5 or top 8, depending on the bookmaker). The place odds are calculated using a fraction of the win odds (usually 1/4 or 1/5 of the original price).
In practice this means a player at 20.00 can return around 4.75 from a top 5 finish alone. At the Masters, where the leaderboard is often tight, this is a considerably safer way to back big prices – and far more sensible than chasing the win alone.
4 tips for Masters betting
- Play "each-way" – you win from a top 5 finish too, not only from the win
- Study Augusta's history – certain player types succeed at the course time and again (long hitters, accurate putters)
- Follow the practice rounds – the week's practice results are a good predictor of tournament performance
- Live bet on Thursday – after the first round the odds sharpen and offer further opportunities
- Avoid the invitees – top amateurs and special invitations almost always finish below the cut line
- The weather forecast matters – Augusta's wind conditions can turn Saturday's play completely on its head
The most popular golf betting markets at the Masters
Tournament winner: the classic, but only about 1% of the field has more than a 10% chance of winning. The favourites' odds run 2.50–5.00, so value here demands strong analysis of your own.
Top 5 / Top 10 / Top 20: the most realistic markets – the odds shorten, but the strike rate rises. A top 10 bet on Scheffler at ~1.75 is often better than the outright.
Head-to-Head pairings: a one-on-one duel between two players over the same round. Easy to analyse thanks to the small field, and offers odds in the 1.80–2.20 range.
Cut yes/no: will the named player make the weekend cut? A solid bet type whose odds are based on the player's season stats.
Round leader: who leads after Thursday? Offers high odds (15.00–40.00), because in a field of 90 a single player holding the lead is rare.
Summary
Masters Augusta 2026 is the most important golf-betting tournament of the year. Scottie Scheffler is the clear favourite, but his short price makes a straight outright less profitable than the top 5/10 market. Rory McIlroy and Jon Rahm are the best each-way picks at 5.00–15.00. The most important tip: spread your bets, exploit the each-way structure, and follow the practice-day performances before the tournament begins. The long, four-day tournament rewards careful analysis – and extends the productive rakeback value of your betting volume.