Outright Betting: The most popular type of wager for golf betting. This is a bet on one player to win the golf tournament. Golf odds are based around a $100 stake, or, wager amount. So if you bet $100 on a player who is +1000 (10:1) you will win $1000 and the payout, including your stake, will be $1100.
Top 5/10/20: Another traditional bet type. This is a wager on a golfer to finish within the listed position. If a player shares his finishing position, payout will be reduced according to the dead heat rules (see: below).
3-Ball*, 2-Ball and Match Betting: These are offered wagers typically based on the day’s pairings. 3-Ball offers usually occur on Thursdays and Fridays of the tournament, when the players go off in groups of three with 2-Ball offers traditionally taking place Saturday and Sunday. However, for larger events, special offers “Matchups” will often be made for both formats regardless of golfers being paired together. In the 2-Ball or Matchup format, if “Tie” is an option and you choose one of the golfers and they do shoot the same score, that bet will be graded a loss.
*In 3-Ball, if two golfers tie for best score your decimal odds will be divided by two to calculate payout. If all three shoot the same, your payout will be one-third the original odds. Unlike the dead heat rule, in “Head to Head” it is possible to be paid out less than the original stake.
SixShooters: Offer of group of six golfers, if your player shoots the lowest score you win. If your player ties for lowest score in the group, the payout is subject to the dead heat rule (below).
Each-Way Betting: This is an increasingly popular bet type. Here’s what you need to know: When selecting an Each Way (e/w) bet you are actually making two wagers. One for your player to win the tournament and another for that player to finish in the listed ‘place’ position. Note** The amount of money you wager on an e/w bet will be doubled to cover both bets. So if you want to spend $20 on the total bet, enter $10 in the wager amount, this way, you will have $10 on your player to win and $10 on your player to place. If your player wins the tournament outright you win both the Win and Place bets. If your player finishes inside the listed places, you will be paid the listed fraction of the win odds. See the example below.
Rory McIlroy is +1000 or 11.0 (decimal) listed win odds, you also play e/w at 1/5 1-2-3-4-5-6-7.
The 1/5 you see is the payout if he finishes 2-7 (second through seventh). And so, you will receive 1/5 (one-fifth) the win amount. In this case, that’s +200 or 2:1 or 3.0 decimal. Again, if McIlroy were to win, you would win both bets.
In an e/w bet, similar place betting (top 5,10,20 etc.) if your player shares his or her finishing position, your win is subject to a reduced payout. Each way payouts are calculated a bit differently than standard dead heat payouts. See below for examples of each.
Each Way (e/w) Payout for Shared Position: Using the example above, if McIlroy does not share his finishing position, say he places solo fifth, you’ll be paid 1/5 the win odds as described. But let’s say he ties for seventh with one other player. That payout would be calculated as follows:
11.0 (decimal odds) -1 unit (converts to fractional odds)= 10.00
10 x 1/5 (each way payout terms)= 2
2.00 + 1 unit= 3.00
3.00 divided by 2 (players sharing position)= 1.5*
*Here 1.5 is your payout amount. Remember, in an each way bet half your stake went on the win and half went on place (position) so only half your stake applies to this payout. If you wagered $20 ($10 on win $10 on place) the payout for this wager would be $10x1.5= $15.
Dead Heat Rule: This rule applies when two or more players share a finishing position. The payout is calculated as such: Stake (bet amount) divided by people in the shared finishing position multiplied by number of places available and the odds of payout.
Let’s look at an example from the 2019 US Open first round. Brooks Koepka was offered Top 20 at +150. This is 2.5 decimal odds. Decimal odds should always be used to calculate dead heat payout. Brooks tied with twelve golfers for 16th place, which is inside the top 20. But with so many players sharing the position, the payout was reduced as follows. Let’s say you wagered $50 this time at 2.5.
$50 divided by 12 players sharing the position: 50/12=4.166
Multiplied by positions available 5 (16th, 17th, 18th, 19th and 20th). 4.166x5=20.8333
Multiply that number by the odds (2.5) to get payout. 20.8333x2.5= $52.08
Injuries, Disqualifications, Withdrawing from event: If your bet is placed before Monday of tournament week the bet will stand regardless of bet type or reason the player does not start. If your bet is placed on, or after the Monday of tournament week and the player withdraws before starting, your bet will be void only if it is on Outright (winner) or Top Nationality. All other wagers should be considered action.