Masters Betting: Spieth has Bookmakers Nervous; Plus Odds, Trends and Promos

Jay Dieffenbach

The Jordan Spieth comeback, confirmed by two months’ worth of dramatic betting-line movement, is the biggest story at this week’s Masters.

Spieth, who hadn’t won since 2017, culminated his run of improving golf by winning last week’s Valero Texas Open.

It’s been a remarkable rise, given Spieth’s odds to win the Masters were +6600 as recently as Feb. 1.

Spieth caught the attention of the golf world with top-four finishes at the Phoenix Open and AT&T Pebble Beach Pro-Am in February.

His past seven starts in 2021:  T4, T3, T15, T4, T48, T9, Win.

Sportsbooks have fought their exposure, dropping Spieth’s number as low as +900 as of Tuesday.

Here’s a quick glance at Spieth’s odds since the COVID-delayed 2020 Masters was played in November, courtesy BetMGM:

  • Nov. 16: 66-1
  • Feb. 5: 50-1
  • Feb. 12: 20-1
  • Feb. 14: 16-1
  • March 8: 14-1
  • March 21: 12-1
  • April 4: 10-1

William Hill has him at +900, as co-favorite with defending champion Dustin Johnson, and a Spieth victory would not be good news for the bookmaker.

“Spieth is on fire, and he plays well there, and they were getting big prices on him at one point,” William Hill sportsbook director Nick Bogdanovich said in a Las Vegas Review-Journal story. “We’ll get pulverized if he wins.”

Spieth certainly knows Augusta National well, having sandwiched a victory in 2015 between a pair of runner-up finishes. He was third in 2018.

At the Wynn Las Vegas sportsbook, Johnson, Justin Thomas and Spieth were at +800.

When that market opened Nov. 15, Spieth was +7,000, making him a major – if you will — liability behind the Wynn counter.

"We have a lot of money that's been stockpiled on Jordan Spieth," Wynn sportsbook director Doug Castaneda told Covers on Monday. "There was a gold rush for Spieth. I wouldn't be surprised if he wins back-to-back weeks. But Spieth is a big number for us that we're trying to avoid."

According to numbers from BetMGM, Spieth is the most bet-on golfer to win the Masters, taking in 13.6% of the tickets and 17.5% of the handle. Johnson has 10% of the ticket, while Thomas has 8%.

Thomas, ranked No. 2 in the world, Johnson, Spieth and Bryson DeChambeau are virtually unanimous as the four betting favorites.

They’re also the money leaders at South Point.

“It’s always the biggest-bet tournament, which we’re very glad to see,” South Point sportsbook director Chris Andrews told the Review-Journal. “I think it’s going to be big again.”

The 85th Masters begins with an honorary starter ceremony involving Jack Nicklaus, Gary Player and Lee Elder, the first Black golfer to compete in the Masters. They start at 7:45 a.m. ET, with the first tee time at 8 a.m.

With a starting field of 88 players, the Masters will cut down to the top 50 and ties after 36 holes.

Johnson begins on Thursday at 10:30 a.m. along with England's Lee Westwood and reigning U.S. Amateur champion Tyler Strafaci.

Spieth, PGA champion Collin Morikawa and Cameron Smith go off last at 2 p.m.

Among some other notable groupings: Bubba Watson, Brooks Koepka and Viktor Hovland at 10:06 a.m.; Sergio Garcia, Webb Simpson and Christiaan Bezuidenhout at 10:18 a.m.

Xander Schauffele, Jon Rahm and McIlroy at 10:42 a.m.; Patrick Reed, Daniel Berger and Paul Casey at 10:54 a.m.; Phil Mickelson, Tommy Fleetwood and Scottie Scheffler at 1:12 p.m.

DeChambeau is with Adam Scott and Max Homa at 1:36 p.m., followed by Tony Finau, Louis Oosthuizen and Thomas at 1:48 p.m.

2021 Masters Trends and Insights

As a betting gauge, here is how the lines have moved at BetMGM:

  • Johnson: opened +600, now +900
  • DeChambeau: opened +1400, now +1100
  • Spieth: opened +6660, now +1100
  • McIlroy: opened +1000, now +1800
  • Koepka: opened +1400, now +2500

Does Bryson DeChambeau have something up his sleeve, or in his bag?

"Obviously there's something in the bag this week that's very helpful," he said Tuesday. "I won't go into specifics of it. But just know this has been a few years in the making, and I'm very excited for it. Whether it helps me perform at a higher level, I'm not sure, because it's golf and you never know what happens.

"Definitely what I've seen on the driving range and what I've seen the last week in practice, there's some tremendous benefits to it."

Sportsbook Promotions for the Masters

BetMGM sports bettors can wager $1 and win $100 if any golfer makes a birdie. Wins are paid in free bets. Check the app for more details and to opt-in.

BetMGM is also offering a Masters boost token. You can boost odds on a golfer by 15% with a max stake of $200. Also, when betting on the winner, find “Top 5 Player Insurance” at BetMGM: If the golfer you bet to win places second through fifth, you receive your stake back up to $25.

PointsBet, which offers a $250 first deposit match, has a pair of promos. With Top 10 insurance, all players receive up to $25 back in free bets when their player finishes in the Top 10 but doesn’t win the tournament.

PointsBet also offers multiple risk-free Masters bets. Each day’s first hole-by-hole performance wager is risk-free up to $25. If your first hole-by-hole bet loses, receive a free $25 free bet, meaning that you can bet up to $100 totally risk-free throughout the event.

FanDuel Sportsbook bettors who wager $50+ on a pre-tournament winner are eligible to receive an additional payout for every birdie/eagle scored by that player. This bonus can total up to $50.

FanDuel also is offering new users (every state they operate in, except Illinois) 20-1 odds on Johnson, Rory McIlroy or Spieth to make the cut. The offer is for a $5 max stake, which means you can win $100 if any of the three make it to the weekend at Augusta.

DraftKings Sportsbook. The sportsbook is giving users 100-1 odds (+10000) on any golfer of your choice to finish in the top 10 at The Masters. Dustin Johnson is listed at 1-1 odds (+100) to finish in the top 10.

Also at DraftKings: Fantasy Golf Millionaire is an offer for only $10, in which bettors draft six golfers for a shot to win a $1 million grand prize.

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