Masters Odds: Matsuyama Makes Major Money for Long Shot Bettors


Patrick Everson
Clock Icon Apr 12, 2021 - 10:29 AM ET

The 2021 Masters turned from a runaway into some nervy moments as the sun drew low on Augusta National but, in the end, final-day favorite Hideki Matsuyama got the job done.

Heading into Sunday, most sportsbooks had Matsuyama in the -120 to -125 range on the Masters odds board. The Japanese star, who got as high as +6,000 odds pre-tournament, more than lived up to it, adding to his four-shot lead while stretching out to as much as a -6,000 live-betting chalk.

But the in-play odds to win the 2021 Masters got a lot more interesting on the 15th hole, when Matsuyama flew the green and ended up in the drink. However, Xander Schauffele found the rinse cycle on No. 16, spoiling his chances, and youngster Will Zalatoris ran out of holes to catch up.

Matsuyama topped the Masters field with a 10-under 278 total, one stroke ahead of Zalatoris.

Matsuyama wins Masters as betting long shot

When Matsuyama got to 13-under par midway through the final round of the Masters, most sportsbooks were close to calling it a day on in-play wagering. The Japanese standout was as much as a -6,000 favorite at The SuperBook.

But he stumbled hard on 15 with a ball in the water way behind the green. However, he managed a bogey, giving back as little as possible, and it proved necessary. Xander Schauffele birdied the 15th, his fourth straight birdie, to quickly trim a four-shot deficit to two and zip right back into contention.

Then on the par-3 16th, Schauffele found the drink and ended up with triple-bogey 6, ending his hopes, even though Matsuyama carded a bogey 4. That left as the last challenger Will Zalatoris, who got in with a 9-under 279 as Matsuyama prepared to play the par-4 18th hole

Matsuyama played it smart and safe, recording bogey for a one-stroke victory that suited most oddsmakers just fine.

"Matsuyama is super good," William Hill US director of trading Nick Bogdanovich said pre-round Sunday morning. "In Nevada, there were close to 1,000 tickets on him. So a lot of people (had) him. But it's the Masters. There's a ton of money in the pool."

And there was much more liability to other golfers, most notably Jordan Spieth, who ultimately settled for a tie for third, three shots back.

Neil Fitzroy, risk manager for The SuperBook at Westgate, said Saturday night that Matsuyama was not the best outcome for the book but was certainly a good one. The SuperBook just wanted to avoid Spieth and Schauffele, who tied for third with Spieth.

Nobody really bet much on Matsuyama, which is why his odds dove from +4,000 to +6,000 pre-tournament at The SuperBook.

"We took a couple of $100 bets at 60/1," Fitzroy said, adding that there were no other notable big payouts looming, just an accumulation of tickets and money on Spieth and Schauffele.

Masters odds over time

Check out Hideki Matsuyama's rise to the top of the odds board, from his pre-tournament odds until his clinching putt on Sunday. 

2022 Masters odds

Player Opening odds
Dustin Johnson +1,200
Jon Rahm +1,200
Jordan Spieth +1,200
Justin Thomas +1,200
Bryson DeChambeau +1,600
Rory McIlroy +1,600
Xander Schauffele +1,800
Brooks Koepka +2,000
Patrick Cantlay +2,500
Collin Morikawa +3,000
Hideki Matsuyama +3,000
Patrick Reed +3,000
Tony Finau +4,000
Will Zalatoris +4,000
Viktor Hovland +4,000
Cameron Smith +4,000
Webb Simpson +5,000
Daniel Berger +5,000
Tiger Woods +6,000
Tyrrell Hatton +6,000
Scottie Scheffler +6,000
Corey Conners +6,000
Paul Casey +6,000
Tommy Fleetwood +6,000
Matthew Fitzpatrick +6,000
Sungjae Im +6,000
Justin Rose +6,000
Joaquin Niemann +8,000
Adam Scott +8,000
Jason Day +8,000
Louis Oosthuizen +8,000
Marc Leishman +8,000

Odds courtesy of the SuperBook.

Masters betting odds history

Let's take a look at some recent Masters champions and their closing odds to win:

Year Masters Champion Closing Odds
2021 Hideki Matsuyama +5,000
2020 Dustin Johnson +800
2019 Tiger Woods +1,200
2018 Patrick Reed +4,000
2017 Sergio Garcia +3,000
2016 Danny Willett +5,000
2015 Jordan Spieth +1,000
2014 Bubba Watson +2,000
2013 Adam Scott +2,500
2012 Bubba Watson +3,000
2011 Charl Schwartzel +10,000
2010 Phil Mickelson +1,000
2009 Angel Cabrera +12,500
2008 Trevor Immelman +15,000
2007 Zach Johnson +12,500
2006 Phil Mickelson +800
2005 Tiger Woods +350
2004 Phil Mickelson +1,200
2003 Mike Weir +3,000
2002 Tiger Woods +200
2001 Tiger Woods +150
2000 Vijay Singh +1,800

Odds via sportsoddshistory.com

Masters winners trends

Note that no pre-tournament betting favorite has won the Masters this decade. Schwartzel was the biggest long shot to win when he surprised the golfing world back in 2011. Most recent winners fall in the +1,000 - +3,000 range. 

There also hasn't been a repeat champion at the Masters since Tiger Woods won back-to-back tournaments in 2001 and 2002. Only three golfers since 2000 have won the event twice in three years (or less): Woods, Bubba Watson (2012 and 2014), and Phil Mickelson (2004 and 2006).

Another trend worth noting is the age of recent Masters winners: Before Woods won in 2019 at age 43, the previous 13 winners had all been under the age of 40 at the time they won. Dustin Johnson (36) continued that trend in 2020, as did the 29-year-old Matsuyama. 

How to bet on golf

The Masters is the most bet golf event of the year, so naturally, there are many who will be placing their first golf bets on the tournament. If that happens to be you, we've got you covered with our beginner's guide to how to bet on golf.

The most popular way to bet on golf is by simply picking the winner, which is also referred to as an outright. There are plenty of other ways to wager, however, including top finishes, head-to-head matchups, and plenty of props.

Where can I bet on the Masters?

You'll find Masters betting options at pretty much every online sportsbook in the world. Most sportsbooks will allow you to bet on the winner of the next Masters tournament for most of the year, with odds changing throughout the year due to current form and injuries. Once the Masters field is set, sportsbooks will open more betting markets. 

If you're looking to place a bet on the Masters, take a look at the best golf betting sites available in your area.

Masters Odds FAQs



Covers Contests Icon

Free Contests

Test your handicapping skills for a chance to win over $200,000 in prizes
Play free contests

Covers 25 Years Logo Established in 1995,
Covers is the world
leader in sports
betting information.
Covers is verified safe by: Evalon Logo GPWA Logo GDPR Logo GeoTrust Logo Evalon Logo