Masters Betting Odds & Favorites 2024: Rahm Favored Over Scheffler to Repeat in 2024

Jon Rahm captured his second major championship and first Green Jacket at the Masters in 2023. With a new golf season underway, it's no shock to see Rahm favored at +750, followed by 2021 champion Scottie Scheffler at +800.

Feb 14, 2024 • 16:11 ET • 5 min read
Jon Rahm Scottie Scheffler Masters Tournament
Photo By - USA TODAY Sports

Another wonderful Masters week spent at Augusta National is in the books, with Jon Rahm claiming his first Green Jacket and second major title with a dominant final-round performance. 

With the major championship season complete following Brian Harman's domination of Royal Liverpool, 2024 Masters golf odds have already hit the board — and it's a trio of usual suspects leading the pack.

We break it all down and more in our opening odds update for the 2024 Masters below.

Odds to win the 2024 Masters

This odds widget represents the best odds available for each betting market from regulated sportsbooks in your region. 

Favorites to win the 2023 Masters

Jon Rahm (+750 to +900)

So many believed Rahm's game was a great fit for Augusta National and that a win here was inevitable. Win was exactly what he did in 2023 after completing a miniature final-round comeback. 

That marked his fourth victory of the 2022-23 PGA Tour season and second career major title (2021 U.S. Open). As such, seeing him atop the board for next year's Masters at a rather short +750 price should come as a shock to no one. 

Scottie Scheffler (+800 to +900)

Scheffler had the ball-striking needed to contend here in 2023 but his putter wouldn't cooperate and that's what ultimately held him back from defending his 2022 Masters title. 

Despite the struggles on the green, the World No. 1 finished T10 and remains Rahm's biggest threat in 2024 until further notice.

Rory McIlroy (+800 to +900)

No matter which way you slice it, Rory's week at the 2023 Masters was an incredibly massive disappointment. 

He missed the cut by a handful of shots, allowing another opportunity at the major championship grand slam to pass him by. Will 2024 be the year he gets over the hump?

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Masters recent winners and odds history

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

Year Golfer Closing odds
2023 Jon Rahm +900
2022 Scottie Scheffler +1,800
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 courtesy of SportsOddsHistory.

Masters betting trends

Only one pre-tournament betting favorite or co-favorite has won the Masters since Tiger Woods won in 2005 as a +350 favorite. Schwartzel was the biggest longshot to win when he surprised the golfing world back in 2011. Most recent winners fall in the +1,000 to +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), Hideki Matsuyama (29), Scottie Scheffler (25), and Jon Rahm (28) have continued that trend over the last four years. 

More major championship odds

Event Favorite Odds
PGA Championship Scottie Scheffler +800
U.S. Open Scottie Scheffler +800
The Open Championship Rory McIlroy +800

Odds courtesy of bet365 as of Feb. 7, 2024.

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 referred to as an outright. There are plenty of other ways to wager, however, including top finishers, head-to-head matchups, and plenty of props.

Masters Odds FAQs

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