Tiger Woods Masters Victory Major Loss for Sportsbooks, Bettor Wins $1.19M

Posted on: April 15, 2019, 02:00h. 

Last updated on: April 16, 2019, 08:19h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

Tiger Woods won his fifth green jacket on Sunday, and the 15-time major winner’s storied comeback delivered oddsmakers a devastating result.

Tiger Woods golf odds PGA
Tiger Woods is once again Masters champion. (Image: Andrew Redington/Getty)

The most notable bet was an $85,000 wager made through William Hill at 14/1 odds. With Woods’ victory Sunday, the ticket slip became worth $1,190,000. The sports betting operator said the wager was placed at the SLS Casino in Las Vegas.

William Hill exec Nick Bogdanovich said it was the first time the person placed a bet with the company. “Pretty good first bet,” he told ESPN.

It’s great to see Tiger back. It’s a painful day for William Hill – our biggest loss ever – but a great day for golf,” Bogdanovich explained.

The Westgate SuperBook reported a high five-figure net loss. The Las Vegas casino took a $10,000 bet in February at 12/1 odds that paid $120,000.

“I thought he had a chance to be competitive,” SuperBook golf oddsmaker Jeff Sherman stated. “But I’m a little surprised by him winning, especially with the competition he faced. I said before the tournament that if you took the ‘Tiger Woods’ off, you’d have a golfer with the statistics of someone at 25/1 odds.”

Sports Bettors Win

FanDuel, the daily fantasy sports provider that has transitioned into full sports betting following the US Supreme Court’s repeal of the federal ban last May, said it shelled out more than $3 million in winnings following Woods’ donning of another green jacket.

“It’s not a fantasy. FanDuel group pays out more than $3 million on Tiger’s win at the Masters,” a statement from the company read. The sportsbook said all customers who entered the $1M Mega Eagle Daily Fantasy contest would see their entry fees refunded this morning, as was promoted should Woods win at Augusta National.

FanDuel revealed that 10 percent of all outright Masters bets were on Tiger prior to the first round of play. As Woods soared to the top of the leaderboard, handle on him only increased, and by Sunday the sportsbook said 21 percent of the money was on the game’s great. Brooks Koepka, who finished in a tie for second with Dustin Johnson and Xander Schauffele, attracted the second most money, according to FanDuel.

Looking Ahead

With Woods once again on top of the sport – he’s now ranked No. 6 in the world, up six spots following the win – oddsmakers are adjusting their odds on the three remaining majors.

In the reshuffled schedule, the PGA Championship is the second major of the year, and will be played at Bethpage State Park in Long Island, New York. Woods knows the course well, and has enjoyed plenty of success on the public track.

Tiger won the 2002 US Open at Bethpage by three strokes. He finished T6 when the USGA championship returned there seven years later. As for the 2019 PGA, Woods is the favorite at 8/1. DJ is next at 10/1, followed by Rory McIlroy and Justin Thomas at 12/1. Koepka rounds out the top five at 14/1.

Woods is also the early 2020 favorite to defend at the Masters. His odds of winning a sixth green jacket to tie Jack Nicklaus are at 8/1.