How Sportsbooks Manage Tiger Woods’ Ever-Changing Masters Odds
Tiger Woods’ odds place him as the favorite to win next week’s Masters. That’s from being a 100-1 shot as late as December last year. This rush to lay down some cabbage on Woods is causing Vegas sports books to constantly alter the betting lines.
MorningRead.com’s Steve Elling talks with one noted handicapper on how Tiger moves the wagering needle more than any other player.
Jeff Sherman, the longtime golf oddsmaker at the Westgate Las Vegas SuperBook, watched in December as a stunningly nimble Woods played at the Hero World Challenge. Sherman was forced to make repeated calls to the casino office to tweak Woods’ odds at the Masters.
“He’s the only guy in golf who keeps me on my toes on my day off,” Sherman said from Las Vegas on Wednesday.
“I’ve never felt more anticipation for a Masters than there has been for this one,” said Sherman, a 25-year veteran of the gaming industry.
As usual, Woods leads the way in dollar signs. Sherman actually was slashing the former world No. 1’s odds to win at Augusta during live rounds in the Bahamas, because the casino immediately began receiving Masters bets at 50-1, where Woods’ betting line began the week.
“That’s the thing with Tiger. Any other golfer, it takes the whole tournament, or at least until the end of the round, to make an adjustment,” Sherman said. “With him, we’re making changes after five holes.”
Las Vegas is more financially exposed on Woods than any other player. In terms of the number of betting tickets issued, Woods’ name ranks first, followed by Mickelson, Rickie Fowler, Justin Thomas and Bubba Watson.
“I think a lot of people bet Tiger because he has been good to them, and with his play slipping and the ability to get some higher odds, why not place a bet on him and hope to rekindle some of the magic of his glory days?”
Yet Tiger hasn’t won a Masters since 2005. So while he does finish consistently in the top-10, it still appears to be a sucker’s bet until he breaks the winless streak. That said, I suppose his fans will continue blowing cash on him to hopefully catch a victory–just in case.
