The US Masters starts this Thursday at 2pm UK time!
Some bookmakers are running extra place offers, including SkyBet, William Hill, Paddy Power and Bet365 all paying out the top 8 places!
Note these bets need to be placed before Thursday 1pm.
This is a profitable opportunity for matched betting, though I recommend this only for experienced matched betters given it does require quite a large liability at the same time as the Grand National.
Golf Masters: Each Way Bets Explained
With an 'each way' bet, you are backing a golfer twice, once to win and once to come in the top 5 places.
For example, if I place a £10 each way bet (£20 total stake) on Dustin Johnson to win the Masters, I am placing two bets:
£10 bet on Dustin Johnson to win (odds 6.5)
£10 bet on Dustin Johnson to come top 5 (odds 2.375)
I can then lay off Dustin Johnson on either Betfair or Smarkets for small trigger bet loss, due to the lay odds being higher than the bookmaker back odds.
Golf Masters: Special Offers Explained
As a special Masters offer, some bookmakers will pay out if the golfer finishes in the top 8!
This means if our chosen golfer(s) finish 6th, 7th or 8th, we win both our each way bookmaker bet (because the golfer has finished in the top 8) and each way lay bet (because the golfer has finished in the top 5) for a very tidy profit!
This is not risk free as our golfer(s) may not finish 6th, 7th or 8th and so will end out with our small trigger bet loss.
How To Choose The Golfer(s)
There isn't a Golf Matcher yet but you can manually check the Oddschecker market.
I will be looking at SkyBet, Paddy Power, William Hill and Bet365 as these bookmakers are all offering top 8 places, plus Coral and Stan James offering 7 places.
For each of the best golfers, see which bookmaker has the best odds (these are on bold and underlined) and this help to keep your trigger bet loss low.
Note change the odds to decimal odds on OddsChecker.
So for example Dustin Johnson is 8.0 (at the time of writing) on Stan James so I will now check the lay price.
How To Lay Golfers
Continuing the example of betting each way on Dustin Johnson on Stan James at 8.0, I now check:
Smarkets market (scroll to the lower half for the Top 5 market)
Betfair market (click Top 5 along the upper tab for the Top 5 market)
I can see here the lay odds are 7.6 on Johnson to win and 2.64 on Johnson to come in the top 5.
Entering this into the OddsMonkey Each Way Calculator with a £10 EW (total £20 stake) as an example:
I have entered in the above calculator screenshot:
Odds: 8.0 (Stan James odds)
Stake: 20 (total stake, being a £10 EW bet)
Place payout: 5 (Stan James EW odds are 1/5, see the below FAQ for more details)
Lay Odds: 7.6 and 2.64 from Smarkets
The above screenshots shows I will place a £10.55 lay bet at 7.6 odds (£69.66 liability) and a £9.16 lay bet at 2.64 odds on Dustin Johnson to come Top 5. This gives me a 68p trigger bet loss.
If Dustin Johnson finishes 6th or 7th, then:
Stan James: We win our £10 EW place bet for £10 x 1.4 = £14.00
Smarkets: We win our £9.16 lay bet for £8.98 after commission.
This gives us a potential £22.98 profit if Dustin Johnson comes 6th or 7th with only a 68p trigger bet loss.
Overall, I will be looking to back around 5 golfers and hopefully one of them will come 6th, 7th or 8th (on those bookmaker paying out Top 8).
FAQ: How Are The EW Place Odds Calculated?
You don't have to know this in order to place your bookmaker bet and lay bet, but it's still helpful to know!
The bookmaker gives either 1/4 or 1/5 of the fractional odds for the golfer to win, as the odds for the each way place odds (Top 7 or Top 8).
Taking the example above, Dustin Johnson has 8.0 decimal odds (which is 7/1 fractional odds as you subtract 1 to get fractional odds) on Stan James that gives 1/5 odds. Therefore:
(7 / 5) = 1.4
We then add back the 1 to return to decimal odds, so 1.4 + 1 = 2.4.
Note SkyBet are the only bookmaker giving 1/4 odds whereas every other bookmaker that is paying Top 7 or Top 8 are giving 1/5 odds.
FAQ: Which Bookmakers Are Giving Each Way Odds?
You can see this along the bottom of the OddsChecker market (see screenshot above) or in the OddsMonkey forum thread (see below).