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Tiger Woods is promising a payout of $80 for every $10 bet should he go on to win the 2019 PGA Championship this May 16-19.
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Woods stunned sportsbooks with his first majors win since the 2008 U.S. Open. It was the biggest futures loss in the 20 year history of BetOnline.
By now you've all heard the stories. Nearly a quarter of all futures bets were on Tiger. FanDuel had to pay out more than $2 million. William Hill took a $85000 bet on Tiger to win at 14-1 odds and now must pay out $1.2 million to that lucky gambler. And after Dave Mason of BetOnline announced his company's record futures losses, the Westgate in Vegas confirmed they, too, had their biggest futures loss.
Tiger Woods story is a remarkable one that is likely to result in this year's Players Championship being among the most wagered on ever. Weeks ahead of the tournament, bookmakers report heavy action already.
Doctors say Woods knee troubles were likely linked to his back problems and cite the golfer’s resolve for his remarkable recovery from spinal fusion surgery.
“Knee injuries are often one of the first injuries we see in golfers,” Dr. Alpesh Patel, chief of orthopedic spine surgery at the Northwestern Memorial Hospital, in Chicago said. “Once their mechanics are off, then we’ll see back injuries secondarily. So, it’s not uncommon that in Tiger’s story we saw a chain link between one and the other.”
Despite the sob stories from sportsbooks, nobody needs to shed any tears. A quarter of all futures props being paid out on Tiger simply means 75% of all remaining futures were on a loser. We would be remiss in noting that the winning bets paid upwards of 18 times the initial amount wagered though.
His win also means an increased interest in betting on golf, and more futures wagers than ever will be placed on Woods. The later is bad for the books should that number move beyond half the action, assuming he wins. The odds of that happening are not particularly good.
Below are the early 2019 PGA Championship odds and payout potentials.
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PGA Championship odds, Bethpage Black, May 16-19 (Westgate SuperBook) Tiger Woods 8/1 - Payout $80 for every $10 bet Dustin Johnson 10/1 Rory McIlroy 12/1 Justin Thomas 12/1 Brooks Koepka 14/1 Rickie Fowler 18/1 Jon Rahm 18/1 Justin Rose 18/1 |
- Mary Montgomery, Gambling911.com
