An insight into my golf analysis process and key indicators to identify success.
Golf betting can be tricky. The majority of fields have 140+ golfers to chose from, every week there is a different course to study, and it is perhaps the sport most exposed to the elements.
However, this also presents opportunity. With a large number of variables and potential players to select, bookmakers often have a tough time correctly setting golf markets. Likewise, daily fantasy golf providers often produce misprices.
In this article, I will provide a brief overview of my process. I provide some of the tools and key indicators I use to select my golf betting tips. Find out below why I am banned by multiple bookmakers.
2022 Golf Bets Tips Record
16 outright winners
DP World Tour +24% ROI
PGA Tour +26% ROI
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Key Golf Betting Terms
This article works in conjunction with our “Golf DFS 101: How To Win More At Golf DFS” article. If you have not read that article yet, you can find it here.
Before we get started on some of the processes I use, there are some key terms we need to know.
How are odds displayed for golf betting?
There are three main ways to display betting odds: decimal odds, fractional odds, and American odds.
In decimal odds, the amount is the total amount returned for every $1 bet. A $1 bet at odds of $10.00 will return $10.00. This is your original $1 stake plus $9 of profit.
In fractional odds, it is a ratio such as 14/1 (fourteen-to-one). They represent the profit won if the bet cashes. A $1 bet at those odds would return $15, being $14 of profit and the original $1 staked.
American odds vary whether a +/- sign is in front of the odds. Odds with a positive sign in front indicate the profit won on a $100 bet. +700 indicates that a bet of $100 will return $800, being the original $100 staked and $700 of profit.
If there is a negative sign in front of the number, this indicates the amount you would need to bet to win $100 of profit. Odds of -200 mean you would bet $200 to win $300 ($100 of profit plus the original stake). You will not often find these odds in golf pre-tournament other than in match-ups between two golfers.
Being based in New Zealand, I tend to use decimal odds when I provide my golf betting tips. I also denote my bets in units or points (pts). This means you can invest the amount that you feel comfortable spending.
What are the main types of golf bets I can make?
There are a few main markets that make up the majority of golf bets.
Outright Winner: Does what is says on the tin. You are betting the golfer to win the tournament.
Top Finish: Betting on a golfer to finish within specified number of places from the top of the leaderboard. Most bookmakers will release Top 5, Top 10, and Top 20 markets for each tournament. Many will even offer Top 30 or Top 40 markets, which can be a good option for betting outsiders.
Be aware that most bookmakers will apply dead-heat rules to such bets. This means if you place a Top 10 bet and your golfer ties for 10th exactly with 4 other golfers, your odds will be divided by 4.
Match-Up Bets: These bets typically pit two golfers against each other. They can be placed across the entirety of the tournament or occasionally for a single 18 hole round.
Prop Bets: Of course, there are also a large variety of prop (short for proposition) bets to investigate. For example, will there be a hole-in-one at the tournament? It is best to avoid these, especially when you first start in golf betting. They can be fun, but also are more unlikely to be predictable nor profitable.
What are Each-Way Golf Bets?
Many bookmakers, especially outside of the USA, will offer each-way (E/W) bets for golf. This bet actually consists of two bets: the golfer to win the tournament and the golfer to place. The place terms are always displayed. The most common place terms currently are 5 places at 1/4 odds and 8 places at 1/5 odds. Note that dead-heat rules will also apply if your player ties for the exact number of places on offer.
These provide great value and present you with better place odds compared to a typical top finish market. Think of it as a reward from the bookmaker for also making a win bet alongside your place bet.
For example, you pick Rory McIlroy to win a tournament. You take him at $20.00 E/W with place terms of 5 places at 1/4 odds. If McIlroy wins the tournament, you would collect both the win bet and the place bet. However, say McIlroy finishes in 3rd place. You would then win the place portion of your bet. In this instance, $20.00 divided by 4 would return place odds of $5.00. However, pre-tournament his Top 5 finish odds may only have been $3.50. You gave yourself the opportunity to cash an outright win ticket, but also were rewarded with better place odds as a result.
What is Implied Probability?
Implied probability converts betting odds into a percentage. It indicates what the bookmakers believe to be the chance of a result occurring. You can calculate implied probability using the following formula:
(1/ decimal odds) * 100 = implied probability
There are also various websites that will perform this calculation for you.
For example, the odds for Jon Rahm are $20.00 (19/1 or +1900) to win a particular golf tournament. The bookmakers are saying they believe Rahm has a 5% chance to win the tournament.
What is Expected Value?
Every time you place a bet, your selection has an “expected value” or “EV”. In short, this indicates what you can expect the bet to win (or lose) if made over a long time frame at the same odds. A positive EV bet is a winning play. We expect it to return a positive amount over the long-run if made time and again. Conversely, a negative EV bet is one we expect to lose over time.
Tip 1: Look to bet value and think long-term
The biggest golf betting mistake I see is trying to pick the winner every week. This may seem slightly counter-intuitive at first. I mean, we want to pick winning golfers, right? The fact is, you can make a bad bet and win money. You can also make a good bet and lose money. Let me explain.
Pre-tournament, you decide that given your analysis Justin Thomas will play well this week. You place a outright win bet on him to win at odds of $40.00. This bet has an implied probability of 2.5% or one-in-forty times.
Negative EV
Say that the correct chance for Justin Thomas to win was 2% or one-in-fifty times. Whether Thomas wins or loses the tournament is actually irrelevant. This is a negative EV bet. The more times that you place the bet, then the more times you will lose than win over time. Even if Thomas does win the tournament, you still made a negative EV bet.
Positive EV
Let’s look at the opposite. Say that you know Thomas has been working with a new swing coach, he recently shot a low round at a similar style of course, plays well in the wind and you can see in the forecast strong winds are forecast. He is the wrong price with bookmakers and his fair odds are actually $33.00 or an implied probability of 3%.
Again, irrespective of the result, this is a bet that we want to make. It has a positive EV and, over the long-term, will win you money. Even if Thomas doesn’t win the tournament, you made a positive EV bet.
Short-priced favourites
You will rarely find that the top few golfers in the market present positive EV opportunities. The bookmakers know the majority of casual armchair golf punters will tend towards the top of the board. They will bet stars, names that they know, and golfers they want to cheer for. Bookmakers need to mitigate this risk and also boost their profits. Especially when odds are very short, you are unlikely to be getting any value.
My role is helping you to identify positive EV spots. I provide golf betting tips where the actual chance of a golfer winning is higher than the implied probability currently on offer. This is the only way to win in golf betting in the long-term.
Tip 2: Structure your golf betting carefully and precisely
People structure their golf bets in many different ways. You often find people betting a certain amount on every bet they make. Others will bet an amount in order to win a specific value. For example, they bet an amount required to win $1,000 at the odds on offer.
The optimal way to structure your bets should be based upon the difference between the implied probability and the actual probability of the event occurring. If the margin is wider between the two figures, then you should bet more. Your confidence interval will be higher. Essentially, based upon your analysis you are more confident of an edge to true odds existing and you want to push that advantage. If the edge is smaller, then you should bet less.
You will find with my golf betting tips through WinDaily Sports that I provide suggested staking. I will indicate what type of bet to make and how many units or points (pts) I recommend on each option. This makes it easy for you to construct your golf betting card ahead of the tournament.
How do I read the suggested staking provided for golf betting?
Let’s look at the below example of how my suggested staking is used:
Tom Kim
1pt E/W $40.00 (8 places, 1/5 odds)
3pts Top 20 $3.50
In the above, my recommended bet is to stake 1 point E/W (1 unit to Win and 1 unit to Place). The place terms are indicated in brackets. The bookmaker has offered 8 places, with 1/5th the win odds if Tom Kim finishes in the Top 8. I also recommend 3 units on a Top 20 bet at $3.50.
Whatever you choose to make the value of your unit is up to you. 1 unit could be $5, $10, or $100. It really depends on what you are comfortable with and the size of your bank roll.
I would recommend always betting less than a maximum of 5% of your total allocated betting bank roll on any given tournament. You will encounter losing streaks and we do not advocate a “get rich quick” scheme. You will run into cash flow issues if you are betting too much of your bank roll on a given week. Instead, aim for a sustained systematic approach which leads to you growing your bankroll.
Most importantly, never bet more than you can lose. WinDaily Sports is a great community and we want you to be having fun. So, if it no longer is, then stop.
Tip 3: Top Finish Bets and Match-Ups are your bread and butter
I get it. Win bets are sexy. There is nothing better than placing your bets to then see one of your golfers come through to lift the trophy. It is even better when they are paying triple-figure odds!
The reality is that the wins you collect on your place and match-up bets are what will keep your wheels greased. Picking winning golfers is not easy. There are 140+ golfers who play in most tournaments and only one will ever win. And, even when you are regularly placing positive EV bets, it will sometimes be many weeks between win bets. Remember, you are looking at the long-term and following your process.
What you should be aiming for is to regularly be cashing place and match-up bets. One, this will mean that you are usually breaking even or making a small profit every week. When you do achieve a win bet, you will then reap the rewards and a larger profit. This keeps your cash flow positive and ensures you don’t lose your entire bankroll chasing Hail Mary win only bets.
Secondly, if you are regularly seeing your golfers place in the top end of the leaderboard that is a positive sign. There is still an element of luck in golf. The bounce of a ball, a few putts that just lip out, or a random gust of wind can be the difference between 1st and 20th. The more often your golfers are ending up in a position to potentially complete a victory, the better.
Tip 4: Meteorology and Agronomy
Meteorology
When looking at golf betting analysis, you need to continuously monitor the weather. It is baffling that in a sport so affected by the elements that so few golf bettors will even bother to check the weather prior to tournament start. Check the weather when initially analyzing the tournament. Check the weather in the last 24 hours before first tee-times. Basically, check the weather continuously before and throughout the tournament.
As mentioned in my DFS 101 article, you can get an edge depending when golfers tee off. Tee-times typically of two distinct groupings between a Thursday morning/Friday afternoon start time and vice-versa. This can create a weather edge for players teeing off at a particular time. If Friday afternoon is forecast for heavy winds and tricky scoring conditions, you may want to lean towards players starting their first two rounds Thursday afternoon/Friday morning. You will often hear of a AM/PM stack or PM/AM stack providing a potential advantage in a given week.
Not every weather forecast is the same. The weather is inherently difficult to predict as is, but many websites rely on free and basic models which are less accurate.
At WinDaily, we use a combination of the best premium weather forecast models on the market to provide the most accurate weather predictions that we can. I’m here to make this easy for you and provide the best information available. Make sure you are in the WinDaily Discord, particularly in the 24 hours prior to tournament start, to give yourself an edge!
Agronomy
You also want to check the condition of the course. Many courses on both the PGA Tour and DP World Tour have been on the circuit for many decades. This brings with it a wealth of data that you can delve into (but you still want to pay attention to any changes ahead of the tournament, such as longer rough or reshaping of certain holes).
However, there are always a few new courses to interpret each season. Three of the four golf majors – the PGA Championship, US Open, and The Open Championship (or British Open) – are often played on courses that have not been played on professionally for several years if ever. I always recommend for new courses to find video flyovers, photos, and watch interviews. You want to try to get a feel for the course and what type of player it may suit.
Grass Types
Grass type also makes a difference. This is particularly true on the greens, where different types of golf can see varying performance by golfers. The most common greens are Bermuda, Bentgrass, Poa Annua, and Paspalum.
Bermuda is found commonly in Florida and typically in warmer climates. It can be somewhat easier to read. Bentgrass is typically found in areas which have cooler summers and in coastal areas. Poa Annua has a reputation for getting bumpy in the afternoon and can be tricky to putt on. Paspalum is a very sturdy grass that is highly resistant to salt. It is generally only found in coastal and tropical courses. Being a hardy grass, it can grab the ball more than other surfaces and prove sticky.
You want to pay particular attention to prevailing wind, wind gusts, any rain forecast, and ground condition. A dry, firm course in windy conditions will play a lot more difficult to a soft course in calm conditions. This can influence both tee-time stacks, but also the type of golfer you want to look for.
Tip 5: Look for Live In-Play Golf Betting Opportunities
There remains great opportunities for live in-play golf betting. As mentioned, there are a huge number of factors that bookmakers need to take into account. Not only are there a huge number of players to account for, but bookmakers also need to know where they each are on the course. They are often too slow to react and adjust their odds. Often bookmakers identify the number of holes a golfer has left in the round and not account for whether those holes are potential birdie holes, for example.
Weather can play a factor for in-play bet opportunities. With tournaments typically running over four rounds, the weather can change quickly from a Thursday to Sunday. For example, we spotted a potential weather edge develop recently at the Italian Open. Saturday afternoon was suddenly forecast for very high winds. This meant golfers further back on the leaderboard and teeing off earlier Saturday morning were going to enjoy easier scoring conditions. We tipped Robert MacIntyre live in-play, who managed to take advantage of the conditions and went on to win the tournament at odds of 125/1.
Tip 6: Identify Key Improvements in Stoke Gained Trends
If you’re new to Strokes Gained and have not read my Golf DFS 101 article, head over for a basic run-down on Strokes Gained here.
Per that article, ball-striking metrics tend to be “stickier”. If a golfer has made recent improvement in their approach play, this is more likely to be retained to subsequent tournaments. This is one of the key trends I always look for in players that appear to be a good course fit. I also like to identify whether the increase in SG: APP has been linked with recent improvement in driving accuracy. These two metrics combined give an indication that the golfer’s swing is in good shape and they are striking the ball well.
If a player has made recent improvement in SG: APP, driving accuracy, and if they have previous positive course form, that is a situation I want to pay close attention to. Do be aware to check how recent those performances were, as you will want to give less weighting to tournaments which were a month or longer ago.
Putting statistics are not that important (usually) for golf betting
SG: PUTT, followed by SG: ATG, is the most volatile metric. So much of short-game comes down to touch, feel, and confidence. Putts can be off by a mere centimeter and miss, or a golfer can get hot and suddenly make every putt they see.
Yes, there are better putters than others. But, as a rule, a recent hot putting performance does not necessarily mean they will putt well the next tournament. I prefer to see a longer stretch of improved putting before I start giving credence to the fact that the golfer has actually made some permanent gains with the flat-stick.
Regression to the mean
One of the biggest mistakes I see bettors making is not comparing recent improvements to a golfer’s longer term baseline. If Viktor Hovland is hitting the ball well on approach, that is almost a given as he is one of the best iron player’s in the game. We expect him to hit the ball well on approach. However, if Hovland starts hitting more fairways with his driver or making improvements in his SG: ATG, then I am beginning to get interested.
Likewise, if a golfer has had a great week putting, we would expect the golfer to experience regression towards their mean. As putting is more volatile, we typically also experience this regression more quickly. Basically, we would expect the golfer’s form to return towards their average baseline.
Summary
There are a huge number of factors that goes into successful golf analysis. The majority can’t, or simply won’t, put in the time required to be able to identify positive EV golf betting opportunities. It always pays to remember that it is the bookmakers job to analyze golf tournaments better than you to set fair pricing. At WinDaily, we are here to help and give you that winning edge!
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