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Sports betting 101: Basics of how to bet on golf responsibly

As golf in the U.S. has exploded in popularity over the past few years, so too has sports betting. With 38 states and Washington, D.C. having legalized some form of it, sports gaming products are more popular and widely accessible than ever before. Those trends, along with advances in golf technology that provide for new gamification opportunities and wagering markets have resulted in a concurrent increase in golf betting popularity. As thousands of bettors try their hand at golf wagering for the first time, it’s critically important to first learn the basics to help ensure that it is done in a healthy, sustainable way.

Betting on PGA TOUR golf smartly and responsibly

Golf betting is notably different from gambling on other sports. With so many players in the field, hundreds of bet types available and tournaments held almost every week, it can be overwhelming for novice bettors to try to place their first golf wager. Therefore, a good strategy is to take things slowly with a measured approach.

Predicting the outright winner is simple enough, but the odds reflect how difficult that can be. There are triple-digit longshot winners somewhat regularly on the PGA TOUR, but that’s countered by the times when Scottie Scheffler or another favorite with very low odds is victorious. Betting on top-five or top-10 finishes can provide similar excitement with a bit more wiggle room, but at a fraction of the potential payout if it hits. Another simple starting point can be head-to-head matchups, predicting which of the two golfers will end up with a better score in a particular round or over the course of the whole tournament.

No matter the bet type you choose for your first bet on golf, there are important tips and recommended best practices to familiarize yourself with beforehand.

Limit your number of bets and overall exposure. With hundreds of betting options available for every tournament, it’s critical to limit how many bets you place. A wise approach is to ask yourself, “If all of these bets lose, what will my total losses look like?” It can sometimes be smart to diversify risk with a portfolio of bets, but there’s also a chance that all of them will lose. It’s easy, but dangerous, to assume that at minimum some of your bets will win, so calculating your total exposure is important. Always make sure that your total risk figure – the combined amount wagered – is an amount that you’re comfortable losing entirely without any impact on your financial well-being.

Don’t increase wager amounts for big tournaments. Marquee tournaments like THE PLAYERS, Signature Events and majors draw increased interest from casual fans and bettors alike. However, the popularity of the event should not mean wagering more than usual. Increased risk can quickly result in heavier losses than expected, which for some can mean more than they could afford to lose. It’s great to get excited about a big tournament, but that excitement should never translate into larger risks than usual.

Research the sportsbook’s “house rules.” These can vary, so be sure to learn each individual set of rules before wagering with any particular sportsbook. Some examples:

Dead heats: A common source of confusion among new golf bettors can arise with place-betting (ex: Top five, Top 10). The Golfbet editorial team provides detailed guidance on this topic , but the general rule of thumb is that if there’s a tie for finishing within that top group, your winnings will likely be divided by the number of players who tied.

Withdrawals (WD): If someone withdraws from a tournament before teeing off, bets on that player are almost always voided and the wager amount is automatically refunded. However, if the player tees off and then withdraws for whatever reason, wagers on that individual are generally graded as losses.

Learn the tournament format. PGA TOUR golf tournaments can vary notably in field size, cut rules and playoff formats. This year’s Signature Events generally featured 70-80 players, and most did not have a cut after the first two rounds. However, the three player-hosted tournaments – The Genesis Invitational, Arnold Palmer Invitational presented by Mastercard and the Memorial Tournament presented by Workday – did have a 36-hole cut that limited weekend play to the top 50 and ties, plus any player within 10 shots of the lead. These considerations can be critical when deciding which players to bet on and properly assessing their chances in each of the available betting markets.

Study the course. Take time to research the layout, how it may fit certain skill sets, players’ past performances at that venue or similar types of courses. It’s also worth checking to see if any changes have been made to the course or its set-up for tournaments since it last hosted an event. Many host sites aim to keep up with club and ball technology by lengthening certain holes or the course overall, so make sure those adjustments are considered when looking into past data.

Responsible Gaming tips for sports betting in general

The guidance above is critically important for betting on golf specifically, but there are thousands of people across the United States new to sports betting in general who need to first learn the basics of betting responsibly on any sport. At the highest level, it’s important to realize that it is incredibly difficult and rare to turn a profit in the long term through gambling. All forms of betting are built with a “house edge” so that the sportsbook, casino or gaming operator is incredibly likely to make a profit from it. The  from one form of gambling to the next, but they always give the operator a notable advantage over the average bettor.

Given that, sports betting should be viewed as a form of entertainment for which you are likely going to pay. With sports betting odds skewed notably in the sportsbooks’ favor, the most likely scenario is that you will not turn a profit, especially over a longer time horizon if you are gambling regularly. Just as you would pay for a ticket to attend a PGA TOUR event in person, betting on a tournament usually means paying a price for the increased potential excitement of having additional rooting interests. That entertainment very likely comes at a cost, even if there is a (less likely) chance of winning money.

Choose a bankroll amount, which can be thought of as your personal sports betting budget for a specific timeframe. You must be comfortable losing this entirely without it impacting your overall financial health, such as your ability to pay monthly bills or standard cost-of-living expenses.

You should then pick a “unit size,” which is your standard bet amount. One recommended strategy is to keep it between 1-4% of your total bankroll. Keeping the amount small will allow you to maintain an account balance throughout “cold streaks” of losing bets, without needing to deposit again or increase your bankroll.

Never chase losses. One of our licensed clinicians at Birches Health has stated that chasing losses is the most common indicator of a gambling problem that he’s seen. The concept of chasing losses involves placing more or larger bets in attempt to win back what was lost previously. Feeling “due” for a win or thinking that you can’t possibly lose again is incredibly dangerous, as losses can compound rapidly and result in significant negative impacts on financial and mental well-being.

Don’t bet with money that you don’t have at the time. Borrowing money from a friend or family member to gamble can also be very dangerous and result in gambling debts that you are unable to pay.

Set limits for yourself on deposit amounts and time that can be spent betting. Many popular online sportsbooks now offer features for users to set these types of limits themselves. These tools are incredibly important and should be used by all bettors, as they can help ensure that sports betting remains a casual form of entertainment and reduce the chances of bettors becoming preoccupied with gambling.