As sports betting markets continue to expand and offer an extensive range of options, from popular sports like golf to all sorts of weird and wonderful niche and virtual games, one constant remains—understanding the market terms is integral.
Sportsbooks will do their utmost to try to get you on board. The sports betting industry is a multi-billion dollar market that continues to grow every year, and the fuel that stokes this fire is new customers signing up for their site. It can be a minefield trying to navigate the extensive library of new companies looking to break into the gambling market for those looking to choose a sportsbook.
There are a growing number of review sites where experts give their opinions on platforms with higher-quality bonuses and services that appeal to those looking to bet on specific markets, such as golf or other sports. Today’s focus will be on golf lingo for bettors, detailing some of the terms and jargon to engrain in your brain so you can more clearly understand the mechanics of the market.
Some of these terms are more generic and based on odds found across various sports. However, some of the ones we’ll be touching on are specific to golf betting and will help you develop your glossary and understand what to look for when you place a bet.
Betting Formats Explained
Understanding the betting market doesn’t just revolve around understanding golf terminology. Depending on your preference, you might see odds detailed in a variety of formats.
In the American market, the most common type of bet is the Moneyline, which details each bet as a multiple of $100. For example, if Team USA is +140 to win the Ryder Cup and avenge their 2023 loss, a $100 bet would return a profit of $240, including your initial stake.
This same market as a decimal bet is marketed as 2.4 – it acts as a multiplier. So, a $100 bet, multiplied by 2.4, is $240. Fractional odds are the most common, so the same market in fractional odds would be 7/5. This means you receive $7 back for every $5 you bet – which, again, equals $240, including the stake.
Responsible Gambling
Another critical area of betting revolves around safe gambling practices. Irrespective of the gambling site you choose, you should see that the site signposts services that can help those with an issue to either self-exclude or take a quick questionnaire to see whether their gambling is becoming an issue.
If it’s a more pressing matter and you or somebody you know is beginning to exhibit issues with betting such as viewing it as a source of income, or if it is starting to impact their mood or friendships, support groups like Gamblers Anonymous can connect you with others who have tackled their issue and got it under control. Time and deposit limits are the two key terms to remember regarding responsible gambling protocol.
Golf-specific betting terminology
Here are some of the most common golf markets you can find across US sports betting platforms:
Outrights/Futures
Outright markets simply mean choosing the player who will win the entire tournament. Instead of having a punt on one game, an outright lasts throughout the tournament and can get you more mileage out of your bet. The top four most popular golf markets are:
· The Masters.
· The US Open.
· The Open Championship.
If you bet on any player to win these outrights, even if the tournament is months away, this is referred to as an outright or a futures market.
The Field
Betting on the field is betting on a player that isn’t listed; it’ll usually take out the top names. So, let’s say you’re betting on The Open and pitting Scottie Scheffler and Collin Morikawa up against The Field. In this instance, your bet would be successful if you bet on The Field and any other player other than these two won.
Over/Under
One of the most popular bets is direct markets on players to go over or under par. Depending on the player, their skill set, and their form at the course, these odds can change quickly, and it’s becoming an increasingly popular in-play market, too. If you come across this bet, it simply means you’re betting on how many shots below or over par the player will go.
Prop Bets
While many of these odds mimic bets you’ll find in other sports, the hole-in-one bet is an obvious one specific to golf and is an example of a prop bet. You can find several variants of this market across different sportsbooks.
You can either bet on a specific player to win on a specific round or group several golfers to hit one during the tournament. Either way, the odds are often slim, and the return is usually significant. Other popular prop betting markets include:
· The number of bogeys a player makes.
· Who hits a birdie.
· The tournament’s lowest round.
· The margin of shots for the eventual winner.
Final Thoughts
Understanding the terms and how the sport works is essential regardless of the sports betting market you want to get involved in. Gambling on any market you do not understand is a recipe for trouble, but as you can see today from the terms we’ve explored, there’s not an extensive list of golf-specific terms.
Many of these terms have a generic application across the world of sports betting. If you understand the tournament structure and how the sport works, you shouldn’t have too much difficulty dissecting the markets and understanding what each term means.
Once you’ve got the basics down, it becomes familiar and helps to set the foundation of strong, core knowledge. So long as you don’t lose sight of what we said about responsible gambling, which is something that should act as a bedrock of any golf betting strategy, then you’ll be able to build on these terms, increase your overall knowledge, and obtain a better grasp on how golf betting markets operate.
