BetMGM Sportsbook Insights: 2024 Masters Betting Recap

Another Masters Tournament has come and gone. When all was said and done, Scottie Scheffler had taken home his second green jacket.

After the Masters wrapped up, BetMGM shared some of its findings on betting practices from the tournament. The online sportsbook made two major points: Bets by women on the Masters spiked dramatically, and operators thrived thanks to Tiger Woods making the cut and Scheffler taking home the win.

As always, the Masters was an eventful occasion for North Carolina sports betting.

Scottie Scheffler had the most money on him to win the tournament

Tiger Woods making the cut and going the distance in the Masters Tournament is always a big boost. There is no denying how powerful his presence is in the sport, and his inclusion inevitably leads to more bets.

But outshining even Tiger was the eventual winner, Scheffler. He might have had a rough first day, but he turned it on afterward and never looked back. He won the 88th Masters by four strokes and finished 11-under.

Scheffler’s odds to win the Masters Tournament at BetMGM Sportsbook NC over each round looked like this:

  • Round 1: +500
  • Round 2: +150
  • Round 3: +140
  • Round 4: -120

In total, 26% of the money wagered on the Masters Tournament was on Scheffler to take home the victory, according to BetMGM.

Trading Manager Seamus Magee said Tiger’s influence and Scheffler’s win was the perfect recipe for a successful event for BetMGM.

“The Masters was a great result for the sportsbook. Scheffler was a nice winner on our outright book, and Tiger playing the whole tournament translated into a really good weekend in Augusta for BetMGM.”

Wagers by women on the Masters Tournament skyrocket

In recent years, BetMGM has noticed a dramatic spike in wagers placed by women. According to the sportsbook’s data, there has been a 25% increase in women betting on BetMGM platforms from 2022 to 2023.

The betting demographics for the Masters showed the same trend, according to Magee. “Women keep on betting with BetMGM,” he said. “The 2024 Masters Tournament was no different. BetMGM saw a nearly 50% increase on total bets for the Masters year over year, with a whopping 161% increase in women betting on the tournament.”

It is not just golf, either.

BetMGM also reported 2.5 times more bets on women’s college basketball over the same period. With superstars like Caitlin Clark entering the WNBA and more marketing resources being directed toward women’s sports, that trend could continue.

BetMGM Director of Trading Matt Cosgriff said a big reason for the increase in wagers by women is players like Clark becoming more well known.

“The growth year on year has been exponentially driven by prominent players, like Caitlin Clark, becoming household names and an increase in the number of televised women’s games,” he explained.

BetMGM data also showed a 51% boost in sports wagers by women on the 2024 Super Bowl and a 20% increase in women playing poker in person or through iGaming.


Image Credit: David J. Phillip / AP Images

About the Author

T.J. McBride

T.J. McBride is a writer and reporter based in Denver who covers the Nuggets as a beat writer. He regularly contributes to NC Sharp on issues surrounding the online gambling market. His byline can be seen at ESPN, FiveThirtyEight, Bleacher Report and others.