There are a couple of nightmare scenarios for sportsbooks at the 2023 Masters, but none would cause more panic behind the window than seeing Tiger Woods in contention on Sunday.

Even though Tiger is very unlikely to win and bookmakers will always charge a premium on his odds, people will still lump money on the five-time Masters champion.

And even though almost all of the cash that comes in on The Big Cat will be small bets from casual punters, it will add up by the time Tiger tees off at 10:18 a.m. ET on Thursday, and he will likely be the biggest liability for most sportsbooks.

A Tiger miracle would be a disaster for sportsbooks, not just because of pre-tournament action.

If Woods starts hot, a ton of live money will hit the market as FOMO (Fear Of Missing Out) kicks in for folks who didn’t think the unthinkable could happen…again.

It’s a story we’ve seen before.

Back in 2019, when Woods pulled off one of the sport’s most incredible stunners by winning the Green Jacket, bookmakers watched in terror as more and more money came in on the Big Cat as the tournament went on.

By the time Tiger threw on the Green Jacket, three different sportsbooks had reported losses of at least $1 million.

(via FanDuel)

As for bettors, Woods’ participation in the Masters is always a fun dilemma.

There are a lot of serious punters out there that will thumb their noses at those who back Tiger because it’s a -EV (negative expected value) play, but that’s not really the point in this one-off scenario. 

Betting on Tiger Woods is about the moment and having some fun for almost every person who winds up with action on the Big Cat this weekend.

Very few people are looking at his odds and only betting it because they see value in the number.

As long you’re being responsible, there’s no right or wrong way to bet on Tiger Woods at the 2023 Masters.

By this point in Tiger’s career, we know what his chances are this week.

It’s a near certainty that Tiger will not win this week. His true odds are probably double what bookmakers are offering. 

But that’s not really the point in this circumstance.

Betting is supposed to add to the fun of watching sports.

And what’s more fun for golf nerds than sweating a Tiger Ticket at Augusta National?