Golf is a game that has been around for centuries, but has recently experienced a bit of a boom in popularity. This is thanks in part to superstar golfers like Tiger Woods and Phil Mickelson who continue to dominate the game, as well as the emergence of sports betting, which makes it easy to place wagers on golf competition.
If you’ve enjoyed the game and its many variations (such as golf cart where you race other players on a cart), then it’s time to bet on golf. There are numerous ways to make money betting on golf, including using online software to formulae winning golf bets, but you need to know how to get started. Here are the top 10 ways to win when betting on golf.
Pay Attention To Stocks
One of the simplest and most effective ways to make money betting on golf is to follow the market movements of stock prices, especially when betting on the major golf tournaments. The S&P 500 (SPY) is an index that tracks the performance of the 500 largest companies in the U.S. It’s considered one of the best measurements of the market’s general mood. If you want to place a wager on the U.S. Open, then you’ll probably want to look at closing prices from the previous five weeks versus the Open winners’ purse (currently the Open winner takes home $11 million).
Another option is the Russell 2000 (RUT) which tracks the performance of the 2,000 smaller companies in the U.S. This is a great measurement for investors who want to bet on the performance of smaller companies due to its limited supply.
Golf tournaments, particularly the S&P 500 and RUT games, are popular options among serious bettors. However, you should avoid putting all your eggs in one basket by betting on just one tournament. It’s better to spread your wagers across a few tournaments to reduce the risk of loss.
Use Online Software
There are numerous ways to bet on golf without needing to leave your home. One of the best things about the Internet is how it has allowed for the development of online golf betting software. These platforms take the clutter out of golf betting and remove all the hassles of trading golf bets with individuals or brokers. They also help you keep up with trends in the golf market by analyzing data from all the major tournaments and betting on the events you consider most attractive.
Although online golf betting softwares make it easier to get into the game, they can also introduce you to it if you’re not sure what all the jargon means. Knowing the difference between a putt and a stroke is essential if you want to win money on golf. The more you know about golf, the better you’ll be able to play the game and make money from it.
Diversify
Golf tournaments are considered high-risk favourites because they are such high profile events. This makes it important to bet on a variety of tournaments rather than just one. The advantage of this is that if any of your tournament wins, then your bets on the others will pay off. If, however, all your tournaments losses, you’ll be out of pocket money but not necessarily out of favourite stocks (depending on the company you’ve bet on most likely the cost of living will be higher than your winnings for the year).
Placing wagers on a variety of events is another way to win with golf. You can place a wager on the winner of the U.S. Open to see if it climbs the tournament leaderboard or spends more time in the top 10 to see if it ranks as one of the most popular tournaments for the week. The more you bet on, the less risky it is to win. Plus, the more events you bet on, the more opportunities you’ll have to win. It’s better to play golf a few times a year than to play once a week and hoping to win once or twice a month.
Be Selective Of The Markets You Bet On
As a general rule, you should avoid picking specifically the S&P 500 to bet on golf (unless you are very knowledgeable in this specifically the 500 companies within it). It’s better to bet on the Mane Series of the S&P 100 (SPY.MKT) which tracks the performance of the S&P 100 components – the 100 largest companies in the U.S. That’s right, you get 100 top companies for the price of one – and it’s widely available to all traders with no pre-set limits or requirements.
Similarly, you should avoid picking the Dow Jones Industrial Average (DIA) to bet on golf (unless you are very knowledgeable in this specifically the 30 companies that make up the average). It’s widely available and very liquid, which makes it easy to trade and the most popular measurement for performance of the market as a whole.
Study The Trends
It’s quite easy to win money from golf tournaments with a simple strategy that most casual golfer’s will love: just bet on the top performers in the game. You can find out which tournaments are expected to perform well by studying past performance and the trends forming in the current state of the golf market.