{"id":68817,"date":"2023-02-27T14:27:49","date_gmt":"2023-02-27T14:27:49","guid":{"rendered":"https:\/\/articles.runyourpool.com\/?p=68817"},"modified":"2023-02-27T14:27:51","modified_gmt":"2023-02-27T14:27:51","slug":"the-business-behind-golf-betting","status":"publish","type":"post","link":"https:\/\/www.runyourpool.com\/articles\/2023\/02\/27\/the-business-behind-golf-betting\/","title":{"rendered":"The Business Behind Golf Betting"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">When you think of the sports with the most upside from a sports betting perspective, one could argue for NFL Football; in Super Bowl LVII alone, the American Gaming Association reported an estimated $16 Billion in waged bets. Likewise, a case could be made for the men\u2019s\u00a0March Madness tournament; the American Gaming Association predicted $3.1 billion would be wagered in last year&#8217;s tournament.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nonetheless, professional golf is a sport that is statistically in the $4 to $5 billion handle range, according to Golf DataTech\u2019s <a href=\"https:\/\/www.golfdatatech.com\/new-gambling-and-golf-study-estimates-5bn-market\/\">recent study<\/a>. Essentially a handle is the amount of money in wagers that are accepted. Though that $4-$5 billion handle represents only 8% of the sports betting handles within the U.S., notable sportsbooks are bullish on the financial progression of golf.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe always treated golf like NASCAR or auto racing\u2014somewhat ancillary sports,\u201d says Jeff Sherman, vice president of risk management and an oddsmaker at Las Vegas-based Superbook USA. \u201cLately, golf has accelerated past NASCAR. It\u2019ll never touch betting interest in major sports, college football, or basketball, but it\u2019s right behind it. People love to bet a little to win a lot, and that\u2019s exactly what golf offers with so many different golfers, often at high odds.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/articles.runyourpool.com\/wp-content\/uploads\/2023\/02\/Genesis_Invitational_Golf_23047721893317.jpg\" alt=\"\" class=\"wp-image-68819\" srcset=\"https:\/\/blog-assets.runyourpool.com\/articles\/wp-content\/uploads\/2023\/02\/27142520\/Genesis_Invitational_Golf_23047721893317.jpg 1024w, https:\/\/blog-assets.runyourpool.com\/articles\/wp-content\/uploads\/2023\/02\/27142520\/Genesis_Invitational_Golf_23047721893317-300x169.jpg 300w, https:\/\/blog-assets.runyourpool.com\/articles\/wp-content\/uploads\/2023\/02\/27142520\/Genesis_Invitational_Golf_23047721893317-768x432.jpg 768w, https:\/\/blog-assets.runyourpool.com\/articles\/wp-content\/uploads\/2023\/02\/27142520\/Genesis_Invitational_Golf_23047721893317-215x120.jpg 215w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">AP Photo\/Ryan Kang<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">In 2021, the global sports betting market was valued at over 80 billion dollars. The U.S. is responsible for 60% of that share. By 2026 the revenue from global sports betting is expected to increase to over $110 billion. 8% of that revenue will be generated will be through golf betting.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There are many intricacies involved in betting on golf matches. First, you have the winner market, the most popular bet on golf, which is a bet on who will win a particular event outright. In addition, one could go the two-ball or three-ball route, where you can wager which players will score the least in a specific round. Further, sports media platforms have created BetCasts which are different from a television network airing match and instead provides Live odd changes, match-up tracking, and other graphics to keep the viewer engaged in what\u2019s happening on the betting side.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAccording to John Krzynowek, co-founder of Golf Datatech, \u201cBetting on professional golf provides some degree of comfort to the gambler. They know Tour players are performing every week for a paycheck versus a professional athlete with a guaranteed contract who can have an off day and still get paid or choose not to play. A golfer\u2019s professional life depends upon performance, making it far less likely for anyone to question the result of any tournament.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Furthermore, when it comes to betting on golf, it is hard to ignore the community aspect of it. 10% of golfers regularly bet on the pro game, and an additional 14% do so during a major. As we build up to the Masters, look no further than <a href=\"https:\/\/www.articles.runyourpool.com\/\">RunYourPool<\/a> as the go-to platform to help you manage your pools and stay connected with other like-minded golf enthusiasts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With more and more states legalizing sports wagering, golf is slowly increasing in popularity with gamblers. Check the numbers here.<\/p>\n","protected":false},"author":6,"featured_media":68818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","footnotes":""},"categories":[797,43],"tags":[],"class_list":["post-68817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editorial","category-pga-golf"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Business Behind Golf Betting | The Poolside Post<\/title>\n<meta name=\"description\" content=\"With more and more states legalizing sports wagering, golf is slowly increasing in popularity with gamblers. 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