The Masters: A Sports Betting Boom Waiting to Happen
As the prestigious Masters Golf Tournament unfolds annually at Augusta National Golf Club, it’s not just the greens that are growing. Discover how this exclusive event is also fostering the growth of sports betting.
College football could be worth billions of dollars to online gambling companies. Image Source: YourGolfTravel
A Unique and Profitable Business Model
The Masters golf tournament, held annually at Augusta National Golf Club in Georgia, is renowned for its exclusivity, detail, and luxury. The tournament is a unique and highly successful business entity that operates as a for-profit corporation, unlike most golf clubs operating as non-profits, which gives the organizers extreme privacy and control over ticket sales, revenue, and other aspects of the event.
The Masters tournament reportedly brought in $141 million in revenue in 2022. Roughly 75% of that came from merchandise and ticket sales, and the remaining 25% came from international TV rights and concession sales. However, the tournament only sells merchandise to in-person attendees, making it exclusive and highly sought after.
The Exclusive World of Masters Golf Shop
Sales of merchandise generate around $70 million annually. In 2022, Augusta National doubled the size of the main Masters golf shop, complete with a dog mannequin, to cater to the growing merchandise business.
Tickets for The Masters are highly sought after but the ticketing policy is unique. The tickets are known as “badges,” and rather than just selling them to the highest bidder on the open market, the tournament restricts ticket sales and operates on an invitation-only basis.
The limited number of badges sold to the public are available only to those who register for a chance to purchase them. In 2022, tickets generated about $39 million in revenue.
Betting on The Masters
Sports betting on The Masters is also growing. Betting on the tournament has exploded in recent years, with many online sportsbooks and bookmakers now offering a range of markets on the event. In 2022, the tournament saw record-breaking handle numbers, with many sportsbooks reporting that The Masters was the most wagered-on golf event in history.
The overall handle for The Masters surpassed $500 million across multiple operators including DraftKings, WynnBet and Caesars sportsbook, with the winner Hideki Matsuyama attracting the most betting action.
The Masters golf tournament is a multimillionaire event, generating a large amount of revenue annually. Its exclusivity and control over its operations have contributed significantly to its business success. The tournament’s focus on in-person merchandise sales and its unique ticketing policy has created an exclusive event, which is highly sought after.
The growth in sports betting on The Masters indicates that it is not only a prestigious tournament but also a popular betting event.