Betting on The Open Championship is a difficuly proposition, there are just so many contenders, and upsets (if you can call someone from outside the top 10 an upset) are very common in golf. Basically since Tiger went off the boil, it's been a very open game.
Having completed my first 'book' during the World Cup I've tried to do the same with the Open as well, and after day one it's so far so good. I'll explain in more detail in the blog tomorrow, but the basic principal is to back the top players each way (going outright pre tournament is a bit crazy) at sites and in shop where they have boosted the paid places.
What that means is I have positions on a number of players, with refunds if specific people win the tournament as well as a good chance of each way wins. As the tournament progresses I can then lay off some of the bets as people come in or out of contention.
A couple of things to point out. Having Tiger in the field is a key factor of this. Regardless of how he's played there is always money on Woods as the casual better will go for a name they know, and he always receives so much coverage that you would expect him to still be relevant. Of course he is, as demonstrated today after his rocky start, but not as much as he once was, but that's where the money is.
It's similar to England going out of the World Cup so quickly. Suddenly there were far less casual betters in the market having a small flutter (and all those flutters add up to a lot of liquidity).
If Woods misses the cut the same thing happens. Someone betting on Woods might also have a couple of quid on another player, maybe the one currently leading, and it all adds up.
Anyway, that's it for now, just wanted to share my excitement that the Open has started, and there's money to be made!
For a list of Open Championship betting offers, check out The Gambling Times. You'll have missed the boat on a lot of them as they'll be pre-tournament, but there's still time for some in-play betting and trading.
To close, you might have wondered what the three pics were related to above. Well Tiger because he's a legend and I want him to stay in as long as possible (and he looked bloody good winning the Open before), Ernie Els because I've never seen a professional golfer do this on the first hole of a major, and finally Adam Scott who I've got a feeling will be right in there at the end........so remains unlaid for the moment!