FanDuel Sportsbook app customers made out very well, too. Add in winnings from daily fantasy sports and the total payout eclipsed $3 million.
Let’s call it the Tiger effect.
Tiger Woods wins, bettors win, and FanDuel pays
Here’s the lowdown from FanDuel on what happened when Woods won his fifth Masters:
- Woods began the week netting only 10% of all bets to win The Masters outright.
- FanDuel said it was offering the best prices in New Jersey at +1800.
- By the end of the tournament, about 21% of golf bets were on Woods.
- Altogether, it equates to more than $1 million in liability.
Mike Raffensperger, chief marketing officer for FanDuel, explained how “the Tiger effect is real.”
“Tiger’s historic win today has cemented him as one of the most iconic figures in sports and we congratulate him on his tremendous achievement.”
Woods’ win ends a drought that dates back to 2005 — the last year Woods won a green jacket. But for NJ online sports betting fans who gambled that it would be Woods’ year, at last, there were plenty of reasons to celebrate.
FanDuel DFS customers win, too
FanDuel’s $1 million Mega Eagle DFS contest also enjoyed its moment in the spotlight.
And the company notes this is their biggest fantasy golf contest ever.
But success comes with its share of liabilities.
The grand total amounts to more than $2 million for FanDuel NJ. This includes a combination of prize payouts and promotional refunds.
The news wasn’t exactly a surprise. The Big Cat Cash Back Promo was announced last week. And if Woods won, every contestant would have the $15 entry fee returned.
And if Tiger wasn’t in the lineup, it didn’t matter.
The site credits appeared in customer accounts as of this morning.
FanDuel + Masters betting
However, Woods was not considered the favorite to win The Masters.
On April 8, FanDuel listed Rory McIlroy at +650. And he was getting 8.5 percent of the outright winner betting action.
Tommy Fleetwood (+3000) was receiving 7 percent of wagers to win it all.
The odds for Woods, however, changed rapidly over the course of the tournament:
The first round at Augusta National did not begin until Thursday morning, but by the end, Woods wasn’t the only surprise.
Xander Schauffele, who wasn’t even listed among the betting leaders, tied for second. He finished one stroke back with Dustin Johnson and Brooks Koepka.
FanDuel golf futures for Tiger Woods
But the PGA Tour season is just beginning. This means there are plenty of other prime betting opportunities to come.
And it also means the Tiger effect on NJ sports betting may be far from finished. The FanDuel app now includes a Tiger drop-down box.
There are still three golf majors left on the 2019 calendar.
Up next is the PGA Championship taking place May 16-19.
The US Open follows from June 13-16. And the Open Championship takes place July 18-21.
For his part, Woods is chasing history. He has won 15 career majors. The all-time leader is Jack Nicklaus with 18.
So it’s no surprise that FanDuel released futures on Sunday. Here are some of the available bets:
- Tiger to tie the Nicklaus record +500
- Tiger to break the Nicklaus record +1000
And for those thinking Woods is just getting started, the market is open on how many more majors he will win in 2019:
- Two or more +140
- Three or more +700
- Grand Slam +3500
And speaking of the PGA Championship, FanDuel has Woods as the early favorite (+850).