US Masters 2023
Overview
Dates: April 6, 2023 to April 9, 2023
Location: Georgia, USA
Course: Augusta National Golf Club
Course Par: 72
Course Length: 7510 yards
Prize Purse: $15000000
Augusta National is the venue as the world’s best (and some aged past champions and a smattering of elite amateurs) take on the prettiest golf course in the world in their attempt to be 2023’s first major winner. Scottie Scheffler, Rory McIlroy and Jon Rahm have separated themselves at the top of the world rankings and deservedly head the market for the US Masters, but FormGolfer have identified five players to take them on with that we believe offer better value. Can we continue our recent form with Taylor Moore winning the Valspar at 60/1 and Matt Kuchar going so close in the Texas Open?
Results
Sadly not the result we were hoping for, although just a few shots here and there made all the difference. Of our five picks, four made the cut and all finished inside the top 30, but unfortunately none made the finishes we needed to secure a return. Xander, Hideki and Sungjae all went into the final round with realistic prospects of a top 10 finish; had even two of them done so we’d have been nicely in profit, but all fell just short in the end. We weren’t helped by the weather with most of our selections finding themselves with tee times in the worst of the weather, but we probably shouldn’t use that as an excuse since Jon Rahm faced the same challenge yet emerged successful.
We did highlight Rahm as the most appealing of the big three in the market, but didn’t see enough of a value angle to include him in our picks. It was just one of those weeks.
Preview
If you’ve been waking up this week feeling like it’s nearly Christmas, you’re not alone. The Masters is here and it’s probably my favourite sporting watch of the whole year. The best in the world of golf slugging it out over four days on one of the prettiest canvases you could ever wish for. To say I’m excited wouldn’t do it justice and we’ve gone even deeper than usual in our efforts to find the value that will hopefully make it a profitable first major of 2023 for FormGolfer followers.
So, what are we looking for in our winner? The first and most important factor to consider is track record at Augusta. Everyone knows that Masters debutants don’t win (OK, Fuzzy Zoeller, but that was over 40 years ago now), but not only that, it’s a course that you have to learn to play. The vast majority of previous winners have built up to their success, learning how to navigate the place before bagging that priceless win. You almost can’t overstate this, and the statistics back it up – more than any other venue used by the PGA Tour, performance at Augusta correlates with previous performance there. It’s also a course that rarely produces truly unexpected winners, all champions since 2010 have been in the top 30 in the world rankings at the time; even the likes of Willett and Schwartzel met this trend.
There are several other venues where performance consistently translates well to Augusta; notably Riviera and Kapalua – the hosts of the Genesis Invitational and Sentry Tournament of Champions respectively. The roster of previous winners there reads like a who’s who of Masters champions: Bubba, DJ, Adam Scott, Cam Smith, Patrick Reed, Jordan Spieth, Zach Johnson and of course Tiger have all won at least one of those two tournaments. So we’ll be looking for at least some previous history there as well as Augusta itself.
In terms of strengths required to score well at Augusta, let’s first dispel the myth that you have to putt well to win the Masters. The greens are of course very tough – quick with severe slopes. But the evidence points to this being a leveller rather than something that helps the great putters to separate themselves from the field. Looking at last year’s top 22, half of those players either lost ground or gained very little on the greens. Rory finished in second despite having lost ground to the field with his putter. In 2021 it was even more striking: half of the top 10 lost ground on the field on the greens. The explanation would seem to be that putting at Augusta is tough enough that even the very best will miss their share from 6-12 feet – which give those who are suspect from that range an opportunity to not lose as much ground as they might normally do.
Of course putting well never hurts, but what are we looking to instead? Primarily Augusta is an approach course – it’s not too demanding off the tee (at least in terms of accuracy required, although length is definitely advantageous, particularly when the course is playing soft), but you have to be able to put your approaches in the right part of the greens. Proximity from 150-200 yards out is an important stat to look at, with many approaches being hit from that sort of distance. Scrambling well is also a big asset, so it’ll be strokes gained approach and around the green that we’ll be focusing on. And finally, par 5 scoring is the key to building a low score here, so a tick in that box would be nice to have.
It’s thoroughly unsurprising that Scottie Scheffler, Rory McIlroy and Jon Rahm (the top 3 in the world rankings) top the market, with daylight back to the rest – they score highly for most if not all of the characteristics we are looking for and to be honest it’s hard to split them, or to make a case for any of them being value around the 8/1 mark. Put a gun to my head and I would just about side with Jon Rahm. It wouldn’t be the slightest surprise if any of them were to win, but we feel there is better value to be had elsewhere.
Outrights
Player | Points | Type | UK Odds | Places | Outright US Odds |
Justin Thomas | 5 | each way | 18/1 | 10 | +2200 |
Xander Schauffele | 4 | each way | 22/1 | 10 | +2500 |
Hideki Matsuyama | 3 | each way | 40/1 | 10 | +5000 |
Sungjae Im | 2.5 | each way | 40/1 | 10 | +4000 |
Si Woo Kim | 1.5 | each way | 80/1 | 10 | +12000 |
Our first major pick of 2023 is Justin Thomas (5pts each way, 18/1, 10 places). Having belatedly bagged his second major title last season, he knows he needs to push on again to fulfil his undoubted talent and keep up with good pal Jordan Spieth, and he has so much in his favour that his price looks too good to pass up. Starting with his Augusta record, he’s now made seven cuts in a row and shown a gradual improvement trend, with nothing worse than 21st in his last five visits. Add to that good records in the Genesis (three top 10s) and the Tournament of Champions (two wins and a further three top 5s) and he’s starting to look like someone whose name would sit nicely alongside other Masters winners. His wedge skills stack up against anyone else in the field and his iron play isn’t far behind the best. While he does have a slightly worrying tendency to miss a few short putts, as we said earlier this is less of a concern here. The clincher is the price – I’d have him closer to the 12 or 14/1 mark, so we simply have to get involved.
We’ll take another from near the front of the market in Xander Schauffele (4pts each way, 22/1, 10 places), who fits the bill in a very similar way to JT. Prior to a surprising missed cut last year, Xander was building up exactly the sort of Augusta track record that would fit a future champion, with a second and third placed finish from his previous three starts here. Also bringing relevant, albeit slightly less compelling form from the Genesis (four top 20s) and ToC (a win, a second and a 12th place), his iron play is his absolute strength, sitting only behind Finau and Morikawa in that department in the last six months. He looks likely to be a repeat contender in the Masters in the years ahead and like JT deserves to be a touch closer to the market leaders in terms of his price.
We turn to a past champion for our third selection in Hideki Matsuyama (3pts each way, 40/1, 10 places), who having had a fairly quiet year is showing welcome signs of a return to form – a return to Augusta may be just the ticket for someone whose course form is as good as anyone’s. Six top 20s in and one top 40 in the last seven years tells its own story and makes him far too big a price compared to some of those ahead of him in the market. The reason for that price is primarily that his strokes gained stats over a longer time period don’t match up to some of the bigger names, but a 5th placed finish at the Players seemed to show he was heading back towards something like his best form. There is a niggling injury worry following his withdrawal from the matchplay with a neck problem, but he made it through 72 holes and put in a decent showing in Texas, which goes some way to easing that concern. With five top 10s across the Genesis and ToC, plus of course his win here in 2021, I’m very happy to take the chance that this week sees him continue to trend upwards, in which case he should be tough to keep out of the top 10.
Although it feels like he’s been around for ever, this will only be Sungjae Im’s (2.5pts each way, 40/1, 10 places) fourth visit to Augusta, but he’s already shown a love for the place with two top 10s recorded in his three previous visits. Like Hideki, his form has cooled a touch from his peak, but having highlighted course form as the single most important factor to consider, there’s every reason to think he should be in for another big week. His recent form hasn’t exactly been bad – he’s been making the weekends comfortably enough, and sixth place in his most recent strokeplay outing at the Players isn’t too shabby by any means. We don’t think he’s quite as strong value as our first three picks, so we’ll keep the stake a little lower, but seeing his name towards the top of the leaderboard over the weekend certainly wouldn’t be a surprise.
Finally, if there’s to be a genuinely unexpected winner, we feel it’s most likely to come in the form of Si Woo Kim (1.5pts each way, 80/1, 10 places). Clearly as we get further down the market we’ll be looking at people who match our ideal profile less closely, but Si Woo gets plenty closer than many of those at three figure prices. Nicely in positive territory for strokes gained both on approach and around the green over the last six months, he’s improved further since the start of 2023, with a string of decent finishes to his name. Three top 25s at the Masters in the last five years gives a clear indication that he can play this course, and he’s had top tens at Riviera and Kapalua. While I expect at least 7 of the top 10 spots come Sunday evening to fall the way of bigger names, it wouldn’t be the biggest shock to find Si Woo in and amongst them.
Of the others, we came closest to including Corey Conners, who picked up a win in Texas and could easily be turning into something of an Augusta specialist, but his price has contracted accordingly. Danny Willett makes a certain amount of appeal as a former champion at a huge price, but is perhaps more of a top 20/top 40 play than a realistic winner. Cam Young and Jason Day would also look to have solid chances, but Young perhaps needs another year or two’s worth of experience at Augusta to be ready to contend, while Day was very much on my mind until seeing his price – he just looks to be too short given his proximity in price to the likes of JT, Xander, Morikawa and Finau.
Good luck, however you choose to play, and enjoy four of the finest days of golf we’re likely to see this year.
Sadly not the result we were hoping for, although just a few shots here and there made all the difference. Of our five picks, four made the cut and all finished inside the top 30, but unfortunately none made the finishes we needed to secure a return. Xander, Hideki and Sungjae all went into the final round with realistic prospects of a top 10 finish; had even two of them done so we’d have been nicely in profit, but all fell just short in the end. We weren’t helped by the weather with most of our selections finding themselves with tee times in the worst of the weather, but we probably shouldn’t use that as an excuse since Jon Rahm faced the same challenge yet emerged successful.
We did highlight Rahm as the most appealing of the big three in the market, but didn’t see enough of a value angle to include him in our picks. It was just one of those weeks.