Golfing legend Tiger Woods didn't compete in many PGA Tour events in the 2023 season, competing in only two official events. The legendary golfer is back this week competing in his first official tournament since April.
Woods returning and competing in more events in 2024 could be good for the sport of golf and the sports betting sector.
What Happened: On Thursday, Woods teed off in his first 2024 event as part of the four-day Genesis Invitational in California. The tournament also marks the first event for Woods after his breakup with long-time sponsor Nike Inc NKE.
Woods recently launched a new apparel brand called Sun Day Red through a new deal with TaylorMade.
With Woods in the tournament, interest and betting on golf could see an increase.
"I can't think of a time where Tiger Woods playing didn't increase interest in golf," DraftKings Inc DKNG CEO Jason Robins told Benzinga.
Robins said Woods being in the tournament and playing in more 2024 events could increase interest in the sport and also help betting handle for the sport.
"It's great when Tiger's playing."
Robins said Woods being active for golf tournament is "good for everyone."
"Hopefully he'll stay healthy and continue to play."
Related Link: DraftKings Stock Hits 52-Week Highs: 7 Analysts Size Up Jackpocket Acquisition, Q4 Results, Future Growth
Betting on Woods: The Genesis Invitational is Thursday, Feb. 15 through Sunday, Feb. 18 with media partners Walt Disney Co DIS, Paramount Global PARAPARAA and Comcast Corporation CMCSA broadcasting coverage on TV and via streaming platforms.
Woods entered the tournament as a heavy underdog to win it with odds of +13,000 at DraftKings. Woods was listed with odds of +2,200 and +900 to finish in the top five and top 10, respectively, to start the tournament.
At DraftKings, bettors could also bet on Woods making the cut after the first two days at odds of -110. Woods has three top 10 finishes at the tournament and is one of the most efficient golfers when it comes to making the cut in tournaments.
For this tournament, the top 50, plus ties and anyone who is within 10 strokes of the lead will make the cut out of the 72-person starting field.
Woods shot a 72 Thursday, which was one over the par of 71. On Friday, Woods was -1 through three holes for a total of Even on the tournament at the time of writing. This put Woods tied for 46th place and above the projected cut line of +1.
Looking further out, odds for Woods to win the 2024 Masters Tournament are currently listed at +10,000. With the Masters Tournament set for April, a strong showing at the Genesis Invitational could greatly improve Woods’ betting odds.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
.jpg){kind=link}