In recent months, Tiger Woods has lost sponsorship deals with the likes of Gatorade, AT&T, Accenture, Gillette and General Motors. So when Irish bookmaker Paddy Power entered in talks with Woods’ management company, IMG, over a $75 million sponsorship deal for his image rights, it looked as if the two would find an agreement.

Reports state that Paddy Power were prepared to pay Tiger the $75 million over the course of 5 years, dependent on his performances, with $5 million up front, as they sought to secure their biggest ever sponsorship deal.

The Irish giant is used to creating enormous publicity through their advertising campaigns, but the $75 million deal would rank way above giving out green umbrellas on Paddy Power Gold Cup Day in November or refunding losing bets if Dunguib wins the Supreme Novices Hurdle at the Cheltenham Festival.

However, IMG rejected the Paddy Power proposal, most likely because the PGA forbids golfers to have any ties with bookmakers.

Paddy Power are still keen to work with Tiger, and will reformulate their sponsorship proposal in the next few days.

Paddy Power offer the shortest odds about Tiger winning a fifth US Masters title this year – just 3/1.

bookies.com is your best bet for comparing golf odds:

US Masters Betting Odds

2010 Ryder Cup Betting Odds

The Open Betting Odds

Maybank Malaysian Open Betting Odds

Despite Tiger’s short price there is still plenty of each way betting. Defending Champion Padraig Harrington at 25/1 will be close on Woods’ tail whilst Lee Westwood will as usual be attempting to claim that ever elusive major title and at 30/1 the return on a place would still be substantial. However, what seems to be the most attractive each way punt is on Open Champion Stewart Cink, at 55/1 with William Hill he is good value. He should bring his form into the USPGA and he will be full of confidence heading into the first round.

There is also, of course, match betting available on the USPGA. Anthony Kim takes on Jim Furyk over the 72 holes. He is 10/11 to beat Furyk and he averages 25 yards more than Furyk when driving which will give him a real advantage from the tee at Hazletine. Meanwhile, Furyk has looked poor ever since he played a very sloppy final round of 76 at the Open last month. Following this he finished 25th in a weak field at the Buick Open and again went home in 51st place after a poor performance at Firestone on Sunday. Robet Allenby looks good value to beat Luke Donald in their match bet at 10/11, as his lack of length will be a real hindrance on the Hazeltine course whilst Allenby has the ability to hit it long and straight with good consistency. Allenby also offers good value in the top Australian markets. He has been playing extremely well tee to green which has secured him three top five finishes this season. Meanwhile 7/2 favourite Ogilvy looks shaken after coming just 22nd at Firestone, whilst Allenby came third.

Check all the USPGA betting here.

Mickelson at 18/1 and Furyk at 33/1 follow Woods in the betting, however neither seem to pose true value. Mickleson, who has a poor record at Firestoen, looks short at 18/1 as does Furyk, who played very poorly at the Buick Open last week. Lee Westwood, however, is also priced at 33/1 and looks good value for a place this week. Despite not winning in two years, he still manages to place regularly, coming third at Turnberry and running up this time last year at Firestone. He therefore has good memories of the course and will be looking to challenge Woods this week.

Elsewhere US Open Champion Lucas Glover is overpriced at 100/1, he came fourth at Firestone in 2006 and his big hitting will suit the course. There is much more eachway betting to get stuck into and most recently Hunter Mahan’s price has been shortened to as low as 25/1, however there is still some 33/1 available. It is worth following the markets in the build up to the start of play to see which players are fancied. Click here to go to the winners market.

Bookies have a rule called ‘palpable error’ which means that if one of their members of staff offer you odds on a an event that are clearly wrong then they have the right to void the bet.

Below is an interesting story from The Times about the caddy of Shane Lowry, the amateur golfer who won this year’s Irish Open. His amateur status meant he wasn’t permitted to pick up the 500,000 euros first prize but it was widely reported that his caddy had a large bet on the amateur at 3000-1.

The Times story tells how, when his brother (who put the bet on for Noel Egan, the caddy) went to pick up his winnings, he was told by bookies Paddy Power that the odds had been wrong and that they would not be paying him out:

Noel Egan grew up with Shane Lowry in Clara. They were best friends from the time kids first make friends. Last week people were asking what Shane is like. He told them all the same thing. “Shane Lowry,” he says, “is the nicest fellow I’ve ever known. Always was, always will be. Has a smile for everyone, just a lovely jolly fellow.” And they ask how he’ll do on the pro tour. “To do well,” says Noel, “he only has to be Shane.”

A few days before the Irish Open, Noel was having a drink in his local, Baggots Back Door in Clara, when a friend of his called and said the Paddy Power bookmakers in Tullamore were going 3000-1 Shane to win at Baltray. Egan genuinely felt Shane could win the Irish Open and though he made only three bets in his life and never staked more than ten euro, he decided to put 50 each way on his best friend.

The difficulty was that when he put his card into the hole in the wall, the response was disappointing. His brother Gerard agreed to loan him the hundred but when Gerard got to the bookies, he rang and said he’d put 25 each way on for him. “Fifty is enough,” said Gerard. “No,” said Noel, “please put on 50 each way.” If the truth is told, Noel Egan had already calculated his winnings, 187,000 euro – enough to set him up for life.

Gerard agreed. And he had 25 each way for a friend, ten each way for another friend and ten each way for himself. On Friday evening after Shane shot 62 and was joint leader going into the weekend, Noel felt the 187 grand was in the bag. He couldn’t help thinking of what he might do with the winnings. He would pay off his ten grand loan at the Credit Union, he would change his nine-year-old car that leaks oil onto the driveway at his parents’ home, he would buy his mum something lovely and he would take Shane shopping.

Then on Monday morning, after the show was over, Noel saw it in a newspaper. A spokesman for the Paddy Power organisation said there had been a mistake, some punters had been given 3000-1 Shane Lowry to win the Irish Open when the price should have been 300-1. They had tried to contact the punters who had been given this “erroneous” price but had not got to all of them. Noel Egan and his brother’s friends hadn’t heard a thing from Paddy Power.

Their dockets said 3000-1. It was the price they had been given. Gerard, a mild-mannered man, spoke with a high-up representative of the bookies. He was told Paddy Power didn’t mind bad publicity and that if the lads took on the might of Paddy Power, they wouldn’t win and might get nothing. Then they were offered 1000-1, and had until the following morning to decide. They then got another call and were told the 1000-1 offer was available for ten minutes and then it would be withdrawn.

Ten minutes to decide, Noel Egan accepted. Even if it was 125 grand short of what he felt entitled to, 62 grand was a lot of money. But that’s not the reason Noel accepted. Rather it was out of loyalty to Shane, the truest friend he’s ever had. “I know what was done to us was wrong. With that ten minutes thing, I feel we were blackmailed. But how could I complain about getting 62 grand when Shane played unbelievable golf to win a tournament worth 500 grand and didn’t get a penny. What kind of ungrateful bastard would I have been to say 62 grand wasn’t enough?”

From: http://www.timesonline.co.uk/tol/sport/golf/article6349967.ece?token=null&offset=36&page=4

This is an interesting case. Paddy Power have to have rules in place that protect them from staff deliberately colluding with customers to cheat them out of winnings. If a horse is 5-1 and the staff member writes 50-1, Paddy Power cannot be realistically expected to pay out at ten times the true odds.

But what price should Shane Lowry have been to win the Irish Open? Certainly 300-1 feels a bit short but 3000-1 would have been ridiculous. The complete outsiders in most golf tournaments are priced around 500-1 but they are usually pros, so 750-1 is probably about the right odds. At 1000-1 Paddy Power have probably erred on the side of generosity but it would be interesting to see some screenshots of Paddy Power’s pre-event markets to see whether they really were going 300-1 before the off or whether the 3000-1 was ever available.

The Players Championship may not have major status, but it is still one of the betting highlights of the golfing year. This week we also have the Italian Open and the Michelob Ultra Open, but all eyes will be on Tiger Woods at Sawgrass.

The Final Round is on Mothers’ Day, and Stan James go 5/2 about another playoff.

Tiger Woods has a shocking record at Sawgrass, but is still the 4/1 favourite. Since he won in 2001, he has not finished in the top ten in six appearances. Admittedly he has finished in the top ten in the last four tournament, but with that record he is probably a place lay (bet that he doesn’t make the top ten). 

Laying at 1.51 on Betfair, you are getting odds of 2/1 that Tiger doesn’t finish in the top ten.

Boylesports, Stan James and Paddy Power are all paying six places, meaning that we can find options at bigger prices.

Sergio Garcia beat Paul Goydos in a playoff last year, but can still be backed at 40/1. His last top ten finish came in January and he clearly isn’t at the top of his game.

2007 winner Phil Mickelson has been nibbled at 11/1, and is an obvious alternative to the favourite. He could even become the new Number One this weekend. His playing style suits the course because it demands a mixture of shots.

Kenny Perry will also have his backers at 35/1, but is in danger of another meltdown. His Masters conqueror, Angel Cabrera, has missed four consecutive cuts here and is a huge 125/1.

The End of Round One Leader is anyone’s guess, but the Top American market is another one to oppose Woods in at 3/1.

Luke Donald has been backed into 40/1, and Brian Gay has also attracted money at 80s.

Jeff Klauk is an interesting bet at 150/1. The rookie grew up at TPC Sawgrass and should know the course very well indeed.

Anthony Kim is too erratic at 50/1, but Bubba Watson makes more appeal at 125/1, given that he tied for second at Quail Hollow.

bookies.com is your best bet for comparing golf odds between the bookmakers:

The Players Championship 2009 Winner Betting

The Players Championship 2009 Tournament Match Bets

The Players Championship 2009 Place Betting Top 10

The Players Championship 2009 Round Betting

Italian Open Betting

Michelob Ultra Open Betting

Angel Cabrera was a brilliant result for the bookies in the 2009 US Masters, beating off Kenny Perry and Chad Campbell in a play-off at Augusta.

Cabrera was matched at 169/1 before the tournament began on Betfair, and became the lowest rated Masters winner since rankings began in 1986.

Bet365 will be glad that they offered punters the chance to bet in-play. Plenty took the 1/10 available about Perry before teeing off at the 17th.

Campbell was matched at 1.63 on the exchanges, but a bunker ruined any chances he had.

Tiger Woods was the 9/4 tournament favourite, but ended up tying for 6th place. Bookies offering each way terms weren’t too happy with 9/1 Phil Mickelson; who finished 5th.

The likes of Stenson, Nick Watney, McIlroy, Paul Casey and Lee Westwood all had their backers, but in the end the World 69 took the green jacket.

Woods is the 9/4 favourite for the 2010 Masters, whilst Cabrera is 12/1 with Sky Bet in the Race To Dubai Betting.

bookies.com is your best bet for comparing golf odds between the bookmakers:

Race To Dubai Betting

2010 US Masters Betting

Ryder Cup Betting