Few sports can match golf for in-play betting drama. And, when the pressure is on, the Betfair Exchange is the place to get stuck in to the in-play action.
The 2016 Masters offers the perfect example.
Going into the final day of the 2016 Masters, reigning champion Jordan Spieth held a one-shot lead and was the clear favourite with Betfair Exchange customers, who made the ice-cool young American 2.68/5 to win.
In the course of the next four hours he would go from near certain winner to no-hoper.
Smoothly does it as Spieth goes odds-on
Spieth had dominated the 2015 Masters, setting a number of records as he took his first green jacket, and he was fancied to repeat, going off at 12.011/1 to win consecutive Masters. And his backers looked to have done the right thing, as he was having a great tournament in 2016.
He began Sunday as the most obvious winner and started so smoothly that a second Green Jacket looked almost guaranteed.
From the sixth hole Spieth fired four birdies in a row and by the time he walked off the ninth green he held a five-shot lead.
Bettors on the Betfair Exchange were impressed. Our odds move with every shot as our customers react to the action, backing and laying bets on the Exchange. As Spieth walked off the ninth green Exchange punters made him a heavy odds-on favourite at just 1.091/11 to win. At those odds a £10 bet would yield a 90p return.
Solid, unspectacular golf would see him home now.
But that is easier said than done at Augusta.
Amen Corner claims a famous victim
In just three holes that enormous lead was lost as Spieth suffered one of the most painful meltdowns we’ve ever seen at Augusta.
A bogey at 10 was followed by another at 11.
And then came the 12th. It may be the shortest hole on the course but don’t confuse a lack of length with easiness.
Spieth fired his tee shot into the water, then did it again, then found sand. It all added up to a quadruple bogey and his lead was gone.
All of a sudden, Britain’s Danny Willet held the lead and had flipped from 48.047/1 outsider to 1.618/13 favourite. His lead gone, Spieth was out to double figure odds.
Willet would go on to win by three shots from Spieth in an incredible turnaround.
It just goes to show that nothing is guaranteed at The Masters and the drama is as much on the Exchange as it is on the fairways and greens of Augusta.