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Ace betting is the same as betting on a hole in one in golf. Both terms are used in the sport.
Aces are rare occurrences that usually happen on par three holes, but have been recorded by players on a par four hole. An ace gives a score of 1 on any hole, using the player’s first swing.
On a par three hole, a hole in one – or ace – leaves the player with an eagle, which is a score two below par and is considered a significant achievement for a golfer.
Tournaments on the European and PGA Tours often offer a hole in one prize, usually in line with the sponsor of the hole or tournament.
Betting on an ace can be an intriguing market. Some bookmakers offer multiple sub-markets on ace betting, such as the total number of aces that might be recorded in a tournament, in which round an ace may occur, and even individual ace player options.
An example of ace betting in golf would be to back Tiger Woods in the Masters to record an ace in any of his possible four rounds.
Shorter par three holes have the best chance of an ace but with players increasingly able to drive further on par fours, the likelihood of an ace on a par four has increased. The yardage of a course will be a factor in ace betting – the longer the yardage, the less likely an ace.
The odds of a golfer of average ability playing on a 200-yard par three hole hitting an ace have been calculated at 150,000/1.
However, a tour player in 1971 aced back-to-back holes in a single tournament. The odds of doing so were calculated at 50m/1.