2012 Masters Betting Odds, Prop Bets

The 2012 Masters officially begins on Thursday in Augusta, Ga. With most expecting a battle between Tiger Woods and Rory McIlroy for the right to wear the famous green Masters jacket.

Woods coming off a win at the Arnold Palmer Invitational at Bay Hill is the Las Vegas favorite to win this weekend. Woods hasn't won a major since 2008 when he was embroiled in controversy over his extramarital affairs, but seems to be peaking at the right time.

RJ Bell of Pregame.com has Woods as the 5 to 1 favorite to put on another green jacket. The other main contender is McIlroy, who set a blistering pace last year at the event before an epic collapse in the final round. He bombed badly in the last round but responded strong by winning the U.S. Open in his next major opportunity.

Here are Bell's odds for the Masters as well as a collection of interesting prop bets.

Odds to win Masters:

TIGER WOODS: 5 to 1
RORY McILROY: 6 to 1
PHIL MICKELSON: 12 to 1

LUKE DONALD: 16 to 1

LEE WESTWOOD: 20 to 1
HUNTER MAHAN: 25 to 1
KEEGAN BRADLEY: 25 to 1
ADAM SCOTT: 26 to 1
JUSTIN ROSE: 28 to 1
BUBBA WATSON: 38 to 1

JASON DAY: 40 to 1
CHARL SCHWARTZEL: 40 to 1

NICK WATNEY: 45 to 1

K.J. CHOI: 48 to 1

Masters Props:

Will Tiger Woods OR Rory McIlroy win the Masters?
Yes: 27% ($100 wins $250)
No: 73% ($300 wins $100)

Who will finish higher?
Tiger Woods: 60%

Phil Mickelson: 40%