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Tiger Woods has been given strong odds to win the 2018 Masters. Getty

Improved performances by Tiger Woods in recent weeks have sparked additional interest in the golf legend's chances of capturing his fifth Masters title. Woods hasn't won a major since the 2008 U.S. Open, but has momentum after an extended layoff from the PGA Tour.

Woods was listed as the favorite to win at Augusta National Golf Club at 9/1 odds, according to odds on March 18 from betting site Vegas Insider. He was followed by Dustin Johnson (11/1) and Jordan Spieth (14/1). Justin Thomas and Rory McIlroy were both listed at 15/1, while Justin Rose had 16/1 odds.

Phil Mickelson, who like Woods has won the Masters more than twice, is listed at 18/1. Mickelson is followed by two-time winner Bubba Watson, as well as Jason Day and Rickie Fowler, who were all listed at 20/1.

But Woods' odds have since improved, according to Sportsbook.ag. The betting site lists him at 8/1, though he is followed closely behind by McIlroy (9/1). The betting site also gives improved odds for Mickelson at 16/1. Sergio Garcia, the defending Masters champion, is listed at 25/1 odds.

Woods has been climbing since returning from a 10-month layoff and after his fourth back surgery. He competed in the Hero World Challenge in the Bahamas in late November and finished tied for ninth.

In his last two tournaments, Woods tied for second at the Valspar Championship and last week tied for fifth at the Arnold Palmer Invitational.

Woods has competed in just one Masters since finishing tied for fourth in 2013.

Masters Betting Odds (Sportsbook.ag)

Tiger Woods, 8/1

Rory McIlroy, 9/1

Justin Thomas, 11/1

Dustin Johnson, 12/1

Jordan Spieth, 14/1

Phil Mickelson, 16/1

Justin Rose, 18/1

Bubba Watson, 20/1

Jason Day, 20/1

Jon Rahm, 20/1

Rickie Fowler, 25/1

Sergio Garcia, 25/1

Paul Casey, 30/1

Tommy Fleetwood, 33/1

Hideki Matsuyama, 40/1

Alex Noren, 45/1

Henrik Stenson, 45/1

Thomas Pieters, 60/1

Adam Scott, 65/1

Matt Kuchar, 65/1

Patrick Reed, 70/1

Tyrrell Hatton, 70/1

Bryson DeChambeau, 75/1

Louis Oosthuizen, 75/1

Marc Leishman, 75/1

Brian Harman, 80/1

Brandt Snedeker, 85/1

Brooks Koepka, 90/1

Nine tied with 100/1