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What is a dead heat bet?

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The term dead heat — when two participants finish exactly even — got its name from racing.

But it comes up far more often in golf betting.

A dead heat refers to ties in finishing position bets like Top 5s, Top 10s and Top 20s, or other golf markets like 3-ball matchups and first-round leaders. When players tie, your bet amount is usually cut by how many players are tied for those spots. So part of your bet is a loser, and the remainder stands at the original odds. BetMGM is the only U.S. book we can find that pays all ties in full for finishing position bets like full tournament Top 5s or Top 20s. MGM does not pay out in full for first-round leader bets.

So what exactly is a dead heat, and how are the payouts calculated?

Here’s an example from the 2020 Charles Schwab Challenge, with dead-heat situations on both Top 5 and Top 10 wagers. Bet golf at BetMGM and get a risk-free bet up to $1,000. Bet Now

Dead Heat Example

Place Golfer Score 1 Daniel Berger -15 2 Collin Morikawa -15 T-3 Justin Rose -14 T-3 Bryson DeChambeau -14 T-3 Jason Kokrak -14 T-3 Xander Schauffele -14 T-7 Bubba Watson -13 T-7 Patrick Reed -13 9 Gary Woodland -12 T-10 Sungjae Im -11 T-10 Jordan Spieth -11 T-10 Justin Thomas -11 T-10 JT Poston -11

Top 5 Example

This event had four players tied for third. They occupied positions 3-6 on the leaderboard. Therefore, if you bet any of them to finish Top 5 at a book that applies dead heat rules (which is pretty much all of them in the United States), your stake was cut to 75% of the original bet. That’s because there were only three spots for four tied players in the Top 5. A $40 bet on Justin Rose at +900 to finish Top 5 becomes a $30 bet. You lose the other $10. Here’s what you expected before the tournament had the bet cashed, and your actual result: Stake Bet Total Return Pre-Tournament: $40 Rose Top 5 (+900) $400 Result: $30 Rose Top 5 (+900) $300

Top 10 Example

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Tenth-place at the Charles Schwab also had dead-heat rules apply, but because there was only one spot available for four tied players, your stake would take an even bigger hit. Justin Thomas to finish Top 10 before the tournament was around +200. Your stake would be cut by to 75%, with only the one spot available for four players. So a $100 bet on Thomas becomes a $25 bet at +200. That means you profit $50 and you lose the other $75 originally wagered, resulting in a net loss of $25.

Here’s what you expected before the tournament, and your actual result:

Stake Bet Total Return Pre-Tournament: $100 Thomas Top 10 (+200) $300 Result: $25 Thomas Top 10 (+200) $-25

Bet at PointsBet and get $250 FREE. Bet Now

3 Ball Example

As we’ve touched on, most books will take half your bet amount, and then apply the same odds to the remainder of your bet. It works the same for 3-ball matchups. In a matchup with two golfers, a tie will just result in a push and your money back. Let’s say you bet a 3-ball matchup at the 2022 PLAYERS in Round 1:

Will Zalatoris +110

Harold Varner +210

Charley Hoffman +270

Zalatoris and Varner tied. If you bet $20 on Zalatoris, you’d lose $10 of that because of the dead heat. The remaining $10 is a winner at +110. So that returns $21 total on a $20 bet … good for $1 in profit.

Why Does it Matter if the Stake or Odds Are Cut?

At most sportsbooks, your stake will be cut by the number of tied golfers relative to the spots available. Some others will cut the odds. And there could be a big difference in money depending on the bet. MGM doesn’t have dead-heat rules at all for bets like Top 20s, and will pay ties in full. PointsBet cuts the odds. Most others cut the stake. You won’t notice a difference between the stake and odds getting cut when betting $10 on a 100-1 first-round leader longshot, but when betting Top 5’s, 10’s and 20’s at lower odds, you can lose money on a dead-heat result, like the Thomas example above.

But you almost always want the odds cut, not the stake.

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Let’s say Rory McIlroy is +200 to finish top 20, and he finishes in a two-way tie for 20th. In this case, it’s clear you’d rather have the odds cut to +100 than the stake cut to $50.

$100 at +100 = $200 total return

$50 at +200 = $150 total return

Even if you’re betting longshots, where the stake is small and the payout is large, you’d want to have the odds cut. Let’s say Jason Kokrak is 24-1 to finish Top 5, and he ties for fifth with two other players.

$100 at +800 = $900 return

$33.33 at +2400 = $833.33 return

Of course, you’d rather have no dead-heat applied at all. So bet at MGM if you can.

Which Books Do What?

No dead heat is a tremendous advantage for bettors, assuming the prices are comparable to other books. (It’s really difficult to put exact math on it, but if the prices are far worse at a non-dead heat book, it’s not worth the hopes of getting paid in full).

MGM’s prices are usually pretty comparable to the other books.

Legal U.S. books with no dead heat for finishing position bets:

Some of MGM’s odds for finishing position are worse than the market, but others aren’t. Typically, dead heat books will offer slightly better odds overall, but that doesn’t mean they’ll have the best odds on every golfer. Here’s how much each book held from their Top 20 market for the 2020 RBC Heritage. Book Hold Grading PointsBet 26.4% Odds Cut BetMGM 26.7% No Dead Heat Bet365 22.05% Stake Cut

Odds are cut, not the stake:

Books where the stake is cut:

DraftKings

FanDuel

SugarHouse

Parx

Caesars

Bet365

TheScore

Golden Nugget

Bet365 will cut the odds, not the stake, for certain bets like first-round leaders. FanDuel, on the other hand, will cut the stake for FRL bets and finishing position bets.

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