2012 Masters Gets Underway at Augusta

Action has begun at the 2012 Masters at Augusta National Golf Course and we've already got several players putting together some impressive looking scores as the European contingent gets off to a solid start.

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Tiger Woods remains the outright favourite for this one with a price that's been hovering around all day. His exchange listing was close to 7.5 while he was just teeing off and it subsequently dropped near 5.5 as he went one-under at the third hole.

Henrik Stenson and Martin Kaymer both began the day brightly with Stenson surging into a three-under position thru five holes. A large contingent of players are all sitting at one-under alongside Tiger Woods at the time of this writing and they include Scotsman Paul Lawrie, Stewart Cink, Padraig Harrington, Miguel A. Jimenez, Francesco Molinari, Sean O'Hair and Scott Verplank.

Within the top ten players, six hail from European shores.

The majority of bookmakers have Tiger Woods odds to win the 2012 Masters priced at around 4/1 with McIlroy trading at a 6/1 listing. This pair remain, early in the first round, as the only contenders with single digit prices.

Both Phil Mickelson and Luke Donald are listed at 12/1, while Lee Westwood trades at a 16/1 price tag.

A number of talented players are set to tee off later in the day. Already over 13 million has been matched on the exchanges with betting volume certain to pick up once the event starts being televised. Restrictive rules around television coverage of the Masters, particularly the first two days of the event, tend to curb all but the most rudimentary of live feeds with no actual broadcast happening until Saturday's action gets under way.

Look for some substantial swings in the betting markets as we get closer to the cut.