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Two of the three pre-tournament favorites remain atop the odds board at Caesars Sportsbook after the first round of the 2023 Masters. World No. 3 and first-round co-leader Jon Rahm occupies the top spot after a stellar 7-under 65 put him alongside Viktor Hovland and Brooks Koepka atop the leaderboard.

Listed at 3-1, the Spaniard's price has shortened significantly as has that of Scottie Scheffler. The defending champion posted a 4-under 68 on Thursday despite ranking 85th out of 87 golfers in strokes gained putting. Trailing only Rahm in strokes gained tee to green, the Texan now trails only Rahm from a betting perspective at 9/2.

Fellow first-round leaders Brooks Koepka and Viktor Hovland follow the two-headed monster at 13/2 and 9-1, respectively. Jordan Spieth, Cameron Young and Jason Day all find themselves on the first page of the odds board and occupy the space before reaching the name of Rory McIlroy. The four-time major champion entered this week eyeing the career grand slam in his 15th Masters appearance. McIlroy disappointed in the first round with a 72 and as such has dropped to 20-1.

Xander Schauffele, Tony Finau, Collin Morikawa and Sam Burns all find their names listed below 30-1 and in with a chance to claim the 87th edition of the Masters.

Watch the 2023 Masters continuing Friday with Masters Live as we follow the best golfers in the world throughout Augusta National with Featured Groups, check in at the famed Amen Corner and see leaders round the turn on holes 15 & 16. Watch live on CBSSports.com, the CBS Sports App and Paramount+.

Here's a look at the odds of the top players in the field of the 2023 Masters, according to Caesars Sportsbook.

2023 Masters odds

Favorites

  • Jon Rahm: 3-1
  • Scottie Scheffler: 9/2
  • Brooks Koepka: 13/2
  • Viktor Hovland: 9-1
  • Jason Day: 10-1
  • Cameron Young: 18-1

The five names under 20-1 are the top five names on the leaderboard. It is hard to look past the first two as both Rahm and Scheffler gained roughly eight strokes from tee to green. Rahm's putting numbers were skewed from his 4-putt on No. 1, while Scheffler's were just downright awful. The world No. 1 posted -3.50 strokes gained putting in Round 1 (ranking 85th out of 87), the sixth worst mark of his career. 

Contenders

  • Jordan Spieth: 20-1
  • Rory McIlroy: 20-1
  • Xander Schauffele: 20-1
  • Tony Finau: 25-1
  • Collin Morikawa: 25-1
  • Sam Burns: 28-1

Spieth is enticing, but then you remember what he did on the 11th and the 13th on Thursday and you think better of it. Instead, Schauffele may be the steady riser who can summit this mountain come Sunday. He ranked seventh from tee to green and third in strokes gained approach in Round 1. Outside of a couple wayward drives, Schaffuele had a flawless performance and if he cleans those up, he should be there.

  • Shane Lowry: 45-1
  • Justin Rose: 45-1
  • Justin Thomas: 50-1
  • Dustin Johnson: 55-1
  • Cameron Smith: 55-1
  • Adam Scott: 65-1
  • Patrick Cantlay: 65-1
  • Matt Fitzpatrick: 80-1
  • Max Homa: 90-1

This is the range to throw a couple darts and there are some absolute beauties. Cantlay ball-striked the crap out of the ball on Thursday ranking fourth in strokes gained off the tee and strokes gained approach. If the putter heats up, he could still be alive. Thomas and Smith can get as hot as anyone and would not be surprising to see make a charge.

Who will win the Masters 2023, and which longshots will stun the golfing world? Visit SportsLine now to see the projected Masters leaderboard, all from the model that's nailed eight golf majors, including last year's Masters.

Longshots

  • Gary Woodland: 100-1
  • Tyrrell Hatton: 125-1
  • Sungjae Im: 150-1
  • Hideki Matsuyama: 150-1
  • Tom Kim: 150-1
  • Joaquin Niemann: 150-1
  • Ryan Fox: 225-1
  • Keegan Bradley: 250-1
  • Tommy Fleetwood: 250-1
  • Patrick Reed: 275-1
  • Sam Bennett: 300-1

Are any of these players going to win the Masters? Probably not, but if forced to make a decision it may have to be the 2018 champion. Reed was middle of the pack in the ball striking categories but with the impending weather rolling into Augusta National, he may thrive. He still possesses some of the softest hands in professional golf and is the ultimate grinder when the going gets tough. It's unlikely he makes up a six-stroke deficit, but not impossible, especially at 275-1.