The US Masters is the first major tournament on the golfing calendar and is one of the biggest sporting events of the year. It is held annually at Augusta National Golf Club in Georgia and brings together all of the best golfers from both the PGA Tour and European Tour.

The Masters is arguably the biggest golf betting event of the year and there are several different strategies which can be used when wagering on the event. Here is some advice to help decide on how to maximise your chances of making a profit on US Masters bets:

The US Masters is the only one of golf's four major championhips that is held at the same venue each year and, as a result, course form is very important. It is no coincidence that once a player wins one Green Jacket they tend to come back to Augusta and repeat the feat. Tiger Woods has won the Masters four times, Phil Mickelson has three Green Jackets while Jose Maria Olazabal, Nick Faldo and Seve Ballesteros all have two Masters title. The great Jack Nicklaus was champion an incredible six times at Augusta National.

This makes it important to immediately consider those players who have previously won the Masters and also have a look at those who are consistent around Augusta. The course rewards powerful drivers and those who are willing to attack pins with their iron shots. The conditions tend to be pretty good and so players who thrive in high winds or rain are less likely to benefit around the Augusta National. This could explain why there has been no European champion since 1999.

Perhaps because of the perfect course conditions there are very rarely 'shock' winners of the US Masters. The list of past champions at Augusta reads like a who's who of golfing greats with players like Woods, Mickelson, Faldo, Ballesteros, Nicklaus, Ian Woosnam, Gary Player, Arnold Palmer, Ben Hogan and Sam Snead all having their name etched on the trophy. The best players in the world tend to thrive at Augusta National and younger players who have a breakthrough at the Masters, such as Rickie Fowler, Jason Day, Rory McIlroy and Anthony Kim tend to be class acts, rather than flash in the pan golfers, as is often the case at the British Open where course rotation, poor weather and extreme playing conditions often result in some freak results.

Golf betting can be very profitable as it doesn't often feature short priced winners. Tiger Woods apart, there are no outstanding players on the PGA Tour, which leads to competitive prices from bookmakers. The top firms will also offer enhanced place terms with the top six finishers paid out at 1/4 odds. This means that punters can back more than one golfer, at generous odds, and even if one doesn't win then the returns for finishing in the places can still be very good.

As with enhanced place terms, it is important to shop around for the best offers and money back specials for any bets on the US Masters. The biggest bookmakers will all have generous welcome bonuses for new customers while returning players can also benefit from money back specials on the Masters. In 2012 Paddy Power are refunding all losing bets on the tournament if Tiger Woods wins the Masters title and there are similar offers from other firms that have to be considered. These offers could be the difference between a win and a loss on the final day.

The obvious market on the US Masters is the winner market and that is where most people will want to place their bets but it is always worth looking at alternative markets offered by bookmakers. Often there can be value to be had in markets such as top European, top American or top Australian player. Having some specific knowledge about specific players and how you expect them to perform around Augusta can become profitable if there is a market to suit. Considering that there are now more than 25 pre-tournament markets on the US Masters plus a whole host of match betting opportunities once the event is underway, this shouldn't be too hard to find.

All of the top bookmakers now offering live in-play betting on the US Masters and this can be a fantastic way to bet on the tournament. Whether you want to simply watch how a player begins his round before deciding to back him or if you are keen to lay off some of you liabilities on a pre-tournament bet ahead of the final few holes there will be the chance to do it live in-play during the US Masters. Odds are updated not just after every hole but after every shot and with the event televised around the world, you can follow all the action and bet in play the second you want to.