Before making your Masters bets, it might pay to take heed of the following 'golden rules':

1. Experience is king

The Masters is always played at Augusta and the same players tend to go well there year on year - and those who don't tend to keep on struggling. That's down to the course pure and simple as, of all the Major venues, Augusta takes the most learning. Knowing when to attack and when to play conservative is key, as is the ability to 'stay out of trouble' with one bad shot easily compounded, making for a double or triple bogey - or worse! Of course, the fiendish, lightning-fast greens can never be totally mastered, but experience counts for plenty here also. 

Phil Mickelson's three victories, four thirds, two fifths, a sixth, a seventh and a tenth, clearly make him one of the most experienced players in the field.

2. Beware debutants

Following on from the above, it's clear Augusta is no place for a novice. Indeed, you have to back to 1979 to find the last winning debutant in Fuzzy Zoeller, while every winner since was making at least their third Masters appearance. Debutants can go well if they have a hot putter, as Luke Donald did in 2005 (tied-third), although he was the last one to make the frame and some good players since have struggled on their early attempts. 

So, as talented as the likes of Keegan Bradley, Webb Simpson and Kyle Stanley are, it takes a leap of faith to back them in the outright market on their debuts.

3. Length rules OK

Short-game skills probably outweigh the need to hit the ball miles off the tee but length is still a big factor, especially on the four par-5s: the 2nd, 8th, 13th and 15th. The latter two in particular offer genuine birdie / eagle opportunities and the ability (and bottle) to go for the green in two will be pivotal to shooting a low score. Clearly, bigger hitters like Bubba Watson and Rory McIlrory will always have an advantage, although they will have to back up their length with some quality iron play and solid putting to have any chance of winning.

4. Know the course

Punters who do their homework stand more chance of winning in the long term and in-running punters, in particular, should get to know Augusta inside out. The opening hole is a tricky par-4 so it might pay to wait until the player you want to back has safely negotiated this, especially as the next couple of holes - the par-5 2nd and easy par-4 3rd - offer excellent birdie opportunities. If your man is in good shape after the first eight holes, it might be a good time to lay off as the trio of par-4s from the 9th are very demanding, while the par-3 12th is no picnic either. Once through there, birdies or even eagles are very much in range over holes 13-15 (which include two par-5s), so now is the time to back players to make their move. 

Clearly, if two players are on the same score, the one about to play the 13th is in a far better position than the one standing on the the 9th tee!

5. Wait until Sunday

It's a well-known stat that the winner invariably comes from the final paring on Sunday, with 18 of the last 20 winners meeting that criteria - the exceptions being last year's winner Charl Schwartzel (who was in the next to last pairing) and Zach Johnson in 2006. The reason being Augusta is a hard course to play 'catch-up' on and it therefore doesn't pay to look too far down the leaderboard if you decide to wait until the weekend before getting involved.

6. Shop around

Last but by no means least, shop around for the best prices and offers. Any discerning golf punter will already have multiple bookmaker accounts as opinion often varies wildly amongst golf odds compilers. Why back a player at 25/1 when you can get 33/1 elsewhere?

Take Tiger Woods for example. He's as short as 4/1 in a place but can be backed at 5/1 with bet365 and Skybet. Fancy last week's winner Hunter Mahan to go well? The American's price varies from 25/1 to 33/1 (William Hill), so I don't need to tell you where to place your bets. 

Boylesports, Paddy Power and Stan James are paying out on the first six places at one quarter the odds, as opposed to the usual five places, and to their credit they are still offering competitive prices. That extra place could mean the difference between a winning or losing week. 

Paddy Power have pledged to refund all losing outright win bets if Tiger Woods wins this week, which they might come to regret on Sunday. They are also top price on Lee Westwood at 20/1 so you'd be daft to bet elsewhere if you fancy the Worksop man to land his first Major. 

Good luck with your Masters bets!