He isn't the only favorite with a good chance of winning The Open Championship at Muirfield, either.
Woods is the heavy betting favorite to win, according to Bovada, and there aren't any surprises at the top.
Adam Scott and Justin Rose—winners of the year's first two major championships—come in just below Woods, while Phil Mickelson and Graeme McDowell round out the top five.
Last year's winner, Erine Els, is also considered as a moderate favorite to win, as are Rory McIlroy, Sergio Garcia, Lee Westwood, Jason Day and Luke Donald.
Of these 10 men, here are the golfers you should feel most comfortable betting on.
All odds courtesy of Bovada
Tiger Woods (8-1 Odds)
He'd won four tournaments in his first six stroke-play events and came awfully close to winning his 15th major championship at the Masters in April, finishing in fourth place.
But after a poor showing at the Memorial and then re-aggravating his strained left elbow in the 2013 U.S. Open, Woods was suddenly at a low point. He took a month off, skipping the AT&T National, in order to rest his ailing joint.
Woods has been playing nine rounds a day at Muirfield this week leading up to The Open Championship, which he says was the plan all along according to Bob Harig of ESPN.com. He added: "That was the plan, not to push it on the amount of holes, especially on hard ground...I just wanted to make sure that I'm rested and feel fit and ready to go for the championship."
With good health, Woods will do what he's always done in major championships—he'll be right there in the thick of it on Sunday afternoon.
Phil Mickelson (16-1 Odds)
It takes a certain amount of flexibility and imagination to win on links golf courses.
Mickelson has always been a player who struggled on such courses, as his game is better suited for courses that reward high, arcing shots that land softly on receptive greens. It's no accident that of his four career major championships, three have come at Augusta National.
But Lefty has worked hard to develop the game to compete on links courses, and his hard work finally paid off this past weekend when he won the 2013 Scottish Open. It was his first win on UK soil, and he appears to be oozing confidence as he gets ready for the British Open this week.
Furthermore, since Lefty's disappointing showing at the Masters, he's been on an impressive tear, posting two second-place finishes to go along with his recent win.
Mickelson is on fire right now, and you'd be foolish to bet against him.
Ernie Els (28-1 Odds)
Els has managed to play himself into contention in nearly every British Open since the year 2000, posting nine top-10 finishes in the past 13 years.
For his career, the two-time Open Championship winner has logged 13 top-10 finishes while missing the cut just three times in his 22 previous appearances.
An accurate driver of the ball, Els' easy swing and impossible-to-fluster demeanor have served him well on the links courses of the United Kingdom.
Furthermore, even though he hasn't won an event this year, he has played well in both major championships thus far, finishing in 13th place at the Masters and fourth place at the U.S. Open.
While it's impossible to predict what will happen once players start teeing off on Thursday, it's a safe bet to put your money on Els at the British Open.
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