Masters 2012 Odds: Jason Day and Biggest Bangs for Your Buck at Augusta

Tiger Woods hasn't won the Masters since 2005, but he hasn't finished any worse than sixth at Augusta in the last six years either.

After his Arnold Palmer Invitational win at Bay Hill a week ago, the 14-time Major winner has vaulted to the top of the board and been made the favorite for the Masters at 4-1 odds, according to Bovada.

Following closely behind Tiger are Rory McIlroy and three-time Masters winner Phil Mickelson, both at 11-2.

All three have a legitimate shot of donning the green jacket this year and have earned their place at the top of board.

As it goes, there are better bets—at least in terms of value—and you don't have to look far to find the biggest bang for your buck.

Jason Day

A runner-up at both the Masters and U.S. Open last year, Day has yet to win a Major, but is one of the more intriguing players in the field. 

At 40-1, Day offers a solid number and a solid chance to win.

He's teed off four times so far this season and finished in the top 20 in three of the four events.

K.J. Choi

At 66-1, Choi is arguably the best price on the board.

Unlike many of his peers, Choi has actually played rather well at Augusta in recent years. He's finished in the top 10 in both 2010 and 2011.

Choi hasn't been playing particularly well of late and finished only tied for 36th at the Arnold Palmer Invitational last week.

If he turns it on he could make a play.

Adam Scott

Like Day, Scott finished tied for second in last year's event.

He landed a big win at the WGC-Bridgestone in August and finished seventh in the PGA Championship a week later.

At 33-1, Scott won't pay off as well as Day, but he's played in three tournaments so far this year and finished in the top 25 twice. If gets on his game he could make another charge.