Masters 2016: Latest Odds and Expectations for Golf's Top Favorites and Sleepers

Few events in sports can match the feeling of Sunday afternoon at Augusta National Golf Club with a Masters title on the line. And, based on the number of legitimate contenders in the field this week, the 2016 edition of the tournament should feature a dramatic finish.

There are a lot of great players performing at high levels right now, but nobody is dominant. That's why the odds are so bunched together. Jason Day is the rightful favorite, but it's not by an overwhelming margin. The parity at the top sets the tone for an entertaining week.

Let's check out the oddsmakers' top choices for the season's first major. That's followed by a closer look at the main contenders and a couple sleepers worth keeping an eye on.

2016 Masters Odds

Rank	Golfer	Line
1	Jason Day	+700
2	Rory McIlroy	+950
3	Jordan Spieth	+1000
T-4	Bubba Watson	+1200
T-4	Adam Scott	+1200
6	Rickie Fowler	+1600
7	Phil Mickelson	+1800
8	Dustin Johnson	+2000
T-9	Justin Rose	+2500
T-9	Henrik Stenson	+2500

For more tournament odds, visit Odds Shark.

Top Contenders: Jason Day, Rory McIlroy and Jordan Spieth

Day, McIlroy and Spieth are leading golf into a new era where there isn't a singular force standing all alone on the mountaintop in the form of Tiger Woods. Woods announced last week he wouldn't compete at the Masters as he continues to recover from back problems.

Instead, there's a group of extremely talented golfers who are seemingly passing the "Best in the World" label around depending on who's on a hot streak that month. It's created a far more wide-open vibe heading into the major championships.

Each member of the elite trio has been compared to Woods when they are the one riding a wave of good form to multiple victories. The reality is, however, finding another player to reach the level Tiger did during his prime is a search that may come up empty for a long time.

Yet, they are making him up in the aggregate. One player is always a little bit ahead of his friendly rivals to earn the favorite label when a major arrives. Right now, it's Day. He's won the last two events he entered, the Arnold Palmer Invitational and the Accenture Match Play.

Golf Digest highlighted the picture-perfect swing that's made Day's success possible:

But it's Spieth who enters as the defending champion. The most impressive thing about his triumph is how quickly he's mastered Augusta. He finished in a tie for second in 2014, his first appearance, and then pulled away from the field to win last year.

While other players spend their entire career trying to conquer the legendary course, Spieth has made it look easy during the early stages of his career. He explained to Jim McCabe of Golfweek the one trait that's allowed him to adapt so quickly compared to other golfers.

"Imagination," Spieth said. "I think very feel-based. I like putts that break. I like being able to cast something out and let it feed in. That's what this course gives."

Then there's McIlroy. He's won each of the other three major titles, but the green jacket still eludes him as he looks to complete the career Grand Slam. Perhaps this year, with the attention being spread so evenly rather than focused on Woods and himself, he can finally break through.

Although he's yet to win a tournament in 2016, he's been in the mix. He's finished in the top 10 four times in seven worldwide starts this year. The Northern Irishman just has to hope he peaks at the right time in his eighth Masters appearance.

McIlroy certainly seems dialed in, as noted by Kelly Tilghman of Golf Channel:

Ultimately, if forced to choose between Day, Spieth and McIlroy or the rest of the field, it would be difficult to pick against the top three oddsmakers' choices. They are all playing well, which means the chances that one of them gets hot and wins the tournament are pretty high.

The mystery is which one of them will rise to the occasion this time around.

Sleepers: Patrick Reed and Danny Willett

If the winner isn't Day, Spieth or McIlroy, the race for the green jacket becomes even more wide open. Reed and Willett are two players a bit off the radar with the games necessary to pull off the upset.

Reed has never lacked confidence, telling NBC in 2014 he believes he is a top-5 player in the world (h/t Ryan Lavner of golfchannel.com). He is coming off three straight top-10 finishes and has reached that mark in eight of his 12 events this season. He finished just outside the top 20 during his second start at Augusta last year after missing the cut in his 2014 debut.

Now he's looking to take the next step. David Westin of the Augusta Chronicle passed along the 25-year-old rising star's comments about becoming more in tune with the home of the Masters:

"

It was better. I felt a little more comfortable with the course. I felt like I hit the ball a little better. I putted decent; I won't say I putted great. That seems to be the main thing around there. You've got to putt well. You need to know where to leave yourself on all the flags. I still got myself last year on a couple of spots where I didn't put myself in the right spot and unfortunately those were where most of my bogeys came from.

"

As mentioned, what Spieth has done with his almost immediate success at Augusta is rare. For most players, it takes at least couple tournaments before they come to truly understand the course. Reed is starting to reach that point, and when you add in his natural talent, it makes him dangerous.

The same could be said for Willett. He's making his second appearance in the Masters after finishing a distant 38th last year. He did flash his potential en route to a sixth-place showing in the Open Championship, however, and is enjoying a strong start to the current campaign.

He's tallied four finishes inside the top five in just seven events. That includes a victory on the European Tour in the Omega Dubai Desert Classic, where he shot 19-under par to edge a field that also included McIlroy, Henrik Stenson and Ernie Els, among other notable names.

On a separate note, Willett probably feels like he's walking around on a cloud because his family recently got a little larger, as relayed by the European Tour:

It would make for quite a storybook moment if he's able to win the Masters after such a memorable week from a personal perspective.

Ultimately, this version of the Masters is extremely difficult to predict because there isn't an overwhelming favorite and there's no shortage of players with a realistic shot. It wouldn't be a shock to see a player like Reed or Willett steal the spotlight on Sunday.