The Masters starts on Thursday. Here is a breakdown of the top 18 favorites and reasons why you should and shouldn't back them with your bucks:

Tiger Woods +230

Bet: Four-time champion. Seven top 10’s in 10 Masters starts. Has never finished worse than T-22 at Augusta as a professional. Tiger frickin’ Woods.

Back off: Paying +230 isn’t a lot of value, even for a guy who wins 40 percent of the time. Woods struggled on Augusta’s greens last year, and has struggled with his putting at times in 2007.

Phil Mickelson +900

Bet: Two-time and defending champion. His record at Augusta rivals Woods’ with 10 tops 10’s in 12 professional starts. Hitting the fairways continues to be his biggest problem, which shouldn’t hurt as much with Augusta’s short rough.

Back off: Finished T-36 and T-23 in his two starts leading up to The Masters and didn’t seem overly concerned about his poor play. 

Ernie Els +1300

Bet: As hungry for and deserving of a Masters title as any player in the field after a career that has seen six top 10 finishes in 13 starts, including a second place finishes in 2000 and 2004. Game appears to be returning with top 20 finishes in all three PGA Tour starts this year.

Back off: Hasn’t won a PGA Tour event since 2004, leaving questions as to whether or not his surgically repaired knee, operated on in late 2005, is fully healed.

Vijay Singh +1700

Bet: One of two two-time winners on tour this season along with Woods, and the 2000 Masters champion. Has five top 10’s in six starts since winning art Augusta (he finished T-18 in 2001).

Back off: Jack Nicklaus (age 46) would be the only player to win the Masters later in life than the 44-year-old Singh.

Retief Goosen +3400

Bet: Among the steeliest competitors in the game and a two-time U.S. Open champion. Finished T-3 at Augusta each of the last two years.

Back off: Finished T-51, T-18 and T-56 in three stroke play starts on tour this season.

Jim Furyk +3400

Bet: Great odds for the world’s second-ranked player.

Back off: A wrist injury forced him to pull out of Bay Hill three weeks ago. His history at Augusta isn’t great with three top 10’s in 10 career starts.

Adam Scott +3400

Bet: Ran away from the field last week at the Houston Open. Many experts’ pick as the Next Great Young Player.

Back off: Has struggled in four Masters starts since finishing T-9 in his first start at Augusta in 2001. Has never seriously competed at a major.

Henrik Stenson +3400

Bet: The hottest player in Europe with wins at Dubai and the Matchplay Championship as well as a pair of top 25 finishes in his only two stroke play starts in the U.S.

Back off: Has only played in seven majors in his career and has never finished better than T-14 (last year’s PGA Championship). He missed the cut in his only Masters start last year.

Geoff Ogilvy +3400

Bet: Among golf’s rising stars. Defending U.S. Open Champion. Always brings his A-game to major championships.

Back off: Last year’s T-16 finish was the first time he ever played Augusta. Final round scoring average of 71.6 (78th on tour) is a concern.

Sergio Garcia +3400

Bet: Three top six finishes in four stroke play starts this season. Finished T-5 and T-3 in the final two majors of 2006. As much pure talent as any player in the field not named Tiger Woods.

Back off: Streaky putting is a concern, as is the maturity that has some wondering if he will ever win a major. Has just two finishes inside the top 28 in eight career Masters starts.

Charles Howell +4100

Bet: Among the top players in the world in 2007 with five top 10’s in nine starts, including a playoff win over Mickelson at the Nissan Open. Augusta, Georgia native who has been playing the course since he was 10 years old.

Back off: Couldn’t beat 69-year-old Charles Coody at last year’s tournament, shooting 80-84 to finish dead last. It was his second straight missed cut at The Masters.

Paul Casey +4100

Bet: One of Europe’s best players. Finished T-6 at Augusta in 2004.

Back off: One of the world’s most inconsistent players. Shot 79-78 in 2005 to miss the cut (didn’t play last year).

Padraig Harrington +4100

Bet: Very consistent and very long off the tee.

Back off: Has made the cut in just two of his last seven major championships.

Luke Donald +5100

Bet: A lack of length didn’t stop Donald from finishing T-3 in 2005 or from finishing T-3 at the last major played, the 2006 PGA Championship. World No. 11 has great value at +5100.

Back off: If it rains length off the tee is a serious concern,. Donald has also struggled on the greens this year, ranking 99th in tour in putting average (1.805 putts per hole).

Trevor Immelman +5100

Bet: Finished T-5 at the 2005 Masters, eight strokes behind Woods. World No. 13 already has three top 10’s this season.

Back off: Has never seriously contended in a major.

Robert Allenby +5100

Bet: Allenby has finished T-8, T-8, T-9, T-3, T-5, T-32 and T-3 in seven stroke play events this year.

Back off: Has never seriously contended in a major.

Chris DiMarco +6700

Bet: Three tops 10’s in just six Masters starts. Always seems to being his A-game at major championships.

Back off: Hasn’t won a tour event since January of 2002. No top 10 finishes in six tour starts this season.

Jose Maria Olazabal +8100

Bet: Two-time champion who knows Augusta like the back of his hand. Olazabal has eight tops 10’s in 19 Masters starts.

Back off: Distance off the tee is a problem, and his play in 2007 has been horrible. Olazabal missed the cut last week in Houston, and hasn’t finished better than T-13 in eight starts this season.