2023 Charles Schwab Challenge Betting Guide

Ad Disclosure

Here at ThePuntersPage.com (TPP) we’re dedicated to building a trustworthy brand and strive to provide the very best content and offers for our readers. Please note that some of the links included on TPP may be affiliate links, which means we may earn a commission (at no additional cost to you) if you click on a link and subsequently open an account. We only recommend products and companies we use and trust. To learn more, visit our About Us Page. 

Last Updated on: 27.02.2023

The Charles Schwab Challenge is a professional golf tournament on the PGA Tour held annually at Fort Worth, Texas, at the Colonial Country Club in May. Currently one of five invitational events organised by the PGA, many punters look for the latest Charles Schwab Challenge odds and betting tips as the competition draws closer. Read on to learn more!

Tournament Structure for the Charles Schwab Challenge

  • The tournament plays tribute to the history of golf by presenting an official Scottish tartan jacket to the winner of the event. There is also a Wall of Champions on the first tee, upon which are the engraved names and scores of each champion dating back to its inaugural event in 1946.
  • The Charles Schwab Challenge is one of only five tournaments within the PGA to have an invitational status, which means it has a reduced field as opposed to some other PGA events. There should still be approximately 125 players teeing off, though, so it is far from empty. The other four tournaments with invitational status are the Genesis Open, Arnold Palmer Invitational, the RBC Heritage, and the Memorial Tournament.
  • The tournament itself is a standard stroke play event, where the player with the best under-par score after four day’s play will be crowned champion. At the tournament’s midpoint, which comes after two full days of play on Friday evening, a cut line will be introduced to chop the field in half with players on one side of the line missing out on the final two day’s play, and players on the other side of the line playing on for another two days. This is commonly referred to as missing or making the cut, and introduces another betting opportunity (see above). From here, there is another two days of play on the Saturday and the Sunday until a winner is found. In the case of a tie where more than one golfer has the same score, a playoff is undertaken on the 17th green to find a champion.

Best Betting Sites for Charles Schwab Challenge

  • Best Charles Schwab Challenge odds
  • Extra places in major golf events
  • Exclusive golf promotions

18+ - Offer for new customers at bet365. Min deposit requirement. Free Bets are paid as Bet Credits and are available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and Full T&Cs apply. BeGambleAware.org #ad

  • Often offers 10 places each-way at golf majors
  • Available on mobile
  • Up to £30 in Free Bets

New customer offer. Place a min £10 bet on the Sportsbook on odds of min 1/2 (1.5), get £30 in Free Bets. Rewards valid for 30 days. SMS verification required. Only deposits via cards or Apple Pay will qualify. T&Cs apply. Please Gamble Responsibly.Full T&Cs apply. BeGambleAware.org #ad

  • Daily ‘Odds Boost’ available for golf bets
  • Bet £5 Get £20
  • Early odds available for PGA and European Tour events

18+ New UK+IRE Customers only. Certain deposit methods & bet types excl. Min first 5 bet within 14 days of account reg at min odds 1/2 = 4x 5 free bets. Free bets valid for 7 days, stake not returned. No cashout, restrictions + Full T&Cs apply. BeGambleAware.org #ad

  • Golf betting specialists
  • Live betting on many popular markets
  • Bet £10 Get £40

New 18+ UK customers only. Register using the promo code WELCOME40, deposit and place first bet of £10+ on Sports (cumulative Evens+) within 7 days of registration. First bet must be on Sports. £30 in Free Bets and £10 in Free Spins (50x20p) credited within 10 hours of bet settlement. Free Bet stakes are not included in any returns. Bonuses have a 7-day expiry. Payment restrictions apply. SMS verification and/or Proof of I.D and address may be required Full T&Cs apply. BeGambleAware.org #ad

William Hill
  • Outstanding Charles Schwab odds
  • Over a dozen promotions, some daily
  • Bet £10 Get £30 in Free Bets (credited as 2x£15 bets)

New customers using Promo code H30 only, Min £10/€10 stake, min odds 1/2, free bets paid as 2 x £15/€15, free bets credited after settlement of first qualifying bet, free bets will expire 30 days after the qualifying bet is placed, payment method/player/country restrictions apply. See full terms below. Full T&Cs apply. BeGambleAware.org #ad

Charles Schwab Challenge Betting Odds, Promotions, Tips & Predictions

We will publish the date for the 2023 edition of the tournament once more information is available.

Charles Schwab Winner Odds 2023

The latest odds for the 2023 Charles Schwab Challenge will be published here closer to the start date of the event.

Favour another betting odds format? Use our odds converter!

Charles Schwab Challenge Betting Tips & Predictions 2023

Our expert tips and predictions will be added here once the commencement of the tournament draws closer.

Charles Schwab Challenge Betting Promotions 2023

  • NetBet offer new users £10 in free bets, which is a great way to try your hand at Charles Schwab betting. Plus, you get 10 casino spins thrown in too.
  • At Coral, new customers can enjoy £20 in fee bets after they wager an initial £5.

5 Reasons to Bet on The Charles Schwab Challenge

  • The Charles Schwab Challenge 2022 renewal marked the 76th anniversary of the event.
  • It is one of the most traditional tournaments on the entire PGA Tour.
  • There are only five invitationals on the PGA Tour, and this is one of them.
  • The world’s elite golfing talent will be teeing off here.
  • It provides a good form guide prior to the upcoming US Open, just a fortnight away!

Charles Schwab Betting Sites With Live Streaming

  • Ladbrokes
  • Coral
  • William Hill
  • Betfair
  • Paddy Power

Popular Charles Schwab Betting Markets

Golf is one of the most popular sports among punters – and for good reason, too. Due to the large fields, prices, even on the pre-tournament favourite, are generally always pretty generous. The nature of gameplay also throws up a ton of betting choices – more so than most other sports, in fact – so golf betting is really worth a try. We've compiled below the most valuable markets for the Charles Schwab Challenge that are worth considering.

Outright Winner Betting
This uncomplicated bet is, quite simply, a bet on a competing golfer to win the tournament outright. There are many ways to choose how you select your pick. You could study a player’s form either over the last few tournaments played, or their competitive history at a particular venue. As soon as you have arrived at your decision, you can make your bet by deciding on the amount you wish to wager, combining it on your betting slip with the player you have chosen before placing your bet. If this player wins the tournament, you get paid.

Best Charles Schwab Challenge betting site for Outright Winner: Paddy Power

Top 10 Finish Betting
Likewise, if you have a player that you suspect will do well but not well enough, there is always the opportunity to back them to finish in the top 10. Most sports don’t work with a leaderboard, but golf does, which is what allows this bet, or top 5, top 15 or top 20, to be an option. It is a self-explanatory wager in which your pick, or picks, must finish within the top 10 places on the leaderboard for bets to pay out as winners.

Best Charles Schwab Challenge betting site for Top 10 Finish: Coral

Make or Miss the Cut Betting
In the overwhelming majority of golf tournaments, there will be a cut (see below) that takes place half-way through a tourney in order to remove the stragglers from play. It is important for golfers to make this cut, because it is the only way they get paid. It is also another feature, distinct to golf, that throws up yet another betting opportunity that other sports simply cannot provide. When betting on this market, try to find an emerging young talent or a player that has been off form, but has been improving nevertheless. In such a case, players who tend to fly under the radar often provide the best value here.

Best Charles Schwab Challenge betting site for Making or Missing the Cut: Unibet

In-Play Betting
The appeal of in-play betting should be obvious. As events unfold, the odds fluctuate with each situational change. For this reason, bettors love to watch a tournament, or just one single round, play out in real time. This way, savvy punters can get a clearer picture of how things are likely to play out. This type of betting can be advantageous to both the online bookmaker and the punter, for whom bettor’s patience is the key.

Best Charles Schwab Challenge betting site for in-play: 888sport

History of the Charles Schwab Challenge

  • One of the longest-running tournaments in PGA Tour history, this tournament was founded in 1946 as the Colonial National Invitational and has gone by many names but, as of 2019, it has been called the Charles Schwab Challenge. Packed with tradition, the tournament came about after the venue, the Colonial Country Club, hosted the 1941 US Open. When The Colonial hosted the event, it was the first time that the US Open had been held south of the Mason-Dixon line, which marked the historic boundary between North and South in Colonial America. Looking to make the most of the tourney’s success, local organisers launched The Colonial Invitational in 1946.
  • Unlike many golfing events, The Colonial has never wandered from its home, and has played at the same venue throughout its entire existence. In 2003, Annika Sorenstam became the first woman to play in any PGA Tour event in 58 years when she played in Bank of America Colonial, as it was called at the time, following Babe Zaharias, who competed in the Los Angeles Open, in 1945. Sadly for her, she missed the cut.
  • In 2020, the tournament was played in June and was the first PGA Tour event to be staged after the lockdown caused by the COVID-19 pandemic. This event was also held without spectators, which was another PGA Tour first.

Recent Charles Schwab Challenge Winners

2022Sam BurnsUnited States
2021Jason KokrakUnited States
2020Daniel BergerUnited States
2019Kevin NaUnited States
2018Justin RoseEngland
2017Kevin KisnerUnited States
2016Jordan SpiethUnited States
2015Chris KirkUnited States
2014Adam ScottAustralia
2013Boo WeekleyUnited States
2012Zach JohnsonUnited States

Charles Schwab Challenge Key Stats

  • Only eleven men have won this tournament more than once.
  • Ben Hogan has won it the most with five wins.
  • The other ten golfers – Julius Boros, Billy Casper, Lee Trevino, Ben Crenshaw, Bruce Lietzke, Corey Pavin, Nick Price, Kenny Perry, Phil Mickelson and, most recently, Zach Johnson – have all won the event twice each.
  • In 1955, Chandler Harper won by eight strokes, a tournament record.
  • The course record here 261 and was made by Kenny Perry in 2003.
  • Perry repeated the trick two years later in 2005.

Similar Tournaments to the Charles Schwab Challenge

  • 29th May – 4th June 2023, The Memorial Tournament: Played on a course designed by ‘The Golden Bear’ Jack Nicklaus at Muirfield Village Golf Club, the Memorial follows on from the Charles Schwab one week later.
  • 23rd – 26th June 2022, The Travellers: River Highlands is the setting for this midsummer PGA tournament, which is one of the highlights of the season.
  • 11th – 14th August 2022, FedEx St Jude Invitational: Another invitational event, this one is held annually at the TPC Southwind in Memphis, Tennessee.
  • November 17th – 20th 2022, RSM Classic: One of the most prominent autumn events in the PGA Tour

Upcoming Sporting Events

Charles Schwab Challenge Betting FAQs

The best betting sites for Charles Schwab Challenge are bet365, Betfair and Ladbrokes.
The Charles Schwab Challenge will be available to watch live on Sky Sports.
The Charles Schwab Challenge takes place at the Fort Worth Colonial Country Club in Dallas Fort Worth Texas, USA.
The Charles Schwab Challenge takes place each year in May.
The average temperature in Fort Worth in May is 28.4 degrees Celsius.
The Charles Schwab Challenge carries with it a purse of $7.5 million.
Yes, bookmakers will allow you to bet on the cut.

ThePuntersPage Final Say

A highly prestigious event with a prize pool of close to $7 million, this really is one of the most enthused about stops on the PGA Tour. The winners list, which includes Lee Trevino, Jack Nicklaus, Phil Mickelson, Sergio García and Justin Rose, reads like a who’s who of golfing legends, further adding to its reputation.