Latest Masters odds 2015: Jordan Spieth remains heavy favorite, Tiger Woods a huge long shot

There are only 18 holes left in the 2015 Masters and like he was following the first and second rounds, Jordan Spieth is the betting favorite following the third round and heading into Sunday. Spieth set the 54-hole Masters record and sits at 16-under at the start of the final day and four shots clear of the field. That is good enough to earn 1/3 odds, according to oddsmakers from Bovada.

The 21-year-old Spieth is in prime position to win the first major championship of his career. A victory would make him the second-youngest player to ever claim the green jacket. He shot into the lead during the first round with an 8-under round of 64 and hasn’t looked back. If he finishes the task on Sunday, he will become just the fifth player -- and first since 1976 -- to record a wire-to-wire win at Augusta. Spieth nearly had a six-stroke lead, but a late double bogey on Saturday trimmed his cushion by two strokes. Had he avoided trouble, he may have been an even bigger betting favorite.

Justin Rose will begin the final round at 12-under and in second place. He also has the best odds to unseat Spieth with oddmakers pegging him at 9/2 to win the green jacket. Phil Mickelson is just behind Rose at 6/1. There is a significant drop off from there with Charley Hoffman next at 28/1. Rory McIlroy and Tiger Woods both played well on Saturday but are still 10 strokes off the pace. Neither has very good odds to surge into victory on Sunday with McIlroy at 75/1 and Woods at 100/1.

Here is a full look at how the odds for the players near the top of the leaderboard (via Bovada):