The Masters is a few months down the line but it's never too early to see who's in shape to take home the green jacket in April.

The latest: Jon Rahm has been on a tear to start 2023 and is the favourite to conquer Augusta National. Cameron Smith is in a good spot to win a second straight major and Jordan Spieth has played this course as well as anyone. Four Canadians, including Corey Conners, have qualified for the tournament.

Here are the latest Masters odds as of January 23.

Masters odds

Check out the latest odds to win the Masters. Click linked odds to add selection to betslip.

Odds as of 7:56 p.m. on 01/23/2023.

Best Masters odds

The favourite: Jon Rahm (+700)

To say Rahm's been on a heater would be an understatement.

The Spaniard has won four of his last six starts, including each of his past two PGA Tour starts — the American Express and the Sentry Tournament of Champions.

What about his results that weren't wins? A T8 at the Hero World Challenge and a T4 at the CJ Cup.

Loved being back @theamexgolf and pulling out the victory! Thanks to all the fans for their support. Let’s keep it rolling - vamos!

¡Me encantó estar de vuelta @theamexgolf y obtener la victoria! Gracias a todos los fans por su apoyo. ¡vamos! pic.twitter.com/U8MXt2LGtk

— Jon Rahm Rodriguez (@JonRahmpga) January 23, 2023

There are no holes to poke in his game, either.

Rahm is one of the best ball-strikers in the world, his short game is elite and his putter is red hot. The way he drives the golf ball is particularly impressive. He can bomb it a mile but doesn't sacrifice accuracy.

Rahm's been successful at Augusta National, too. His recent T27 finish was his worst since 2017 but in his four starts before that, he finished T5, T7, T9 and fourth.

He has one major under his belt already and is a good bet to add a second in April.

Other Masters choices

Best value: Cameron Smith (+1,400)

Smith's defection to LIV Golf last August shook the golf world. The Aussie was coming off an Open Championship victory at St. Andrews, was the OWGR's No. 2-ranked golfer and is in the prime of his career.

He might not be playing on the PGA Tour any longer but we can't simply put horse blinders on and pretend he doesn't exist.

Smith's track record at Augusta speaks for itself and we don't expect a sudden drop in talent level over the coming months.

The 29-year-old has three top-five finishes at the Masters in his last five starts and was tantalizingly close to taking home the green jacket in 2022, only to be undone by Scottie Scheffler.

Smith ranked fifth in strokes gained: approach last season (+0.771) and eighth in strokes gained: putting (+0.563). That skill set will have you in contention at just about anywhere.

Player to watch: Jordan Spieth (+2,000)

Putting Spieth as our player to watch seems fitting.

He's a former Masters champion who has come close to winning majors in the past few years and he can go low at any course in the world.

So what's the problem?

Well, Spieth is just about as volatile as they come. For example, he took a share of the first-round lead at the Sony Open before firing a second-round 75 and missing the cut.

If he's running hot into April there's a good chance he'll be on the leaderboard come Masters Sunday. But there's also a chance he loses form completely. In that case, we probably wouldn't recommend betting on him.

Here's another tidbit that definitely isn't worth overthinking: Spieth won a tournament on Easter Sunday in each of the past two seasons and that's exactly when the final round at Augusta takes place this year.

Canadian Masters odds

There are four Canadians who are currently qualified to play in the Masters but that number could rise in the coming months. A player will gain entry if they win a tournament from now until the Valero Texas Open or are ranked within the OWGR's top 50 by March 27.

• Conners is the favourite out of all Canadian players and for good reason. His track record at Augusta is fantastic. Conners has finished in the top 10 in each of the past three tournaments and his ability to find the fairway is an important asset at Augusta.

• Hughes gained entry thanks to his victory at the Sanderson Farms Championship last October. He's played in each of the past two Masters tournaments and has made the cut each time.

• Svensson has never played in a major before and this isn't a bad place to start. He also won a tournament during the PGA's fall swing — the CJ Cup in November — and has made each cut since then.

• There's little to no chance Weir takes home the green jacket and that's fine because he already has one under his belt. All former champions get to play in the tournament and Weir came close to making the cut in 2022.