There are tons and tons of golf tournaments that offer a big prize to somebody who hits a hole-in-one as a promotion to get people to sign up.
This is what it looks like when somebody actually hits one.
Woah, people, calm down: you're on a golf course. Stop acting like you're enjoying yourselves.
And those are just the spectators. I wish somebody had a camera on Jeff Burton, who is about 150 yards away realizing he just made $1 million. He was participating in a charity tournament for a local high school in Sandia Park, N.M. He was one of six golfers who paid up who got the opportunity to shoot for a hole-in-one on a converted par 4.
You see, somewhere along the line, organizers of these types of events realized they could get people to give money for the opportunity to participate in one-swing hole-in-one competitions, and that more than 99.99 percent of the time, they'd be getting free money. It's generally estimated the odds of hitting a hole-in-one are somewhere around 1-in-12,500 for an amateur golfer. But sometimes, they got put on the hook for huge sums of money. So they began taking out insurance, and a cottage industry was sprouted: there are now multiple companies that specialize solely in insuring hole-in-one shootout events.
I imagine they generally just kinda rake in cash from the thousands of these events. But sometimes, they gotta pay up. And now we know what it looks like when they do.