The origin of a golfer who scores a hole in one buying drinks can be traced back to the year 1921 at Pebble Beach Golf Links. A gentleman named James B. Marker made his ace on the famed 17th hole and since this occurrence was during prohibition, he decided something special to do would be to buy playing partners a drink. One can just assume that because Pebble Beach was and still is to this day such a special place in the world of golf, there were workarounds as far as securing alcoholic beverages during this time. The story also goes that one of the playing partners said that the shot was so perfect that James should buy drinks for the entire clubhouse.
Making a hole in one in golf is an extraordinary feat that most golfers will never experience in their lifetime. Let’s just start with the approximate odds of an amateur golfer making a hole in one and they are 12,500 to 1. With those odds, you would think that aces would happen once in a blue moon and yet it does happen to golfers daily across golf courses across the globe.
With this tradition solidly etched in the minds of golfers, making a hole in one can get expensive really quick if you happen to make your hole in one during a charity golf outing or a popular time when many golfers are at the course. Many country clubs have what is called a hole in one pool in which each member is billed $5.00 or $10.00 and those funds go into a pool with that money accumulating and if a member of the club make s a hole in one, they win what is in the pool of money and the members get billed once again until the next successful shot. In most instances, the member receives the entire sum in a cash payment. Some clubs get creative and split the winnings where one third will go to a cash payment, 1/3 will go towards the bar bill and the last 1/3 will go towards pro shop credit. Many have said that the tradition of buying drinks for a hole in one is a way to keep golfers honest about reporting a false claim in that they understand what they would be in for as far as buying for a large crowd when returning to the clubhouse.
When Mancil David (King of Aces – Has 51 hole in one’s) was asked about the tradition of buying drinks after every ace, he said that he thinks that because it is such a special accomplishment, the only obligation would be to celebrate the feat with those that are the closest to you.
Many charity golf outings and country clubs offer hole in one insurance to the players and this eliminates the risk to the golfer if they do make a hole in one.
What is Hole in One Insurance?
The correct name for this type of coverage is called Prize Indemnification. What this Prize indemnity insurance is indemnification insurance for a promotion or contest in which the participants are offered the chance to win valuable prizes as the result of making a hole in one on a designated hole at a charity golf tournament. Instead of the tournament or charity rewarding or paying for prize, the tournament pays a premium to a promotions company (such as NATIONWIDE Hole in One), which then reimburses the insured should a hole in one be made on the designated prize hole.
Why Purchase Hole in One Insurance for a Golf Tournament
Hole in One insurance has become a staple at many golf tournaments that are held, in fact it is more unusual when you play in a tournament that does not offer any prizes on the course during the tournament. There are thousands of charity golf tournaments throughout the United States and many events offer exciting hole in one prize’s such as cars or significant amounts of cash as prizes in hopes of drawing larger numbers of golfers to their events. In many cases, the tournament gets a sponsor to cover the associated costs of the coverage premium in exchange