While many venues depend on concessions revenue, given how expensive it is to go golfing at the Augusta National (regardless of whether a tournament is happening), taking a hit on the food isn’t much of a loss for the club. Augusta charges an estimated upfront $40,000 membership fee, with thousands of dollars in annual dues, according to Golf.com—and this amount is said to be “relatively low for a club of its stature.”

Advertisement

Victor Matheson, economics professor at College of the Holy Cross, has a theory as to why the concessions are inexpensive. “For the vast majority of businesses, we assume business owners are profit maximizers, which means they are in the business of squeezing every last dollar they can out of their customers,” Matheson told MarketWatch. “In sports, we don’t necessarily see that.”

Matheson speculates that the low costs buy loyalty from the golf club’s ultra-wealthy clientele, and they also add an extra appeal to the Masters. The cheap prices become a talking point every year.

Advertisement

And you know what? I think it’s wrong. The food should cost a lot at the Masters. First of all, it can be reasonably assumed that a lot of attendees aren’t tipping, and the $1.50 price tag on a pimento cheese sandwich only further enables the worst people in the world to stiff the workers. Second, I don’t think golf club members should be left with more money in their pocket to bribe the police department when little Brayden or whoever gets a DUI. But I guess Augusta feels an obligation to reward anyone willing to watch the world’s sleepiest sport for hours on end.