More PGA Championship: Leaderboard | Round 1 thoughts | Five to watch Friday

The first round of the PGA Championship has concluded and there is a familiar sight at the top of the leaderboard. Dustin Johnson, who posted a 66 in the morning session, has the first-round lead for the third consecutive major. 

Behind him is David Lingmerth, who threatened briefly at the British Open before fading, at 5 under and then a large group at 4 under. The pre-tournament favorites, Jordan Spieth and Rory McIlroy, each shot a 1-under 71 on Thursday and are five back. 

The weather played a big factor in the first round, with the morning tee times having the advantage. If that is the case again Friday, this leaderboard could get very bunched up at the top heading into the weekend as the tee times are flipped. 

Here are the current tournament odds following the first round from Bovada, beginning with Johnson, unsurprisingly, as the new favorite.  

The Favorites:

Dustin Johnson: 7-2
Jason Day: 5-1
Jordan Spieth: 8-1
Rory McIlroy: 9-1

Nothing has changed for McIlroy's odds, and at five back with a morning round in calmer conditions in front of him I still like his value. If you held out on betting Spieth because you felt he was a risk at 11-2, but think he has some magic left, this would be the perfect time to pounce on him at 8-1. I'm wary of the afternoon tee times and would like to see how Day and Johnson perform in tougher conditions before I take them with reduced value from where they began the week. 

The Other Favorites:

Justin Rose: 12-1
David Lingmerth: 16-1
Matt Kuchar: 18-1

The only other three inside 20-1 odds, and of the three I trust Rose the most to stay near the top of the leaderboard heading into the weekend.

The Fringe Contenders:

Hideki Matsuyama: 25-1
Danny Lee: 25-1
Bubba Watson: 28-1
Russell Henley: 28-1
J.B. Holmes: 33-1

Bubba might have missed his chance by posting a 72 in the easier morning conditions, but he has been playing so well lately that six shots isn't impossible for him to make up. Holmes can be streaky, but that might not be a bad thing and at 33-1 and only two shots back he has really good value. My love for Matsuyama is well established and he came tantalizingly close to a great round before sliding back late. I honestly don't think a small wager on any or all five of these is a terrible decision. 

The Longshots

Martin Kaymer: 40-1
Robert Streb: 40-1
Paul Casey: 50-1
Harris English: 50-1
Brendan Steele: 50-1
Phil Mickelson: 66-1
Rickie Fowler: 66-1
Louis Oosthuizen: 66-1

Kaymer hasn't played well all year, but he looked very solid Thursday on the course where he won the PGA back in 2010. I'm a big Harris English fan, and he's long off the tee and accurate too, which is a great combination at Whistling Straits. I like both of those guys as long shots who are still pretty close to the lead, and everyone in that group at 66-1 is very tempting at just six or seven strokes back -- especially Mickelson, who gets a Friday morning tee time. 

 

Dustin Johnson is the first round leader and new betting favorite for the PGA Championship. (USATSI)
Dustin Johnson is the first-round leader and new betting favorite for the PGA Championship. (USATSI)