The 14-times major winner’s second place at the Valspar Championship has generated excitement but talk of him conquering Augusta again may be premature

Bookmakers are apparently revelling in these fevered times for golf. By Monday afternoon, the only absent bulletin was the price for Tiger Woods to walk unassisted on Rae’s Creek when taking to the 12th green during his first round at the Masters. That may be in the post.

Woods’s surpassing of expectations has been timely. With the first major of the year, the Masters, only three weeks away, the 42-year-old finds himself listed among the second favourites to prevail. Woods can be backed at shorter odds than Sergio García, the defending champion, Justin Rose, a modern day Augusta specialist, and Bubba Watson, a double winner in the past six years.

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As recently as September Woods admitted he was unsure whether he could ever play competitive golf again as back issues refused to subside. Now he is fuelling a spike in television ratings which only serves to endorse his value to a sport that occasionally grasps desperately for relevance.

Two things are undeniable. Woods has surprised all onlookers with his latest return to the PGA Tour, which has included 12th place at the Honda Classic and last weekend’s second at the Valspar Championship. That the 14-times major champion is trying to piece together arguably the greatest comeback in the history of sport is also of benefit to the rest of the Masters field, who will gleefully talk up Woods’s chances while shifting the spotlight away from themselves.

On Tuesday Woods spoke of his “frustration” at missing the Masters of 2016 and 2017. “I love playing Augusta National, I love it,” he said. “And I know how to play it.

“Sometimes I don’t play it well but I know how to play it. Just being out there on those greens, hitting putts and being creative … there’s no other golf course like it in the world and there’s no other golf tournament like it. It’s a players’ heaven.

“It has a deep place in my heart. I am very eager to get back. I feel like I am physically able to do it again and it’s going to be a lot of fun.”

It is also surely fair to view a year of competitive Woods golf before making strong claims of imminent glory

That even Woods is keen to add to this wave of optimism will have wider meaning. He has, after all, always been happy to place doubt or fear into the minds of opponents. At this stage in his career he has little to lose.

Nonetheless, perhaps we have skipped a few steps of reality. It is also surely fair to view a year of competitive Woods golf before making strong claims of imminent glory.

Woods has not won a major title since 2008. His last top-10 finish at the Masters – an event he has not claimed since 2005 – was five years ago. Albeit this is the formative stages of a comeback, Woods is still to enjoy anything approaching the leaderboard significance that should have the likes of Justin Thomas cowering with fear. He has not emerged successfully from a battle with Thomas or his peers.

Facebook Twitter Pinterest Paul Casey’s Valspar Championship victory has raised hopes that his major drought can finally be broken. Photograph: Jasen Vinlove/USA Today Sports

Phil Mickelson, who produced a stunning performance this month to claim the WGC Mexico Championship at the age of 47, looks a more salient Masters bet than Woods. Mickelson is seeking to become the oldest winner in Masters history. That Augusta National is not particularly penal off the tee plays into the left-hander’s favour.

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Another man no doubt delighted to fall under the radar is Paul Casey. The 40-year-old Englishman took on status as the man who killed Santa Claus on Sunday, his brilliant 65 proving five strokes better than Woods on the day. Casey can be bracketed among those with too much talent not to win a major but that drought is ongoing. Casey is admirably free from shackles when on the golf course. “I don’t stress about technique, I never have,” he said. “I figure everything out, I pick the target and hit it.”

A Casey game perfectly suited for Augusta is illustrated by his last three finishes there – sixth, fourth and sixth. More worthy of attention perhaps was the ending of a wait for a PGA Tour win that had stretched back to 2009. Casey cut a distraught figure after falling short at the Tour Championship in September but has recovered in emphatic style. He is the only player in this PGA Tour season to produce three closing rounds of 66 or better. “At Augusta, a 40-something could take on anybody,” Casey said.

The 40-something on everybody’s lips plays at the Arnold Palmer Invitational from Thursday. Woods has won at Bay Hill eight times. “That doesn’t automatically mean I’m going to win this week,” he cautioned. “I still have to do the work.”

It remains one in progress. Excitement attached to Woods is perfectly fair but it requires occasional context.