The top two ranked players in the world are the favorites this week; No. 278 Tiger Woods is not.

The No. 1 player in the world may be returning to the game at this week’s PGA Championship, but defending champ Rory McIlroy is still not the favorite at Whistling Straits. He would be the favorite, or at least co-favorite, in almost any other normal circumstance. But we haven’t seen him play since mid-June at the U.S. Open and there’s an obvious unease about how his ankle will hold up in competition when he starts planting off that left foot and bombing drives off the tee. That unease may dissipate as the week progresses and Rory plays more and more practice rounds, but for now, he’s just a lowly 10/1 to win the season’s final major.

Even with that injury uncertainty, there’s only one player with lower odds than McIlroy’s 10/1 mark. Reigning Masters and U.S. Open winner Jordan Spieth is the favorite this week at 6/1. He has been ever since Rory went down and nothing in his play has done anything to change that status. Spieth made an incredible run at keeping the Grand Slam alive at The Open — one that, even in defeat, only reaffirmed his place as the hottest player in the world for 2015. He’s only made one start since that appearance at St. Andrews, last week’s Bridgestone Invitational. Spieth never quite got it humming at Firestone, but a Sunday round of 66 did push him up the board for a top 10 result. The Grand Slam may be dead, but an “American Slam” is still alive and Spieth is a deserving favorite given all that he has put up on the board since last December.

Tiger Woods, who spent so many years as the favorite at every major regardless of his form, sits at 40/1 at the start of the week. Those odds would usually be incongruous with the 278th ranked player in the world, but there’s way too much interest and public money out there for Tiger. Even at 40/1, it’s still not a good bet. Tiger is not going to win this week. He looked … better and improved at the Quicken Loans National, his own tournament, two weeks ago. I don’t think he’s finished and I do think he’ll figure out how to at least play competitive major championship golf with a new swing. But he’s not close this week. Woods may make the cut, something he did not do at the preceding two majors, but he has nowhere near the consistency to keep up with all the younger talent ahead of him right now. Even if you’re the world’s biggest Tiger devotee, save your money.

Following Spieth and McIlroy at the top of the board are the usual big names and young bombers that regularly contend at these majors. Jason Day is 12/1 and is playing too well and has too good a track record at the majors not to be in the mix on Sunday. Dustin Johnson and Bubba Watson are always on the first page of the leaderboard this summer and they’re both 15/1. With Rory now back, it’s a loaded field and one the PGA of America likes to boast as the deepest of any major. At the start of the week, here are odds for all of the big names, via Jeff Sherman of the Las Vegas SuperBook and GolfOdds.com:

Player Odds to Win
Jordan Spieth 6/1
Rory McIlroy 10/1
Jason Day 12/1
Dustin Johnson 15/1
Bubba Watson 15/1
Adam Scott 20/1
Justin Rose 20/1
Rickie Fowler 20/1
Henrik Stenson 25/1
Field (all others) 25/1
Louis Oosthuizen 30/1
Phil Mickelson 40/1
Sergio Garcia 40/1
Hideki Matsuyama 40/1
Jim Furyk 40/1
Brooks Koepka 40/1
Tiger Woods 40/1
Martin Kaymer 50/1
Matt Kuchar 50/1
Zach Johnson 50/1
Patrick Reed 50/1
Shane Lowry 50/1
Brandt Snedeker 60/1
Jimmy Walker 60/1
Paul Casey 60/1
Charl Schwartzel 80/1
Keegan Bradley 80/1
Billy Horschel 80/1
J.B. Holmes 80/1
Luke Donald 80/1
Branden Grace 80/1
Kevin Kisner 80/1
Ryan Moore 100/1
Marc Leishman 100/1
Jason Dufner 100/1
Lee Westwood 100/1
Ian Poulter 100/1
Bill Haas 100/1
Graeme McDowell 100/1
Danny Willett 100/1
Justin Thomas 100/1
Robert Streb 100/1
Danny Lee 100/1
Steve Stricker 125/1
Webb Simpson 125/1
Francesco Molinari 125/1
Kevin Na 125/1
David Lingmerth 125/1
Hunter Mahan 150/1
Victor Dubuisson 150/1
Bernd Wiesberger 150/1
Gary Woodland 150/1
Ryan Palmer 150/1
Graham DeLaet 150/1
Harris English 150/1
Charley Hoffman 150/1
Russell Henley 150/1
Brendon Todd 150/1
John Senden 150/1
Kevin Chappell 150/1
Tony Finau 150/1
Steven Bowditch 150/1
Byeong Hun An 200/1
Nick Watney 200/1
Ernie Els 200/1
Padraig Harrington 200/1
Jamie Donaldson 200/1
Geoff Ogilvy 200/1
Scott Piercy 200/1
Tommy Fleetwood 200/1
Russell Knox 200/1
Camilo Villegas 200/1
Kevin Streelman 200/1
Jason Bohn 200/1
Matt Jones 250/1
Ben Martin 250/1
Daniel Berger 250/1
Miguel Angel Jimenez 250/1
Marc Warren 250/1
Shawn Stefani 250/1
Boo Weekley 250/1
Brendon de Jonge 300/1
David Toms 300/1
Sangmoon Bae 300/1
Cameron Tringale 300/1
Thomas Bjorn 300/1
Vijay Singh 300/1
Alex Cejka 300/1
James Hahn 300/1
Y.E. Yang 300/1
Stephen Gallacher 500/1
Matt Every 500/1
Colin Montgomerie 500/1
Mikko Ilonen 500/1
Nick Taylor 500/1
John Daly 500/1
Darren Clarke 1000/1