Attributes of the course that the tournament is being played at: the terrain, the length and narrowness of the fairways, the length of the rough, type of grass, and size and speed of the greens.
A massive factor is the suitability of certain players to the course. Are they big drivers, do they have a great short game, how do they rank on putting and do they have previous course form? That gives us a steer on whether they are suited by the attributes of the course they're playing on.
The recent form of the player is assessed over the past 4-6 week taking into account the courses they have been playing at. Are they coming into form, or going out of form?
Are they recovering from an injury or experiencing personal issues, such as births/deaths/marriage/divorce.
Player motivation for the tournament in question is vitally important. Are they only playing because they are contracted to do so? Are they getting appearance money just to turn up? Are they returning from injury or a break?
These factors are weighted as percentages and a calculation made to identify which players are most favoured by conditions.
We then look at the markets and identify the best value... those overpriced in the markets who represent the best value...
A lot of work and time goes into making these calculations for every tournament, but this work is vital in order to produce consistent results and profits betting on golf.