The fourth tournament of the 2013 PGA Tour season, the Farmers Insurance Open, takes place this week at the renowned Torrey Pines in California.

Tiger Woods won the US Open here in 2008 and he returns alongside a stellar field to contest his first PGA Tour tournament of 2013.

He is joined by the likes of Bubba Watson, Phil Mickelson, Keegan Bradley, Rickie Fowler and Brandt Snedeker.

Snedeker won the tournament in 2008 after Kyle Stanley‘s harrowing final-round collapse, but he’ll have to play some fine golf to retain his trophy this time around.

The tournament is contested over Torrey Pines’s North and South Courses. The former is very short by professional standards and should produce some low scores, with the longer, more difficult 7,569-yard South causing most of the problems.

Woods is the 6/1 favourite this week with Ladbrokes, but there is plenty of other value on offer.

I’m sticking with Phil Mickelson, at 16/1 with Ladbrokes, again this week. He got off to an inauspicious start at the Humana Challenge last week, but shot 66-66 over the weekend. His course form at Torrey Pines – where he has won three times in the past – is also exceptional. What’s more, he loves the West Coast swing and often picks up a victory early in the season.

I’m not thrilled with Charles Howell III‘s odds of 20/1 with Ladbrokes, but I just can’t look past him this week. He finished in a tie for third at the Sony Open in Hawaii and lost out to Brian Gay in a play-off last week. Howell III is one of the form golfers in the world game and he has four top tens and two runner-up finishes at Torrey Pines. His six year winless drought could come to an end this week.

I think Nicolas Colsaerts, at 50/1 with Ladbrokes, is going to thrive on the PGA Tour this season. He played well in South Africa two weeks ago, fishing in a tie for ninth, and his length off the tee will be an undoubted advantage this week. He showed his proficiency for American golf with good performances at the US Open, the Wyndham Championship and a brilliant debut at the Ryder Cup, and I wouldn’t be surprised to see him go close in California.

Seung-yul Noh, at 80/1 with Ladbrokes, is another I fancy to win his first PGA Tour event this season. The youngest ever Asian Tour Money List winner recorded nine top-25 finishes in his last 12 starts in 2012, and he performed well on debut in this tournament last year.

Luke Guthrie, at 125/1 with Ladbrokes, is a decent outside bet this week. Guthrie finished second on the 2012 Tour money list despite making only ten starts. He shot 64-66 over the weekend at the Humana Challenge, and there’s no reason why he can’t be the next Tour graduate to make an impact on the main tour.

Farmers Insurance Open advised bets

2pts each way on Phil Mickelson at 16/1 with Ladbrokes
2pts each way on Charles Howell III at 20/1 with Ladbrokes
2pts each way on Nicolas Colsaerts at 50/1 with Ladbrokes
2pts each way on Seung-yul Noh at 80/1 with Ladbrokes
2pts each way on Luke Guthrie at 125/1 with Ladbrokes