The chance of getting a hole-in-one is roughly 1 in 12,500 for an amateur golfer. In many countries, anyone making a hole in one is bound by tradition to buy drinks for everyone in the clubhouse. To protect themselves from this potential financial hardship, some golfers buy hole-in-one insurance. Golfers in Japan can buy a premium for $3.
After spending $650 buying the entire clubhouse champagne at England’s South Winchester Golf Club following a hole in one, Paul Neilson told Bloomberg, “I couldn't afford to go through all that again. I used to have a policy but never got around to renewing it.” Among the stories from Japan, the same article quotes Eiji Yoneda, who was one of 200 people invited on a dinner cruise by someone celebrating a hole in one.