There are so many good golf games to play, most of which have rules that make betting easy, too.
One of those great games is perfect for players of all handicaps to play together, and it's called Quota.
The rules of Quota
Quota is a wonderful game to level out players of disparate (honest) handicaps.
At the start of the round, a player subtracts their handicap from the number 36, and that number becomes that player's quota for the day. From there, the players in the game -- and it can be multiple groups -- set up a point system that's maintained without handicaps. Let's say 0 points for a bogey or worse, 2 points for a par, 4 for birdie and 8 for an eagle, or whatever you'd like.
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At the end of the round, the player who finishes with the most points above their quota wins. The winner can earn a pre-determined pot with players throwing in per round, or, for a much larger pot, losing players can be forced to pay the winner on a per-point basis based on the difference in points to the winner's total above their quota.
Ties can be settled either via a match of cards, the number of birdies or better or some other measure -- or the winning money can simply be split.