Romo is listed at 5-2 odds by Caesars Sportsbook with former MLB pitchers Mark Mulder (3-1) and John Smoltz (6-1) next in line.
The tournament features 93 celebrities, including six NFL head coaches, 16 active NFL, NBA and NHL players and 22 Hall of Famers.
Romo isn’t the only player in the field with North Texas ties, either.
Former TCU quarterback and current Cincinnati Bengals quarterback Andy Dalton is competing, too, and has odds listed at 500-1. Former Dallas Cowboys defensive end DeMarcus Ware is a long shot at 5,000-1.
But Romo ranks as one of the headliners. The 39-year-old Romo has spent significant time improving his golf game, competing in two PGA Tour events this year.
Romo, who has become a standout analyst at CBS Sports since his playing days ended, missed cuts at the Corales Puntacana Resort & Club Championship in March and then at the AT&T Byron Nelson in May.
But he won this event last year, scoring 71 points to beat Mulder by three points. In order to keep his amateur status, Romo donated his $125,000 in winnings to tournament charities.
Other notable players competing include NFL stars such as Packers quarterback Aaron Rodgers, Cardinals receiver Larry Fitzgerald, Cardinals cornerback Patrick Peterson, Bengals tight end Tyler Eifert and Vikings receiver Adam Thielen.
Among NFL coaches in the field are Mike Vrabel, Anthony Lynn, Matt Nagy, Frank Reich, Doug Pederson and Sean Payton (who is listed at 2,000-1 to win it).
The worst odds to win belong to notoriously poor golfer Charles Barkley. The former NBA standout is listed at 7,500-1.
NBC will broadcast the event on Saturday and Sunday.