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All told, there have been 82 aces on the pro tour in the last five years, which means that the odds on some golfer's holing out his tee shot in any P.G.A. tournament are only about 2½ to 1. Lloyd's of London should have looked up the odds when they insured a $50,000 hole-in-one prize for the Palm Springs Golf Classic. In 1960, the tournament sponsors paid a premium of $4,500, and Joe Campbell scored an ace. In 1961, Lloyd's hiked it to $13,500, and Don January scored a hole in one. In 1962, the rate soared to $18,800, and Dick Mayer took home the bacon. Finally, with Lloyd's out $113,200 and the tournament sponsors out $36,800 in premiums, the whole thing was called off. Not that Lloyd's was chicken, of course: if they can figure out some new ground rules, they may try again next year.