They were probably betting no one would get a hole-in-one and it was a safe bet they would not have to spend money on giving away a truck. Seems like they should’ve had insurance to cover that eventuality if someone actually one. Either way, this just seems like really bad publicity to not fork over the money and give the guy his truck.
“Here, I have the $1000 for the insurance but let’s face it, no one will get a hole in one and no one needs to know if we don’t buy it!!!! Drinks are on me!!!”