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The circle at the top is the green; the circle at the bottom is the tee; the circle in the center is a pond; the parentheses are separate fairways; the dash is some sort of obstacle.
What I'm crudely suggesting here is symmetrical (yet mirror-image) fairways that wrap around a water hazard on both the left and right, with some kind of obstacle -- trees or sand, or maybe a ditch -- at the end of the water hazard, making a carry almost impossible, and ill-advised. The golfer must choose either the left or the right fairway, depending on his or her ball shape, comfort level, wind, etc.
I know land prices tend to make 19 fairways on an 18-hole course an expensive luxury, but I wonder if such a hole exists somewhere, and whether players (would) like it. I've never played a split-fairway hole that I thought offered equally appealing options -- one is always preferable to the other. On a hole like this, I don't think that would be the case. Thoughts?