SANTO DA SERRA, Madeira (Reuters) - Briton Bradley Dredge goes into this week's Madeira Islands Open knowing a second win in the event would almost certainly earn a passport to Augusta for the U.S. Masters.

The 34-year-old Welshman lies 72nd in the world and is the highest-ranked player competing at the Santo da Serra course.

In 2003 Dredge shot a 60 on the way to victory at the mountainside venue. Another triumph in the tournament that starts on Thursday would secure the 24 world ranking points he needs to move into the world's top 50.

He would then need to hang on to his top 50 place at the end of next week's Andalucia Open to clinch his Masters ticket.

"I've been practising really hard over the last two weeks so I'm hopeful of playing really well this week and next week in order to earn my start in the Masters," Dredge told Reuters.

"Playing in the Masters is such an achievement. Playing at Augusta is just an amazing experience and I hope to do it again this year."

DORAL EVENT

Dredge narrowly missed out on a place in this week's corresponding event across the Atlantic, the WGC-CA Championship.

"Missing out on the WGC at Doral was a real shame," he said. "I'm feeling quite confident about my game. I have a very positive attitude at the moment."

Dredge's likely title rivals this week are fellow Britons John Bickerton, Stephen Dodd and Paul Lawrie and Chilean Felipe Aguilar.

Bickerton benefited from a late collapse by Ernie Els in December to win the Alfred Dunhill Championship while Aguilar won last month's Indonesian Open.

Last season Lawrie showed signs of regaining the form that won him the 1999 British Open while Dodd and Dredge combined to capture the World Cup for Wales in 2005.

(Editing by Tony Jimenez)