On Sunday May 22, 2023, there will be a free research task, and Prof. Willow will give you a free Masterball. When you catch shadow Pokémon or raid Pokémon, you will get the option to use the Masterball. But, you will only get one.
Players who pucker up for the Forcing-In-Person-Raids event should probably save their single Master Ball for use on Shadow Mewtwo (on their final throw if they get down to one throw left for catch).
The more I think about this (and with the benefit of the Niantic programmer’s eye-opening reflection on rescinding the game’s remote features), the more I’m inclined to blow off the whole Shadow Raid and Elite Raid events.
And then there’s me who has a hundo Mewtwo already at level 50 so I’ll just be holding onto it.
What happens if you air throw a Master Ball?
Does it return to your bag until you hit the throw or have you lost it?
You’re in the habit of throwing Excellents, so how likely is an air ball? I wouldn’t worry about it. You just have to hit it. Even a Nice will be overkill.
But sometimes dancing Pokemon waste our balls quite easily 
I experienced this for Latias, as I ended up all 6 balls while attempting to make a “just” throw !
I think if we show good enough patience, then it should not be wasted.
The biggest worry will be that where should we use it.
Amidst the desperate situation, we will be tempted to use the Master Ball, but the real drive factor will be FOMO for collectors !!
In my case, I will just keep it as collection,
And use it on Shiny Arceus 
despite the fact that it will have 100% catch rate !
And here it is…
Oh, and be careful. At least the first time, after winning against a Grunt, the app has offered above the shadow Pokémon two balls, the white one, and the MasterBall. And if you don’t look what happens, you have wasted the Masterball.
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Thanks.
Now consider if there is some network lag, because of which ball’s icon are not showing up, and someone then threw out his/her ball…
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An absurd idea, before a recent glitch. I can’t imagine somebody throwing before the ball is displayed for you to throw. Until the game started occasionally NOT showing the ball after we switch types of ball (and the fun challenge of throwing an invisible ball that can catch the target). Before that, I would never touch the screen for a throw until the ball showed.
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For this I was asking to be careful 
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Playing the game in a fatigued sleepy daze on many occasions I can see how the Master Ball could be wasted.
Bad programming to have it come up automatically. Having to purposefully select the Master Ball for use should have been the logical scenario.
It’s like they do this dumb stuff on purpose to create discussion about the game to keep it relevant. Without wasting my own time searching I’m willing to bet there’s a whole marketing psychology about annoying your customers just enough to keep them interested without pushing it to far that they leave.
I’m a time the moment throw player not set the circle as that does not work for me.
It’s easy to throw the odd air ball here and there when your a time the moment player.
I’ve been hoping somebody else might ask this… but didn’t the Beast Ball (the one we got for the Ultra Beasts event) basically do the same thing as this Master Ball?
According to mechanism in Gen-VII, the Beast Ball is special Pokeball which was designed for catching Ultra Beasts.
For Ultra Beasts, it provides catch rate of 5x in comparison of normal Pokeball,
Whereas for other Pokemon, it has catch rate of 0.1x in comparison of normal balls.
Though in Pokemon GO, Niantic made it a different version of Master Ball, like you said..
According to me, the better comparison to Master Ball are :
1. Dream Ball: This ball offers 100% catch rate, but can be only used in Entree Forest and catches Pokemon from Dream Radar.
[ This concept is of Gen-V Unova ]
2. Park Ball: This ball also catches any Pokemon without failing, but can only be used in Pal Park, which is present in Sinnoh as well as in Kanto( but we can access it only if we are migrating Pokemon from there ).
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