The Masters is finally here, and one lucky golfer will take home a $1.8 million check for winning the whole thing.
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The tournamentâs top prize is part of a $10 million total purse. Second place includes $1.08 million in winnings, and the golfer who finishes third will get $680,000. The minimum prize for every golfer at the Masters, the first major of the 2016 season, is $10,000.
This yearâs prize money remains unchanged compared to 2015. The total purse was bumped up to $10 million last year, and champion Jordan Spieth earned $1.8 million. Phil Mickelson and Justin Rose tied for second place, so they split the difference and each received $880,000.
All of the winnings are before taxes, of course. Georgia has a top income tax rate of 6%.
Jason Day is the betting favorite to win the green jacket this year, although Jordan Spieth and Rory McIlroy are also given strong odds. According to ESPN, the Westgate Las Vegas said Spieth has attracted the most money.
Day arrived at August National on a hot streak. Over his last 13 starts, Day grabbed six first-place trophies, including back-to-back wins at the Arnold Palmer Invitational and World Golf Championships-Dell Match Play in March. So far this year, the Australian has earned $3.14 million on the golf course, which is third-best on the PGA Tour.
Fellow Australian Adam Scott has led the PGA Tour with $4.44 million in 2016 prize money heading into the Masters. Bubba Watson is second with $3.66 million.
Spieth, who won both the Masters and U.S. Open last year, led all golfers in combined tournament and endorsement money in 2015. According to annual rankings from Golf Digest, the Under Armour (NYSE:UA) athlete got a $30 million boost from off-course earnings. Spieth made a total of $53 million.
Phil Mickelson was a close second at $52.3 million. Tiger Woods, who is sitting out the 2016 Masters as he recovers from back surgery, made $48.6 million last year. Nearly all of Woodsâ earnings came from endorsement deals.