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Prize Money & Perks On the Line at The Masters in 2023

Last Updated: September 28, 2023
There’s $18 million in prize money up for grabs as golf’s best compete for the coveted green jacket in the 87th Masters.

The world’s best golfers have made their way to Magnolia Lane for a shot at glory — not to mention major money and guaranteed relevance in the sport for years to come.

Indeed, the 2023 Masters Tournament is more than a week-long celebration where we ruminate about the cost of pimento cheese sandwiches, then salivate over cheeseburger sliders and the rest of this year’s menu at the annual Masters Club Dinner.

As the PGA’s first major of the season, the iconic tournament boasts four days of action-packed competition that follows golfers winding their way through historic Augusta National, navigating around Amen Corner toward one of the most famous finishing holes in all of golf.

Reigning champion Scottie Scheffler is back to defend his title, Rory McIlroy remains a heavy favorite to win the first green jacket of his career, and are we witnessing Tiger Woods’ last appearance at the famed Georgia golf course?

And of course, don’t forget the LIV contingent led by Phil Mickelson.

It’s truly anybody’s game at Augusta.

Let’s have a look at the prize money — and perks— of winning the 2023 Masters.

Masters Prize Money 2023

The 2023 Masters Tournament teed up $18 million in prize money, approximately $3 million more than the purse at the 2022 tournament.

This means the next owner of a green jacket can expect upwards of $3.24 million — which is $630,000 more than the sum defending champion Scottie Scheffler brought home in 2022. The larger purse reportedly represents the largest year-over-year increase in tournament history.

The runner-up takes home $1.9 million.

Here’s a look at just how handsomely compensated each player will be, should they find themselves in the top five.

Estimated Prize Money Payouts at the 2023 Masters

Purse details are determined by the event’s formula for Masters payout percentages and distribution of purse and prize money.

First Place — $3,2400,000
Second Place — $1,944,000
Third Place — $1,224,000
Fourth Place — $864,000
Fifth Place — $720,000

Even the 50th-place finisher walks away with more money this year — $45,360 compared to the $37,800 from last year.

But winning a major like the Masters can mean more than just millions.

Other perks include a lifetime invitation to the tournament, not to mention a guaranteed place in golf’s major tournaments over the next five years. And of course, there’s the iconic green jacket, a gold medal, a sterling replica of The Masters Trophy, and the right to set next year’s Masters Club menu.


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Who’s Winning The Masters?

While oddsmakers at FanDuel Sportsbook have their sights set on Scheffler (+700) and Mcllroy (+700) as the favorites to claim the crown, history suggests anything can happen at Augusta.

Not far behind them pair is Jon Rahm (+900), followed by a recognizable contingent that includes Jordan Spieth (+1700), Patrick Cantlay (+1800), and Justin Thomas (+2100).

Woods, a five-time Masters champion, sits much further back in futures odds at +7000.

FanDuel Betting Odds to Win The Masters

Numbers reflect pre-tournament odds at FanDuel Sportsbook as of April 4, 2023.

Scottie Scheffler +700
Rory Mcilroy +700
Jon Rahm +950
Jordan Spieth +1700
Patrick Cantlay +1800
Justin Thomas +2100
Tony Finau +2400
Dustin Johnson +2500
Xander Schauffele +2500
Cameron Smith +2800
Collin Morikawa +2800

Jason Day +2800
Cameron Young +3200
Max Homa +3400
Viktor Hovland +3700
Sam Burns +4100
Sung-Jae Im +4100
Will Zalatoris +4400
Brooks Koepka +4400
Sam Burns +4600
Hideki Matsuyama +4600
Corey Conners +5000

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