Purse Size and Winner Share at a Glance
The Masters Tournament prize money is among the highest in golf, driven by a strong television deal and sponsorship revenue. The total purse and winner share are set by Augusta National Golf Club and have grown consistently over time. This guide explains how The Masters distributes prize money, from the champion’s cut to earnings for amateurs and players who miss the cut.
| Metric | Verified Detail or Typical Range | Source / Context |
|---|---|---|
| Total Purse (recent years) | Approximately $20–22 million | Augusta National announcements and PGA Tour policy; ranges vary by year |
| Winner’s Share (approx.) | Around 18% of the total purse | Augusta National distribution model; not fixed by PGA Tour |
| Minimum Payout (top 60) | ≈70% of the previous year’s winner’s earnings, proratedPlayer Agreement and Tournament Regulations; ensures comparability year-to-year | |
| Amateur Status Cutoff | Top 50 plus ties after 54 holes; amateurs do not receive prize money | The Masters Tournament Rules and USGA amateur status rules |
| Ceremony Purse Addition | Several million dollars added specifically for the winner at the Champions Dinner | Augusta National practice; part of The Masters’ unique benefits for champions |
How The Masters Prize Money Is Set
Augusta National Golf Club determines The Masters prize money independently, rather than following the PGA Tour’s minimum purse policy directly. The tournament’s earnings come from broadcasting rights, title sponsorship, ticket sales, and hospitality programs. Each spring, organizers announce the updated total purse and distribution schedule. Prize money is not subject to the PGA Tour’s mandated minimums in the Player Agreement; instead, it follows terms outlined in the Tournament Regulations and the annual Player Agreement appendix for The Masters. These rules prioritize consistent, predictable payouts that mirror or exceed comparable events.
Key Distribution Features
- Winner share has historically been approximately 18% of the total purse.
- The payout schedule uses fixed percentages down to a defined cut point (top 60 and ties).
- Amateurs who make the cut receive no prize money and cannot accept appearance fees tied to the event.
- A special Champions Dinner bonus is added for the winner and has become a notable part of The Masters package.
Payout Structure and Notable Guarantees
The distribution is designed to reward deep runs while protecting player earnings through a guaranteed minimum for those who advance far. The minimum payout for players who finish in the top 60 is explicitly protected and is typically calculated as a percentage of the prior year’s winner’s earnings. This mechanism ensures stability from year to year even if the total purse fluctuates. Below is a simplified representation of how earnings taper through the field.
| Position or Range | Payout Approach | Notes |
|---|---|---|
| Winner | Fixed share of purse + Champions Dinner bonus | Approx 18% plus additional ceremony purse |
| Top 10 | Progressive percentage of purse | Higher finishers receive larger cuts |
| Top 60 | Minimum payout tied to prior year winner’s earnings | Guaranteed floor to protect earnings |
| Missed Cut | $0 prize money | Applies to professionals outside top 60 |
Amateur Status and Payout Rules
Only professional players and amateurs who have turned professional by the tournament’s cut can receive prize money. Amateurs who are among the top 50 plus ties after 54 holes earn a Masters Badge of Honour but no cash. Rule 3-6 of the Rules of Amateur Status, as applied by the USGA, prohibits an amateur from accepting prize money in events that are not approved by their national governing body. Because The Masters is not an approved amateur event for prize-money purposes, amateurs do not collect earnings and may not accept appearance fees linked to their participation. These rules preserve amateur eligibility for future major championships and are enforced rigorously by Augusta National and the USGA.
Historical Context and Comparison
When The Masters introduced a purse in the early years, amounts were modest by modern standards. Over decades, Augusta National aligned The Masters with other premier events, leveraging its media value and global audience. The winner’s percentage of the purse has generally remained stable compared with The Open Championship and PGA Championship, even as total purse values climbed. The addition of ceremonial bonuses and the Champions Dinner payout reflects The Masters’ unique traditions, while the payout schedule remains consistent with top-tier events worldwide. Understanding these long-term patterns helps contextualize current prize money levels and anticipate future adjustments.
What to Watch Going Forward
Future Masters prize money will continue to be influenced by media rights, sponsorship performance, and global economic conditions. Augusta National has historically raised the purse at a measured pace, balancing tradition with the financial realities of elite professional golf. Players, media, and fans can expect transparent announcements ahead of each spring tournament. For the most current official purse and winner share, refer to the Tournament Regulations published by Augusta National and the PGA Tour’s official purse listing for The Masters.