The Open is increasing its purse to $16.5 million, with the winner at Royal Liverpool next week receiving $3 million.
The total prize fund was $14 million a year ago. Cameron Smith, who won at St. Andrews, won $2.5 million.
The second- and third-place finishers at this year’s Open will also receive more than $1 million, earning $1.708 million and $1.095 million, respectively.
Prize money has increased this year at all majors, with the US Open rising to $20 million, the most among the four Grand Slam events. Wyndham Clark was paid $3.6 million for winning her first major title.
The Masters increased his purse to $18 million ($3.24 million for Jon Rahm) while the PGA Championship rose to $17.5 million ($3.15 million for Brooks Koepka).
“Our goal is to ensure The Open remains at the top of world golf and we have nearly doubled the prize fund since 2016,” R&A chief executive Martin Slumbers said in a statement.
Slumbers noted the “substantial increases” in prize funds across golf, with the PGA Tour setting purses of $20 million for its lofty events and $25 million for The Players Championship. LIV Golf, funded by Saudi Arabia, offered purses of $25 million ($20 million for individual competitions) last year.
Slumbers said the R&A has also raised prize money for the Women’s British Open, as well as putting more resources into elite amateur competition and programs to increase participation in golf.
“We believe that achieving this balance is vital to the long-term future of the sport,” he said.
The Open begins on July 20.
Associated Press contributed to this report.