The winner of the 150th British Open will earn $1.29 million - roughly an increase of $60,000 compared to the previous year.
A total purse of $7.3 million will provide the runner-up with $759,000, and $496,000 for third place at the event being held at St. Andrews from July 15-18.
Royal and Ancient Club chief executive Peter Dawson says organizers have taken into account the pound's weakened position against the dollar and the euro.
"The Open Championship sits at the forefront of world golf and it is appropriate that our prize fund reflects that position in the game," Dawson said Tuesday. "Over the last 18 months we have had to take account of the pound's weakened position against the U.S. dollar and the euro, and we have increased our prize money accordingly."
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