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Players Championship 2016 Payout: Breaking Down Prize-Money Purse Distribution

Golf's fifth major championship has arrived. The Players Championship gets underway Thursday at TPC Sawgrass' Stadium course, with a majority of the world's top golfers descending to Ponte Vedra Beach.

Looking at the pre-tournament odds, though, you might notice something a little bit off. The tournament favorite is not world No. 1 Jason Day. It's not world No. 2 Jordan Spieth. It's world No. 3 Rory McIlroy, who hasn't won on the PGA Tour in almost a full calendar year.

Odds Shark has McIlroy at +750 (bet $100 to in $750), and it's not even as if McIlroy has a history of dominance at Sawgrass.