Both players also have their own wagers on how the event will play out. Woods doubled Mickelson's bet of $100,000 he would birdie the opening hole, a par-four traversing 415 yards, according to ESPN's Bob Harig.
Odds and Prop Bets (Per OddsShark)
Woods at -1.5 strokes: 87-100
Mickelson at +1.5: 87-100
Woods at +1.5: 33-100
Mickelson at -1.5: 12-5
Color of Mickelson's Shirt
Any Other: 4-1
Color of Woods' Shirt
Any Other: 3-2
OddsShark's Stephen Campbell backs Woods to cover the spread at -1.5 strokes. He believes the 42-year-old has the edge when it comes to form, citing his marginally better performance at this year's Ryder Cup, as well as a Tour Championship victory.
Woods also has history on his side, specifically an 80-43 won-loss advantage in previous head-to-head meetings between the pair. ESPN.com's Nick Pietruszkiewicz also broke down the numbers each player has posted during this calendar year.
Significantly, Woods has managed greater distance and better accuracy with the driver. Both things should come in handy on a course where "the regular tees are a still-challenging 6,600 yards," per Matt Newman of the PGA official website.
Mickelson, 48, will hope Woods' power with the driver deserts him because the former has the greater range of recovery shots to lean on.
The occasion isn't likely to leave 14-time major winner Woods overawed, but Mickelson has five majors to his credit and is a veteran of the big occasions.
Even so, it's safe to trust the oddsmakers on this one and back Woods to win.