What is the Aon Risk Reward Challenge? Everything you need to know 

The Aon Risk Reward Challenge is a season-long competition that stretches across the PGA as well as LPGA Tour. The challenge runs across regular PGA and LPGA tour events with CBS Sports and Golf Channel as its official broadcast partners. It's a unique challenge that takes into consideration the two best scores on every designated hole from every participating event a player competes in.

Inaugurated in 2019, the event gets its name from a leading global financial services company named Aon, headquartered in the UK. The company focuses on providing health, retirement, and risk solutions for its customers. Along with golf, the company has been associated with other sports, like being the game shirt sponsor for Manchester United for several years.

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Aon Risk Reward Challenge format

At each PGA and LPGA Tour event, Aon and the tour select a hole to be the risk-reward challenge hole for the week. For each tournament, a player's two best scores on that week's decided hole will count towards the season-long score. This means that players who make a cut in a particular tournament have a higher chance of improving their score on the risk-reward hole as compared to players who do not make the cut.

At the end of the season, each player's top 40 holes measured against their pars will count towards their total score for the risk-reward challenge. To be eligible for the challenge, a player must play a minimum of 40 rounds at tournaments designated as the Aon Risk Reward Challenge.

The golfer with the lowest average score to par will win the $1 million prize.

One thing that sets apart the risk reward challenge from other tournaments is the equality in payments it offers to both male and female winners.

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Aon Risk Reward Challenge winners

World No. 2 Scottie Scheffler won the PGA Tour Aon Risk Reward challenge this year. He had a go-for green rate of 74 percent with a success rate of 20 percent across the par-4 holes and reachable par-5 holes. He completed a total of 60 rounds to win the title, with the lowest average score relative to par being -0.966.

"I love this competition, because you have to string together really good scores on some of the most challenging holes in golf – testing your ability and rewarding you for making better decisions. I am excited to win the Aon Risk Reward Challenge as it recognizes the work that my team and I put in throughout the season," said Scheffler.

The 2023 season has already begun with the next challenge set up at the ongoing RSM Classic on the 15th hole at par 5.

Earlier, Brooks Koepka won the challenge in 2019 followed by Nick Taylor in 2020, and Matthew Wolff in 2021.

In the LPGA Aon Rish Reward Challenge, Minjee Lee took the $1 million title by finishing with the lowest average score relative to par -0.917 completing a total of 64 rounds. She went for the green 58% of the time compared to the tour average of 32 percent.

"It's inspiring to see a company like Aon show up for women's golf in such a big way, and the equal prize money really showcases their dedication to gender equity, both on and off the golf course," said Lee. "I've had a great season this year, and winning the Aon Risk Reward Challenge is just the cherry on top."

Carlota Ciganda (2019) and Hannah Green (2021) were the previous award winners.