Tiger Woods and Phil Mickelson are preparing to go head-to-head for the first time in a winner-takes-all $9 million match at the Shadow Creek Golf Course in Las Vegas on Friday.

The long-time rivals came together at Shadow Creek to promote "The Match" which is closed to the public but will be available as a pay-per-view event for $19.99. The duo held a news conference where they squared up against each other in mock boxing style, but it ended with a laugh.

The match on Friday is a culmination of a long-standing rivalry between the two golfers since the time Woods broke into the pro golfing tour. Mickelson was viewed as the 14-time major winner’s only genuine rival when he was in his prime.

Apart from the $9 million prize money, which is being funded by the sponsors, the duo has decided to place side-bets in order to spice up the competition. The money for that is expected to come from the golfers’ own pockets with the winnings going to the charity of their choice.

Tiger Woods
Tiger Woods (R) and Phil Mickelson (L) will face off in a one-off match in Las Vegas on Friday. In this picture, Mickelson and Woods face-off during a press conference before The Match at Shadow Creek Golf Course in Las Vegas, Nevada, Nov. 20, 2018. Harry How/Getty Images for The Match

Mickelson was the first to make a wager and he baited Woods by asserting that he is willing to bet $100,000 that he will birdie the first hole at Shadow Creek on Friday. His playing partner on the day was not one to back down and immediately said: “double it”.

"I feel like the first hole is a great hole for me," Mickelson said, according to ESPN. "And I believe -- in fact I'm willing to risk $100,000 that says I birdie the first hole. So that's how good I feel heading into this match."

"So you think you can make birdie on the first hole?" Woods responded. "I know I'm going to make birdie on the first hole."

"Double it," was Woods quick answer, to which Mickelson quipped. "Did you see how I baited him like that? Yes. $200 [thousand] says I birdie the first hole."

Mickelson is aware that Woods has had the upper hand in their rivalry throughout their careers. The latter went on to break every record Mickelson set and the former is keen to get one over his long-time rival on Friday, just so that he can “talk smack” when they are in the champions locker room at Augusta – the home of The Masters.

"This is a unique opportunity to do something that I've had a hard time doing, which is to get a leg up on Tiger even if it's just one day," Mickelson said. "It's great to win the $9 million, but I just don't want to lose to him. The bragging rights are the thing. I want to be able to rub it in; I don't want it to be rubbed in. I want to sit in the champions locker room at Augusta [National, home of the Masters] and talk smack."

Mickelson, meanwhile, is hoping "The Match" is well received by fans around the world and believes it is a unique contest. To make it more interesting for the viewers, he revealed that both the players along with their caddies will be wearing microphones.

“Hopefully, it will be received well by the viewers at home,” Mickelson added during the press conference. “It's a glimpse into the future of sports. We'll have live odds on the screen so the viewers can place wagers, and they'll be able to hear all of the banter.”

“This event is designed to be a unique golfing experience for the viewer, with the insight, the drone coverage, the live on-screen gambling, and the live microphones,” he added.