Mickelson made a four-foot birdie putt on a specially set up 93-yard, par-3 to win a low-quality contest which failed to live up to the hype.

The match at Shadow Creek Golf Club finished in the dark with lights set up around the hole.

Mickelson was one up after 16 holes but Woods tied it with birdie from the fringe of the green on the par-3 17th hole.

Both birdied the par-5 18th and then parred the first play-off hole before it went to the par-3 extra hole that they kept playing until there was a winner.

Only 700 invited guests were allowed to watch the event billed as golf's first pay-per-view broadcast.

It was marred by technical difficulties with viewers unable to view it on their televisions after paying $19.95. Turner and Bleacher Report representatives sent out links on social media allowing people to view it for free on their computers and mobile devices.

Five-time major winner Mickelson also recovered from losing a US$200,000 (AU$275,000) side bet on the opening hole by winning three nearest-the-pin contests for a total of US$600,000 (AU$825,000), with that money reportedly coming from the players themselves and being donated to charity.

Mickelson won the US$9 million contest against Woods. PHOTO: Christian Petersen/Getty Images for The Match.

"A day like today is not going to take anything away from his (Woods') greatness, he's the greatest of all time, but to have some smack talk for the next few years means a lot to me because I don't have much on him," Mickelson said.

Even the possibility of winning a $1m side bet for an eagle on the par-4 9th failed to produce any quality play.

After being pegged back on more than one occasion, Mickelson edged in front again when Woods bogeyed the 15th.

Mickelson looked set to have a putt to win the match on the 17th when Woods missed the green with his tee shot.

However, 14-time major champion Woods chipped in for an unlikely birdie and Mickelson could not match it from 12 feet, meaning the match was all square heading to the 18th.

"You've been doing that crap to me for 20 years, I don't know why I'm surprised now," Mickelson told Woods.

Both made birdies on the par-5 to send the match to extra holes.

The players returned to the 18th for the first play-off hole and Woods missed from seven feet for a winning birdie.

Mickelson missed from 20 feet for a winning birdie on the first playing of the 93-yard makeshift hole and from five feet the second time but made no mistake at the third time of asking to finally seal victory.