The Three-Point Contest (officially named the Foot Locker Three-Point Contest and previously named the Three-Point Shootout) is a National Basketball Association (NBA) contest held on the Saturday before the annual All-Star Game as part of All-Star Weekend.
From 1986 to 2002, eight participants were selected to participate in each season's shootout. Since then, the contest has been open to just six competitors. Klay Thompson (GSW) is the most recent winner of the event which was held at Air Canada Centre in Toronto, Canada.
In this contest, participants attempt to make as many three-point field goals as possible from five positions behind the three-point arc in one minute. Players begin shooting from one corner of the court, and move from station to station along the three point arc until they reach the other corner. At each shooting station is a rack with five basketballs. Out of the five balls, four are worth one point (the standard orange Spalding game balls) and the fifth one (a red/white/blue ABA-style ball; often nicknamed the "money ball") is worth two points. The goal of this contest is to score as many points as possible within one minute. A perfect score used to be 30 points. In the 2014 contest, a rack consisting only of "money balls" was added, and can be placed on any of the 5 spots of the player's choice, bringing up the maximum possible score to 34 points.
In the qualifying round, each player has a chance to score as many points as possible. The three players with the top scores advance to the finals. The final round is played in the same way as the qualifying round, but players shoot according to the ascending order of their first-round scores. In each round, the shots and the score are confirmed by the referee and the television instant replay system. The final round will be shot in reverse direction (left to right corner for a left-handed shooter and vice versa). In the case of a tie, multiple extra rounds of 30 seconds (60 seconds in the final) are played to determine the winner.
Contestants compete for a total of $86,000. The first-place winner receives $35,000; the second-place finisher receives $22,500, and the third-place winner receives $15,000. Finishers, from fourth to sixth place, receive $4,500 each.