In the land of one of the greatest NBA 3-point shooters – Indiana Pacers legend Reggie Miller – another of basketball’s all-time great clutch 3-point shooters – Milwaukee’s Damian Lillard – will try to defend his 3-point contest title at All-Star Weekend in Indianapolis.

Lillard beat out Indiana’s Tyrese Haliburton and then-Indiana guard Buddy Hield in last year’s 3-point contest final round, and he needed to make his final shot to edge Hield 26-25.

Lillard, who played for Portland last season, will try to become the first back-to-back winner since Toronto’s Jason Kapono in 2007 and 2008.

Here is everything you need to know about the NBA’s All-Star 3-point contest:

Who are 2024 NBA All-Star 3-point contest participants?

• Damian Lillard, Milwaukee Bucks (2023 3-point contest winner)

• Malik Beasley, Milwaukee Bucks

• Tyrese Haliburton, Indiana Pacers

• Jalen Brunson, New York Knicks

• Karl-Anthony Towns, Minnesota Timberwolves (2022 3-point contest winner)

• Trae Young, Atlanta Hawks

• Donovan Mitchell, Cleveland Cavaliers

• Lauri Markkanen, Utah Jazz

When is the NBA All-Star 3-point contest?

The 3-point contest is Saturday at the Indianapolis Colts’ Lucas Oil Stadium in downtown Indianapolis. The event will take place after the skills challenge and before the Steph Curry vs. Sabrina Ionescu 3-point shootout and the dunk contest.

How to watch the 3-point contest

All-Star Saturday Night is on TNT and coverage begins at 8 p.m. ET.

How much money does the 3-point contest winner earn?

Here is how the prize money is distributed:

• First place: $60,000

• Second place: $40,000

• Third place: $25,000

• Fourth place: $15,000

• Fifth place: $15,000

• Sixth place: $15,000

• Seventh place: $15,000

• Eighth place: $10,000

What are the NBA 3-point contest rules?

Ball racks are stationed at five locations around the 3-point line, and four of the racks contain four orange basketballs and one money ball. The orange basketballs are worth one point, and the money ball, which has to be the last ball shot on each rack, is worth two points. The fifth rack will be an all money-ball rack and each competitor gets to choose where this rack will be among the locations. Each money ball on this rack is worth two points. Two pedestals are placed deeper than the 3-point line, edging closer to the center court logo, and each pedestal holds a white basketball. A made shot from deep range is worth 3 points.

Each contestant has 70 seconds to shoot as many of the 27 basketballs as he can.

3-point contest odds

Here are the 3-point contest odds:

• Lillard +475

• Towns +550

• Beasley +575

• Young +600

• Haliburton +600

• Markkanen +625

• Brunson +625

• Mitchell +700

What is the record for most points in an NBA 3-point contest round?

Golden State’s Steph Curry and Indiana's Haliburton share the record with 31 points out of a possible 40.

Who has won the most 3-point contests?

Boston’s Larry Bird and Chicago’s Craig Hodges have each won the event three times.

Who has won the 3-point contest year by year?

• 2023: Damian Lillard, Portland Trail Blazers

• 2022: Karl-Anthony Towns, Minnesota Timberwolves

• 2021: Steph Curry, Golden State Warriors

• 2020: Buddy Hield, Sacramento Kings

• 2019: Joe Harris, Brooklyn Nets

• 2018: Devin Booker, Phoenix Suns

• 2017: Eric Gordon, Houston Rockets

• 2016: Klay Thompson, Golden State Warriors

• 2015: Steph Curry, Golden State Warriors

• 2014: Marco Belinelli, San Antonio Spurs

• 2013: Kyrie Irving, Cleveland Cavaliers

• 2012: Kevin Love, Minnesota Timberwolves

• 2011: James Jones, Miami Heat

• 2010: Paul Pierce, Boston Celtics

• 2009: Daequan Cook, Miami Heat

• 2008: Jason Kapono, Toronto Raptors

• 2007: Jason Kapono, Toronto Raptors

• 2006: Dirk Nowitzki, Dallas Mavericks

• 2005: Quentin Richardson, Phoenix Suns

• 2004: Voshon Lenard, Denver Nuggets

• 2003: Peja Stojakovic, Sacramento Kings

• 2002: Peja Stojakovic, Sacramento Kings

• 2001: Ray Allen, Milwaukee Bucks

• 2000: Jeff Hornacek, Utah Jazz

• 1998: Jeff Hornacek, Utah Jazz

• 1997: Steve Kerr, Chicago Bulls

• 1996: Tim Legler, Washington Bullets

• 1995: Glen Rice, Miami Heat

• 1994: Mark Price, Cleveland Cavaliers

• 1993: Mark Price, Cleveland Cavaliers

• 1992: Craig Hodges, Chicago Bulls

• 1991: Craig Hodges, Chicago Bulls

• 1990: Craig Hodges, Chicago Bulls

• 1989: Dale Ellis, Seattle SuperSonics

• 1988: Larry Bird, Boston Celtics

• 1987: Larry Bird, Boston Celtics

• 1986: Larry Bird, Boston Celtics

This article originally appeared on USA TODAY: How to watch NBA 3-point contest 2024: Time, TV channel, participants