The iconic green jackets are back. 

The 86th edition of the Masters Tournament at Augusta National Golf Club kicks off Thursday morning with the first set of players teeing off at around 8 a.m. ET. 

In order to better appreciate this prestigious event, you have to understand the history and unique traditions that make the Masters, the Masters. 

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The first tournament was held in 1934, just a few years after legendary American golfer Bobby Jones established Augusta National Golf Club with the help of investment banker Clifford Roberts, who was the longtime chairman of the club from 1931-1976. 

Bobby Jones Augusta National Golf Course

Bobby Jones tries out his "perfect course" in the making. Here's a rear view of the King of Golfers, Bobby Jones, testing shots on his new National Golf Course, which will be completed next December. Bobby stated that the course, when completed, will exceed his highest expectations. He was elated over the layout of traps, bunkers, and holes. With Jones are Dr. Alister W. MacKenzie, noted Scottish Golf architect who has collaborated with Jones, and Clifford Roberts, Wall Street financier. (Getty Images)

The Fruitland Nurseries, a 365-acre property nestled on the border of Georgia and South Carolina, was purchased in 1931 for $70,000, and construction on the site began shortly after, under the direction of famed golf course architect Dr. Alister Mackenzie.

The design of the course was built to incorporate the natural beauty of the grounds. The rolling greens are hard to capture in pictures but if you’re ever lucky enough to step on the grounds, it's hard not to notice their sheer size. 

"Our overall aim at the Augusta National has been to provide a golf course of considerable natural beauty, enjoyable for the average golfer and at the same time testing for the expert player striving to better par," Jones said of the course at the club’s opening in 1933. "We want to make bogies easy if frankly sought, pars readily obtainable by standard good play, and birdies, except on par 5’s, dearly bought." 

Augusta National Archive

The 13th hole during the 1980's at Augusta National Golf Club in Augusta, Georgia.  (Photo by Augusta National/Getty Images)

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In his 1920 book "Golf Architecture," Dr. Mackenzie highlighted the importance of incorporating the natural features of the land over building artificial ones. He wrote that the best courses are "almost entirely due to utilization of natural features to the fullest extent and to the construction of artificial ones indistinguishable from nature."  

American golfer Horton Smith won the first masters, originally called the Augusta National Invitation Tournament for its first five editions, shooting 4-under par 284. The winner's earnings at the time was $1,500. 

Horton Smith Augusta National Archive

Horton Smith tees off as Bobby Jones watches during the 1956 Masters Tournament at Augusta National Golf Club in April 1956 in Augusta, Georgia.  (Photo by Augusta National/Getty Images)

But Smith didn’t receive the iconic green jacket upon winning – a tradition that began in 1937 to allow members to be more noticeable. Winners began receiving the jackets in 1949. 

Augusta National Bobby Jones

Ken Venturi, Clifford Roberts and Bobby Jones, far right, watch as Jack Burke, Jr. receives a Green Jacket from Cary Middlecoff during the 1956 Masters Tournament Presentation Ceremony at Augusta National Golf Club in April 1956 in Augusta, Georgia.  (Photo by Augusta National/Getty Images)

The Masters' early notoriety evolved not only because of the golfers it brought in, but also because of the tournament’s media progression. The first nationwide radio broadcast was in 1934 and seven years later the first radio tower was built on the course. In 1956, the game was broadcast by CBS and in 1967 the tournament was televised internationally for the first time. The rest is history.  

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Augusta National Archive

Media work in the Western Union Press Tent during the 1955 Masters Tournament at Augusta National Golf Club on April 10, 1955 in Augusta, Georgia.  (Photo by Augusta National/Getty Images)

The Masters is not without controversy. In 1975, Lee Elder became the first African American to participate in the tournament. Then in 2012, the club welcomed its first female members: former Secretary of State Condoleezza Rice and business executive Darla Moore.

There are currently only around 300 members.

Getting invited to the Masters is no easy feat, but getting a ticket as a fan is also a challenge. 

The first observation stand for fans was built in 1962 and the following year the club began limiting attendance. In 1964 advanced ticket purchasing was put into place but just eight years later the patron badge waiting list was implemented. 

Masters practice round

Golf fans line the railing and hillside near the ninth green during the Par 3 contest on Wednesday, April 8, 2015, at Augusta National Golf Club in Augusta, Ga.  (Jeff Siner/Charlotte Observer/Tribune News Service via Getty Images)

In the 1990s limited tickets to practice rounds went up for sale. Now patrons can enter a lottery for a $75 daily practice round ticket or a $115 daily tournament ticket but the second-hand market prices for these tickets are exceptionally more expensive. 

The tournament is filled with unique traditions – fans are referred to as patrons, no phones are allowed on the grounds – but all of them make the Masters what it is. Some of golf's most incredible moments have happened here. As Jim Nantz best described it, it’s "A tradition unlike any other."