Playing No. 18 for the third time in an hour, Watson hit a 3-wood to about 18 feet, then made a 22-foot putt, giving an emphatic fist pump as the ball dropped to end the largest playoff in Champions Tour history.
Craig Stadler missed a long eagle putt from the front of the green, and R.W. Eaks missed his 12-footer for eagle.
It was the second victory of the season for Watson, who won the Senior PGA Championship in May.
Gil Morgan, Joe Ozaki, Dana Quigley and David Eger also finished at 9-under for the tournament after a wild final nine holes where the lead changed on almost every hole.
To start the playoff, all seven went off the 18th tee in the same group, but only Morgan was in position to reach to the green in two. His 5-wood was struck well, but the ball was slightly left of the flag and landed in the bunker next to the green.
Eaks hit a perfect pitch with his third shot to 18 inches, putting pressure on the others. Watson hit his wedge over the green onto the fringe, but chipped in from 23 feet, forcing others to make birdie to stay in the playoff.
Only Eaks and Stadler were able to match. Stadler confidently sunk his 22-foot putt, while Eaks patiently waited before tapping in his birdie putt.
Morgan and Eger missed 12 foot birdie putts, while Ozaki's shot out of the green-side bunker hit the edge of the cup but rolled past.
Watson, Eaks and Stadler went back and played 18 again.
[Associated Press;
by Tim Booth]
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