The Cricket World Cup is under way in India as ten nations do battle to claim the biggest prize in the sport.
England are the defending champions after a dramatic final-ball victory over New Zealand on home soil in 2019 but face stiff opposition if they are to retain their title.
India will be eyeing up their first World Cup triumph since 2011 as they host the entire tournament for the first time, while South Africa, New Zealand, Australia and Pakistan will likely be in contention.
The final is set to take place in the Narendra Modi Stadium on November 19 with the winner taking home a healthy financial prize.
Here’s everything you need to know about the prize money for the Cricket World Cup.
What is the prize money for Cricket World Cup 2023?
The ICC has allocated a total of $10m in prize money for the 10 nations across the tournament.
How much do the World Cup winners get in prize money?
The winners of the World Cup final will earn $4m for lifting the trophy.
How much do the World Cup runners-up earn?
The nation that falls short in the final will earn half as much money, taking home $2m
What prize money do the rest of the teams earn?
Four teams qualify out of the round-robin stage and into the semi-finals. While the victors of those contests will have the chance to compete for the trophy, the losing semi-finalists will both earn $800,000 for their efforts.
The remaining six teams who are eliminated at the group stage will all receive a guaranteed $100,000, while there is also an extra $40,000 available for the winner of each group stage match.
Therefore, should a team win all nine games in the group stage, they will pocket an extra $360,000.
How does World Cup 2023 prize money compare to previous tournaments?
The prize purse for the 2023 men’s edition is the exact same amount as the previous tournament in 2019 which also awarded $4m to the winner. It is an increase on the 2015 tournament – two editions prior – which saw $3.75m awarded to the winner, $1.75m to the runner-up and $600,000 to the losing semi-finalists.