The T20 World Cup 2024 is set to be a landmark event in cricket history, not just for the thrilling matches it promises but also for the unprecedented prize money on offer. The International Cricket Council (ICC) has announced record-breaking prize money for the tournament, marking a significant increase from previous editions.

Historic Prize Money for Winners

For the first time, the winners of the men’s T20 World Cup 2024 will take home a dazzling trophy and a staggering prize money of at least US$2.45 million. This is the highest prize money ever awarded in the history of the tournament. To put this into perspective, it represents an increase of nearly $850,000 from the 2022 T20 World Cup held in Australia, where the champions, England, pocketed $1.6 million.

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Increased Total Prize Pool

The total prize pool for the 2024 tournament has more than doubled, jumping from $5.6 million in 2022 to an impressive $11.25 million this year. This substantial increase ensures that more teams benefit from the financial rewards, enhancing the competitive spirit and stakes of the tournament.

Prize Money for Runners-Up and Semi-Finalists

The runners-up in the T20 World Cup 2024 will receive a handsome sum of $1.28 million, a significant rise from the $800,000 awarded in 2022. Similarly, the losing semi-finalists will each be awarded $787,500, up from $400,000 in the previous edition.

Earnings for Super Eight and Other Teams

Teams reaching the Super Eight stage will also see a substantial boost in their earnings. Each of these teams will earn $382,500, a considerable incentive for advancing beyond the group stages. Teams finishing in the ninth to twelfth positions will receive $247,500 each, while the remaining teams will get $225,000 each. This structured prize distribution ensures that all participating teams receive a fair share of the financial rewards.

Match Win Bonuses

In addition to the stage-based rewards, teams will earn $31,154 for each match they win during the tournament, with the exceptions of the two semi-finals and the final. This per-match bonus encourages competitive play and rewards consistency throughout the tournament.

ICC’s Statement on Prize Money

In a statement, ICC Chief Executive Geoff Allardice highlighted the significance of the increased prize money. He remarked, “This event is historic in so many ways, so it is fitting that the prize money for players reflects that. Hundreds of millions of fans around the world will be entertained by the players in what we’re hoping to be an out-of-this-world event.”

Structure of the T20 World Cup 2024

The T20 World Cup 2024 features a new and exciting format. The tournament, which started with the USA beating Canada in the opening match, is divided into four groups, each comprising five teams. The top two teams from each group will advance to the Super Eight stage, where they will compete for a place in the semi-finals.

List of prize money won by the Champions over the years 

YEAR	WINNER	PRIZE MONEY	RUNNER-UP	PRIZE MONEY
2007	India	$1.2 million	Pakistan	$600,000
2009	Pakistan	$800,000	Sri Lanka	$400,000
2010	England	$800,000	Australia	$400,000
2012	West Indies	$1.1 million	Sri Lanka	$550,000
2014	Sri Lanka	$1.1 million	India	$550,000
2016	West Indies	$1.6 million	England	$800,000
2021	Australia	$1.6 million	New Zealand	$800,000
2022	England	$1.6 million	Pakistan	$800,000