ICC announces equal prize money for men's and women's World Cups from 2024

The winners will receive $2.34 million, a substantial 134 per cent increase from the $1 million awarded to Australia in 2023

The International Cricket Council (ICC) announced on Tuesday that men and women will receive equal prize money in World Cups, beginning with the Women’s T20 World Cup 2024, which is set to take place in the UAE next month.

This decision, made during the ICC Annual Conference in July 2023, accelerates the timeline for prize money parity by seven years, moving the original goal from 2030 to 2023. With this move, cricket becomes the first major team sport to offer equal prize money for both men’s and women’s World Cup events.

The tournament, which will be hosted in the UAE, will see the champions receive $2.34 million, marking a significant 134 per cent increase from the $1 million awarded to Australia in 2023. The runners-up will also benefit from this increase, earning $1.17 million, up from the previous year’s $500,000.

Losing semi-finalists will take home $675,000 each, compared to $210,000 in 2023. The total prize fund for the 2024 tournament has been raised to $7,958,080, representing a 225 per cent jump from the $2.45 million offered last year.

This prize pool increase is part of the ICC’s ongoing commitment to elevating women’s cricket, aiming to foster its growth by 2032. Moving forward, teams will be rewarded equally for finishing positions in corresponding events, as well as for individual match wins.

For each group stage victory, teams will earn $31,154. The six teams that do not reach the semi-finals will share a $1.35 million pool, divided according to their standings. Teams finishing third and fourth in their groups will receive $270,000, while teams placed fifth will receive $135,000. All participating teams are guaranteed a minimum of $112,500.

This increase aligns with the prize fund of $3.5 million from the ICC Women’s Cricket World Cup 2022. The ICC Women’s T20 World Cup 2024 kicks off on October 3 with Bangladesh playing Scotland at the Sharjah Cricket Stadium.