The excitement among cricket fans around the world is palpable as the ICC Men’s Cricket World Cup 2023 approaches, scheduled to begin on October 5. Even before the tournament’s commencement, stadiums are filling up with booked seats. Adding to the anticipation, the International Cricket Council (ICC) has officially announced the prize money for the World Cup 2023, set to be held in India.

The total prize money pool for the ICC Men’s Cricket World Cup 2023 has been set at a whopping US$10 million (approximately Rs 82.93 crore). The winner of the tournament will receive a substantial sum, with the ICC announcing a prize of US$4 million (about Rs 33.18 crore) for the victorious team.

In addition to the champions, the runner-up of the final, which is scheduled to be played at the grand Narendra Modi Stadium in Ahmedabad on November 19, will receive a commendable prize of US$2 million (roughly Rs 16.59 crore).

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Teams participating in the group stage will also have a chance to earn prize money for each victory. Every win during this stage will earn a team US$40,000 (approximately Rs 33.17 lakh). However, teams that do not make it to the knockout stage at the conclusion of the group stage will still receive a respectable US$100,000 (about Rs 82.94 lakh) each. There will be a total of six such teams.

The ICC has emphasized that this prize money allocation will set a precedent for the upcoming ICC Women’s Cricket World Cup in 2025. The governing body has announced that equal amounts of prize money will be awarded to both the men’s and women’s tournaments during the annual conference, scheduled to be held in Durban, South Africa in July 2023.

The 13th edition of the ICC Men’s Cricket World Cup will feature a total of 10 participating teams. India has automatically qualified as the host nation, while New Zealand, England, Bangladesh, Pakistan, Australia, Afghanistan, and South Africa have advanced from the Super League. Sri Lanka and the Netherlands had to compete in the qualifiers to secure their spots in the World Cup.

The cricket extravaganza will consist of 48 matches played across 10 different venues. It is set to kick off on October 5 with a match between the defending champions, England, and New Zealand. Prior to the World Cup’s commencement, each participating team will engage in two practice matches to prepare for the intense 46-day tournament.