The International Cricket Council (ICC) has announced an overall $10 million pot for the Men’s Cricket World Cup 2023 in India.

The winners of the Men’s Cricket World Cup 2023 are set to receive $4 million of the $10 million total prize pool, ICC announced on Friday.

The runners-up of the final, to be played on November 19 at the Narendra Modi Stadium in Ahmedabad, will take home $2 million.

Similarly, the two losing semi-finalists will be awarded $800,000 each.

All 10 teams will play each other once in a round-robin format in the Group Stage, with the top four in the points table progressing to the semi-finals.

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There’s prize money up for grabs for winning their Group Stage games as well, with teams getting $40,000 for every victory. At the end of the Group Stage, teams that fail to reach the knockouts will each get $100,000.

The prize money also sets the precedent for the upcoming ICC Women’s Cricket World Cup in 2025, with ICC announcing equal sums for both men’s and women’s events during the Annual Conference held in Durban, South Africa in July 2023.