The International Cricket Council (ICC) has announced that men's and women's cricket World Cups teams will receive equal prize money in all World Cup events, starting with the 2024 Women's T20 World Cup. Set to take place next month in the UAE, this tournament will make cricket the first major team sport to offer equal prize money across genders.

The move, announced during the ICC Annual Conference in July 2023, brings forward the goal of prize parity from 2030 to 2023. According to the ICC, this decision underscores their ongoing commitment to growing and supporting women’s cricket globally.

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Prize money for the 2024 Women’s T20 World Cup has notably increased. The winning team will now earn $2.34 million, a sharp 134% rise from the $1 million Australia received in 2023. Runners-up will walk away with $1.17 million, more than double the $500,000 awarded last year. Semi-finalists won’t be left out either, with each team taking home $675,000, up from $210,000 in 2023. Overall, the total prize fund for the tournament has skyrocketed to $7.96 million, a staggering 225% increase from the $2.45 million offered previously.

On top of these changes, teams will now earn $31,154 for each group stage win. Teams that don’t make it to the semi-finals will share a $1.35 million pool, distributed according to their final standings. Teams finishing third and fourth in their groups will receive $270,000, while fifth-place teams will earn $135,000. Even the teams that exit early are guaranteed a minimum of $112,500.

This prize parity initiative aligns with the structure introduced in the 2022 ICC Women’s Cricket World Cup, which had a total prize pool of $3.5 million. The 2024 Women’s T20 World Cup will kick off on October 3, with Bangladesh facing Scotland at Sharjah Cricket Stadium.

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