With the draw for the Australian Open about to get underway and the 128 male and female competitors vying for greatness about to learn their fate, we take a look at exactly what’s at stake here, beyond the silverware and the international glory. That’s right, we’re talking about the one thing we’re really here for: cold hard cash.
The Australian Open, like all grand slams, offers an eye-watering sum of money for a win, on top of qualification prizes that contestants net in addition as they progress through the rounds.
In 2024, there’s a massive $86.5 million being dished out in cash prizes this year, with a record $10 million added to the pool since last year.
“We’ve upped prize money for every round at the Australian Open with the major increases in qualifying and the early rounds of singles and doubles,” Australian Open Tournament Director Craig Tiley has said.
Despite the top-up, the Australian Open is the lowest paying of the big four competitions, offering slightly less than the French Open. This is despite prize money having more than doubled in the past 10 years as each grand slam vyes for recognition.
So, this is exactly how much each of the competitors stands to win in 2024.
Men’s and Women’s Singles Prize Money 2024
According to the Australian Open’s official website, the prize money this year for a win in the singles — both men’s and women’s — is a whopping $3.15 million. This is up slightly from last year’s $2.975 top prize.
Runner-ups will receive $1.75 million, an increase of $125,000 on 2023.
Semi-finalists will score $990,000 while quarter-finalists will get $600,000. Fourth-round finishers earn $375,000, third-round winners $255,000, second-round winners $180,000, and first-round winners $120,000.
Those who qualified for the first, second, and third rounds also received between $65,000 and $31,250.
Unlike many other sports, tennis is a rare example where equality across the genders has long been seen in prize money wins. Of course, this wasn’t always the case.
The US Open was the first major tournament to offer the same cash prize for a women’s win as a men’s. In 1972, women’s champion Billie Jean King was awarded just US $10,000 for her victory, compared to US $25,000 for the same achievement for her male counterpart. King threatened a boycott of the tournament, resulting in equal prize money for both genders the following year.
While the Australian Open did offer equal prize money, during the mid-80s and early 90s, that declined in the following years. It wasn’t until 2001 that Tennis Australia officially committed to equal prizes for men and women.
That’s at least a little better than the French Open, which didn’t do the same until 2006. Wimbledon was the last to join the big four, with a bit of a nudge from Venus Williams, finally offering equal prize money in 2007.
Doubles Prize Money 2024
Prize money for a doubles win has historically always been much lower than for a singles. This is partially down to the drawing power of doubles not being as commercially viable for sponsors and audiences, as well as the industry push to keep singles showdowns as the pinnacle of the game.
As such, the winners of the men’s and women’s doubles in 2024 will share a prize of $730,000, an increase of 35 grand on last year. Runners-up will get $400,000, while semi-finalists net $227,000 and quarter-finalists $128,000.
Third-round winners will get $75,000, second-round $53,000, and first-round $36,000.
Although prize money has increased in all categories for singles and same-sex doubles, mixed doubled prize money has taken a fairly substantial drop in the past few years. This is in part thanks to COVID, whose legacy can still be felt in the mixed doubles prize money being not what it once was.
In 2023, mixed doubles winners split a pot of $157,750, a drop of $32,250 on the year before. This year, that prize money has increased to $165,000 but is still well below the 2022 high.
Runners-up this year will get $89,450, a small, increase of $4,550 on last year. Semi-finalists will get $50,000, up $2,500, and quarter-finalists will get $26,500, a prize that has jumped up by $1,250.
Second and first-round leavers will also net a little more than they did last year, with prizes for the former rising $625 to $13,275 and prizes for the latter rising $300 to $6,900.
The Australian Open will start on Sunday, 14 January and will run until the finals on Sunday, January 28.
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