The 2024 Australian Open is set for a historic Sunday start and the prize money on offer will also be historic, with another increase compared to last year.
In 2023, players received a total of A$76.5 million in prize money across all competitions played at the first Grand Slam tournament of the year. In 2024, the total prize money will be A$86.5 million, and on top of that, the points distribution changed too in 2024.
That applies only to men's tournament, as the ATP announced points distribution changes across all levels of competitions. The WTA did something similar, but that did not impact the Grand Slam tournaments.
On the men's entry list, Novak Djokovic is the name that stands out, as the ten-time Australian Open champion will be defending his title in Melbourne from January 14th to 28th, while his main rival, Rafael Nadal will be making comeback to tennis.
Carlos Alcaraz will lead the young generation alongside the likes of Jannik Sinner, Holger Rune, and Ben Shelton. Last year's finalist, Stefanos Tsitsipas, will be joined by the likes of Daniil Medvedev and Alexander Zverev in an attempt to challenge for the title.
On the other hand, on the women's entry list, Aryna Sabalenka is the defending champion, and the likes of Iga Swiatek, Coco Gauff, Elena Rybakina, and Jessica Pegula are among the favourites.
But there will also be multiple comeback stories in the women's draw with four-time Grand Slam champion Naomi Osaka returning to tennis. Former US Open champion Emma Raducanu does as well, and so will former world no. 1 Angelique Kerber.
With A$86.5 million distributed in the prize money, the men's and women's singles champions will take A$3,150,000 and a very valuable 2,000 ranking points, which will guarantee them a stay in the Top 20 of the rankings throughout the season.
For losing in the final, in both men's and women's tournament, players will get 1,300 points and A$1,725,000. The point distribution starts to differ from the semi-finals, even though the prize money always stays the same.
For playing in the semifinals, men get 800 ATP points, while women get 780 WTA points, and both get A$990,000. Quarterfinalists will receive A$600,000, while men will get 400 points and women 430 points.
The distribution starts at very nice A$120,000 for a first-round exit, with 10 points in both competitions. For making it to the second round, men will get 50 points, while women will receive 70 points and A$180,000.
The third-round participation guarantees 100 points for men and 130 points for women, along with A$255,000. The reward increases in the fourth round with 200 ATP points and 240 WTA points, along with A$375,000.
The overall prize money on offer marks 13% and A$10 million increase from last year, and the tournament director, Craig Tiley, was happy that the tournament is able to improve conditions for players.
"It is critical to the continued success of the Australian Open that we ensure that the best players in the world are compensated appropriately as we know this allows players to invest in their own careers and in many cases, helps set them up for success throughout the year."
Be sure to see the full prize money and points distribution for the 2024 Australian Open in the overview below.
2024 Australian Open ATP & WTA Prize Money & Points Overview:
| Round | ATP Points | WTA Points | Prize Money |
|---|---|---|---|
| Winner | 2 000 points | 2 000 points | A$3,150,000 |
| Finalist | 1 300 points | 1 300 points | A$1,725,000 |
| Semi-finalists | 800 points | 780 points | A$990,000 |
| Quarter-finalists | 400 points | 430 points | A$600,000 |
| 4th round | 200 points | 240 points | A$375,000 |
| 3rd round | 100 points | 130 points | A$255,000 |
| 2nd round | 50 points | 70 points | A$180,000 |
| 1st round | 10 points | 10 points | A$120,000 |
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