Tennis players gearing up for the upcoming Australian Open have a bigger prize in sight, following the organizers’ announcement of a record $10 million boost to the multi-million-dollar reward on Friday.

The prize pool is set to surge by $10 million Australian dollars (equivalent to $6.85 million US dollars), marking a substantial 13% rise from the previous year and reaching an unprecedented total of $86.5 million.

Significantly, the largest increases in prize money will benefit players exiting during qualifying rounds and the initial stages of singles and doubles matches, with increments ranging from 13% to 20%. Notably, prize money elevates across every round.

Winners of the singles tournament will claim a prize of $3.15 million, while runners-up are set to receive $1.72 million.

For instance, first-round qualifiers will earn $31,250—an increase of 20% from 2023—while semi-finalists can anticipate a payout just shy of $1 million.

The organizers emphasized that the prize money has more than doubled since 2015 when it stood at $40 million.

Australian Open Tournament Director Craig Tiley highlighted, “We’ve increased prize money for each stage of the Australian Open, particularly enhancing rewards for qualifying rounds and the initial rounds of singles and doubles.”

Tiley added, “Our aim is to ensure that Australia remains the starting point for the global tennis season, providing players and their teams with everything necessary to excel and continue relishing the Happy Slam experience.”

Scheduled from January 14-28 in Melbourne, the 2024 Australian Open promises an exciting tournament ahead.