Continuing the general theme of increasingly lucrative prizes across the Grand Slams, the Australian Open prize money for 2024 represents a sizeable jump from last year.

As the very best that tennis has to offer gear up for the first Grand Slam on the calendar, so too are the organisers, who have promised a record total prize pool for this year’s Australian Open.

As has been customary since 2007 across each of the four majors, men and women will receive the same level of prize money at each stage of the tournament.

Organisers say they have increased the winnings in each of the seven rounds, promising a fairer share of the prize pool to those first round competitors just breaking into the fold for Slams.

The total prize pool for 2024 stands at $57.9 million – a 13 percent increase on last year’s edition. Despite this year-on-year jump, the Australian Open still ranks as the least lucrative Grand Slam out of the four, although it hold significant importance as the launchpad for the season.

Below we have outlined what players stand to make at each stage of the tournament.

Australian Open Prize Money 2024

All figures are shown in USD, converted at the current rate of AUD$1 = USD$0.67.

As mentioned, there has been a particular focus from Grand Slam organisers to better reward those lower down in the world rankings. Tennis has been self-critical of the lack of support for those floating around Slam contention, or those who regularly make the early rounds, and the Australian Open have listened.

The largest increase from 2023 for a single round comes for those in the first qualifying stage, with a 20 percent jump year-on-year.

Although the Australian Open carries the least prestige of the four Slams having been created nearly three decades after Wimbledon, the push from organisers to run concurrently with the prize money of the other three majors is clear to see.

Prize money in Melbourne has more than doubled since 2015, and quadrupled over the past 20 years.

With qualifiers already underway at Melbourne Park, those at the lower end of the field are already reaping the benefits of their tournament prize money. At the top end of the pile, single-season and all-time prize money record holder Novak Djokovic –  who is the warm favorite according to US sportsbooks –  is aiming to lift an 11th Australian Open title, while Aryna Sabalenka attempts to defend her one and only Slam to date.

You can find a full Australian Open picks and predictions preview by following the link.