2023 Australian Open prize money increases

• The prize money for the 2023 Australian Open will total AUD 76.5 million
• This is an increase of 3.4 per cent over the 2022 tournament
• The tournament begins on January 16

The prize money for the 2023 Australian Open will total AUD 76.5 million ($51.5 million), Tennis Australia said on Thursday.

This is an increase of 3.4 per cent over the 2022 event. The Australian Open’s singles competition winner will get a check for AUD 2,975,000 ($2 million), while the runner-up will receive AUD 1,625,000 ($1 million).

Main draw first-round losers will receive AUD 106,250 ($71,509), an increase of 3.2% from the same level in 2022, while first-round first-round qualifiers will receive $26,000, an increase of 3% from the previous year.

The total prize money for the Australian summer of tennis will now exceed AUD 100 million ($67 million).

Craig Tiley, the Australian Open Tournament Director, said the prize money increased in every group stage. The intent behind it is that Tiley and co want players to have more to take home.

Craig Tiley. Photo/The Guardian

“At the Australian Open we’ve upped prize money for every round from qualifying, through to the finals, with the major increases in the early rounds, where these substantial rewards help players invest in their own careers and in many cases, set themselves up for success throughout the year,” he said.

The Australian Open starts on January 16, 2023, and the men’s final is scheduled on January 29, 2023, both in Melbourne. It is the first Grand Slam of the year and will feature Novak Djokovic this time.

Covid-19 negatively impacted the 2021 Australian Open, but 2022 saw an increase in attendance of 4.5%. Additionally, the prize money rose.

Tennis professionals will now compete for a piece of the AUD 75 million prize money. The Australian Open organisers increased prize money in 2022, which resulted in more money going to the top men’s and women’s singles finishers.

The prize money for the men’s and women’s singles champions has increased by 53% from the amount in 2021, coming to at least $2.875 million each (Australian dollars). Additionally, their doubles and mixed doubles competition winnings will climb by 33% and 26%, respectively.

The singles event runners-up will receive $1,575,000, or half of the total, and the defeated competitors will receive $895,000 each. The mixed doubles champions received $190,000 instead of the doubles competition winners’ $675,000 prize.

Rafael Nadal beat Denis Shapovalov to sail through to Australian Open semi-finals. Photo/Sky Sports

The Grand Slam reward is a significant motivation as you watch your favourite tennis players compete on the court as if their life depended on the outcome.

Thanks to its Grand Slam competitions, tennis is one of the most profitable sports in the world.

There are four Grand Slam tennis competitions, and each one offers the highest ranking points, money in prizes, and media and public attention. The Australian Open, U.S. Open, French Open, and Wimbledon.

However, there have been studies and arguments about the disparity in prize money between the top and bottom of the professional game.

A player’s success in Grand Slam competitions is one of the most crucial elements in judging that player’s calibre. These competitions receive the most ranking points, funding, and media coverage in tennis.

Which Grand Slam offers the biggest prize money is a frequently asked question.