Gender equity in prize money at the T20 World Cup 2024: A major milestone

The International Cricket Council (ICC) made a groundbreaking announcement on Tuesday, 17 September 24, to offer an equal amount of prize money in both men’s and women’s cricket tournaments, starting with the upcoming Women’s T20 World Cup 2024. ICC has increased the total budget of $7,958,000 (INR 66,64,72,090), with winners this year receiving $2.34 million, more than double of what was awarded to Australia in 2023. The Women’s T20 World Cup 2024 is scheduled to start on the 3rd of October and will take place in the UAE till the 20th.

The historic decision was finalized in July 2023 at the ICC Annual Conference, and what makes this announcement more remarkable is how the ICC Board achieved the goal of equating the prize money seven years before its previous schedule of 2023. This is a milestone in the history of sports as it makes cricket the first ever major team sport to introduce gender equity in prize money for the sport events.

The move was incorporated to support the ICC’s aim to encourage women’s sports and boost their growth by 2032. This strategy results in the distribution of equal prize money to every team for both the finishing positions and winning positions at the events.

Here’s the breakdown of the prize money at the Women’s T20 World Cup 2024:

• Total prize money: the total prize pool for the tournament is $7,958,000 (INR 66,64 Cr), which increased by a rate of 225% as compared to 2023.
• Winner: The winner will be awarded with the prize money of $2,340,000 (INR 19,60 Cr), increased by the rate of 134% as compared to the past year.
• Runner-up: Runner-ups will receive an amount of $1,170,000 (USD), increased by the rate of 134% from the last year.
• Semi-finalist: Semi-finalist will receive an amount of $675,000, increased by the rate of 221% as compared to the 2023 tournament.
• Group stage match win: Each group stage team will earn prize money of $31,154, increased by the rate of 78% as compared to the previous year.

Thus, all participating teams are guaranteed to be awarded $112,500 in the upcoming tournament next month. People are already filled with excitement for the event, making it a hit from the beginning.