The International Cricket Council has announced a 20 percent increase in prize money for next year's World Cup in Australia and New Zealand.
The total purse will be $12.8 million, the winners will take home up to $5.1 million if they go through unbeaten, and the beaten finalists will get $2.25 million.
The royal couple inspect the 2015 Cricket World Cup trophy. Photo: RNZ / Diego Opatowski
The losing semi-finalists will each receive 700,000.
The 2011 edition jointly hosted by India, Bangladesh and Sri Lanka had prize money of around $10 million.
The team which loses the March 29th final at Melbourne will pocket almost $2 million while the two losing semi-finalists will each get about $800,000 each.
All six teams eliminated from the first stage will get just over $40,000 each.
The decision was taken at a two-day ICC Board meeting in Dubai while playing conditions were also finalised for the tenth edition of the World Cup, from February 14th to March 29th.
The ICC also announced that the Decision Review System (DRS) will be used in all 49 matches and that there would only be reserve days in the knock-out phase.
It also added that there will be no super over in tied matches in the knock-out phase.
In case of a tied quarter-final and semi-final, the side finishing in the higher position in the group stage would progress.
If the final is tied or if the match is a no-result, then the teams will be declared joint winners.
The ICC Board approved cut-off dates for qualification to the 2017 Champions Trophy and the 2019 World Cup.
The top eight sides on the ICC one-day rankings on 30 September 2015 will qualify for the 2017 Champions Trophy in England.
The cut-off date for the 10-team 2019 World Cup, also in England, was set for 30 September 2017.
The top eight ranked sides on that date will automatically qualify for the World Cup, while the ninth and 10th ranked teams will play in the World Cup qualifying competition in Bangladesh in 2018.