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The highly-awaited T20 World Cup 2024 began on June 1 and will run till June 29 in the West Indies and the United States.

Organised by the International Cricket Council (ICC), the ninth edition of the T20 World Cup is being contested by a record 20 teams, an expansion from 16 teams in the previous edition in 2022.

As per the format, these participating teams have been divided into four groups of five teams each.

Group A has India, Pakistan, Ireland, Canada, and the United States, while Group B comprises the likes of Australia, England, Namibia, Oman, and Scotland.

On the other hand, Group C features Afghanistan, New Zealand, Papua New Guinea, Uganda, and West Indies, whereas Group D includes Bangladesh, Netherlands, Nepal, South Africa, and Sri Lanka.

The top two teams from each group will advance to the Super 8 stage.

The Super 8 round will be split into two groups of four teams each. The top two teams from each group will progress to the semi-finals.

The winners of the two semi-finals will clash in the T20 World Cup 2024 final on June 29 at the Kensington Oval in Barbados.

England are the defending champions of the T20 World Cup after defeating Pakistan by five wickets in the 2022 final at the Melbourne Cricket Ground (MCG) in Australia.

Meanwhile, the ICC has announced a record prize money for the ongoing T20 World Cup. Know the T20 World Cup 2024 prize money, and get the complete breakdown for winners, runners-up and other participants.

T20 World Cup 2024 prize money

The T20 World Cup 2024 prize money will be the highest-ever in the history of the tournament.

In a statement by the ICC, the T20 World Cup 2024 total prize money is a whopping  $11.25 million (INR 93.5 crore). The T20 World Cup prize money has doubled from $5.6 million in the previous edition in Australia in 2022.

The winner of the T20 World Cup 2024 will receive a cash prize of $2.45 million (INR 20.30 crore), while the runner-up will get at least $1.28 million (INR 10.64 crore).

Meanwhile, the two losing semi-finalists will get $787,500 (INR 6.54 crore) each from the total prize money.

The four teams that get knocked in the Super 8 stage will receive a cash prize of $382,500 (INR 3.17 crore) each, while the teams placed ninth, 10th, 11th and 12th will bag $247,500 (INR 2.05 crore) each.

On the other hand, teams ranked from 13th to 20th will get $225,000 (INR 1.87 crore).

Furthermore, each team will bag an additional $31,154 (INR 25.89 lakh) for each match they win barring the semifinals and final.

“This event is historic in so many ways so it is fitting that the prize money for players reflects that. Hundreds of millions of fans around the world will be entertained by the players in what we’re hoping to be an Out of This World event,” ICC Chief Executive Geoff Allardice said.

A total of 55 matches will be played across nine venues in the United States and the West Indies to determine the T20 World Cup 2024 winner.

Photo credit: Alamy

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