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The winner of the upcoming ODI World Cup will receive a prize purse of US$4 million (approximately Rs 33 crore) while the runners-up will get richer by US$2 million (approximately 16 crore), the International Cricket Council (ICC) said on Friday.
The ICC announced the prize money and incentives for all 48 matches to be played in the showpiece starting next month.
The two losing semi-finalists will get US$800,000 (Rs 6 crore approximately) each.
The other six teams who fail to qualify for the knockouts will get US$100,000 (Rs 82 lakh approximately) each, and the winner of each group stage match will get an incentive of US$40000 (Rs 33 lakh approximately).
A total of US$10 million will be distributed by the ICC among all winning teams throughout the tournament.
The apex body has taken this decision in a bid to make the tournament more competitive and entertaining, both for the players and the fans.
The World Cup will be held in India from October 5 to November 19. It will comprise 45 league matches and three knockout matches.
This will be the 13th edition of the men's ODI World Cup, and 10 teams (India, Afghanistan, Australia, Bangladesh, England, New Zealand, Pakistan, South Africa, Sri Lanka, and Netherlands) will feature in the tournament.