Prize Money in Sports: An Interesting Game of Economics and Fan Power

SportsTak

When it comes to sports, there are two major things that every fan desires to see. One, their team/individual lifting the winning trophy. Second, the prize money that is offered to the victorious team or individual. The combination of glory and economics is what makes sport one of the best spectacles. One can argue that the prize money that is offered is directly proportional to the popularity that the game enjoys. 

 

When it comes to football and cricket, the popularity that it enjoys with the fans all over the globe is unprecedented. The dynamics change slightly when it comes to Olympic sports and other individual events like badminton. In the case of Olympic glory, since athletes bring pride to the nation, there is additional benefits in the form of government prize money. 

When one does primary research of the prize money each sport has to offer, it throws up an interesting feature. For example: The Football World Cup is the pinnacle when it comes to the sport. The prize money that is on offer is huge. When it comes to individual sports, the prize money has different dimensions. In cricket, one has to look at formats and gender in order to understand the prize money that is offered.

 

Here is a look at the prize money of all major sports and events:

 

Cricket

ODI World Cup Prize (In INR)

Men - 4.8 Million

Women - 1.32 Million

 

WORLD T20 Prize (In USD) 

Men 1.6 Million

Women 600,000

 

 

Football

World Cup 42 Million USD

 

 

Hockey

Event Prize (In USD)

Olympics 100,000 Approx

 

 

Shooting

Event Prize (In INR) 

Olympics 75 lakhs Approx from Sports Ministry

 

 

Badminton

Event Prize (In USD 

World Tour Finals 1,500,000

Olympics Rs 75 lakhs Approx from Sports Ministry

 

 

Athletics

Event Prize (In INR)

Olympics Rs 75 lakhs Approx from Sports Ministry

 

FIDE World Chess Championship 

Event Prize (In USD)

Men's - 2.1 Million

Women's - 50,000