Tennis Prize Money Tracker 2024: Which Player Earned the Most?

By | April 2, 2024

With $3.98 million in tournament winnings, Jannik Sinner is the current leader in tennis prize money won through April 1 this year. The 22-year-old Italian took home around $2.1 million when he won his first career major title at the Australian Open in January. He followed up that breakthrough by winning Rotterdam in February and Miami in March, earning an additional $430,000 and $1.1 million respectively.

Aryna Sabalenka, the other singles winner in Melbourne, is in third place after three months with $2.40 million in prize money this year. The current women’s world number 2 received the same payout as Sinner for her win down under, but she has been unable to increase that total significantly, losing before the quarter-finals in both Indian Wells and Miami.

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Among WTA players, Sabalenka is supplanted by Iga Swiatek, who has won two tournaments this year, bringing her total winnings to $2.57 million.

As the clay season gets underway, women occupy five of the top 10 spots in the 2024 prize money rankings. This can generally be attributed to the fact that Indian Wells and Miami were the first two ATP Masters 1000 events of the year, while the women have already played four WTA Masters 1000 events, including Dubai and Qatar. (Masters events provide the most prize money, with the exception of the Grand Slams and tour finals.)

The next big opportunity for men’s players to make money is the Monte Carlo Masters starting April 8. The next lucrative event for the women is the Madrid Open at the end of the month, where an equal purse of around $8.4 million was available for men. and women last year.

How does prize money work in tennis?

When tennis players participate in tournaments, they are compensated based on the round in which they lose, with the payouts increasing somewhat exponentially as the player continues to win. A loser in the first round of Indian Wells in 2024 will receive $30,050, while the tournament runner-up will win $585,000 and the champion $1.1 million.

Singles draws generally pay out more money than doubles draws, but singles players also increase their earnings by participating in doubles at events that offer both formats.

The money at stake in different tournaments varies greatly. There are events at 250, 500 and 1000 levels throughout the year; the number refers to the number of ranking points winners receive. Tournaments with more points at stake generally pay out more money.

Which tennis tournament has the highest prize money?

The four majors – the Australian Open, French Open, Wimbledon and US Open – award 2,000 ranking points. They also have larger wallets.

For example, the 2023 US Open awarded $3 million to each singles winner, while the 2023 Winston-Salem Open, an ATP 250 event, handed out $104,000 to the champion the week before. Many professionals also compete on the Challenger Tour, where players typically take home the lowest five figures when they win an event.

Although the ATP Finals and WTA Finals attract much less public attention than the majors at the end of the calendar, they are extremely lucrative. In fact, the $4.41 million Novak Djokovic earned for winning the 2023 ATP Finals is almost more than he earned for winning the 2023 Australian Open ($2 million) and the French Open ($2.5 million) of 2023 together.

Do men earn more than women in tennis?

Last year, 15 women and 21 men earned at least $2 million. The four majors have all paid both genders equally since 2007, but many major events where men and women play at the same time still pay men much more. For example, the 2023 Cincinnati Open paid out approximately $6.6 million to male players and only $2.8 million to female players, while the prize money differences at lower-level tournaments are even greater.

In 2022, Iga Swiatek was so dominant on the court that she almost became the first woman to become the highest-paid tennis player in a single season since 2003, when Kim Clijsters ($4.47 million) surpassed Roger Federer ($4 million). However, by 2023, the gender pay gap at the top of the sport was the widest in decades. The top 10 male players earned a combined $84.6 million in 2023, 62% more than the $52.1 million earned by the top 10 female players.

In the global professional sports landscape, tennis still offers the most earning potential for women, as seven of the ten highest-paid female athletes played tennis in 2023. Many tournaments have committed to offering equal pay in the near future, but much work remains to be done to close the gap overall.

Male tennis stars also benefit significantly from ATP bonus pools, which share extra winnings with the game’s best players. Bonus payouts are based on year-end ranking and participation in a certain number of 1,000-tier tournaments, but last year the pool rose to $21.3 million, where it remains for 2024.

Which tennis player has the most prize money?

For both genders, tennis is financially dominated by the elites. Last year, Djokovic earned almost four times that of the 11th highest-paid man, Taylor Fritz, and there was a similar ratio between Swiatek’s earnings and that of the 11th-highest-paid woman, Petra Kvitova.

The ATP Finals and WTA Finals grossed more than $14 million and $9 million respectively last year. These tournaments involve only the top eight players in the rankings, contributing to the top-heavy prize money distribution in tennis. They are essentially ‘rich gets richer’ events to end the season.

Djokovic’s victory in the 2023 ATP Finals gave him the fifth-most prize money ever in a season, with inflation giving him a boost over his own dominant 2011 and 2012 campaigns. He now has five of the ten best prize money seasons all-time and started the season with a $46 million lead over Rafael Nadal, giving him the most wins of his career.

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