NEW DELHI: Women's cricket got a big boost as the International Cricket Council broke the bank for the upcoming ODI World Cup, announcing a massive hike in prize money for the tournament in India and Sri Lanka starting September 30.

"The overall prize money at the eight-team marquee tournament totals $13.88 million (US Dollars) - a monumental rise of 297 percent from $3.5 million at the last edition held in New Zealand in 2022," ICC stated in a media release.

The total prize pool for the upcoming tournament surpasses that of the ICC Men's Cricket World Cup held two years ago in India, which had a purse of $10 million.

This move is in line with the ICC's long-term strategy to accelerate the growth of women's cricket, following its earlier decision to introduce pay parity ahead of the Women's T20 World Cup 2024.

Winners of the 13th edition of the Women's Cricket World Cup will now take home $4.48 million - a staggering 239% jump from the $1.32 million that Australia pocketed in 2022.

Meanwhile, the runners-up will receive $2.24 million, an increase of 273 per cent in comparison to the $600,000 England won three years ago. The two losing semi-finalists will take home $1.12 million (up from $300,000 in 2022) each.

Each group stage participant is guaranteed to earn $250,000 while each group-stage win will get the victors $34,314. In the second half of the final table, the teams finishing fifth and sixth will take home $700,000 each and those in seventh and eighth place will earn $280,000.

"This announcement marks a defining milestone in the journey of women's cricket," ICC Chairman Jay Shah said.

"This four-fold increase in prize money is a landmark moment for women's cricket and reflects our clear commitment to its long-term growth.

"Our message is simple, women cricketers must know they will be treated on par with men if they choose this sport professionally.

"The uplift underscores our ambition to deliver a world-class ICC Women's Cricket World Cup and to inspire the next generation of players and fans.

"Women's cricket is on a remarkable upward trajectory, and with this step we are confident the momentum will accelerate.

"We call upon all stakeholders, fans, media, partners, and Member Boards, to join us in championing the women's game and ensuring it receives the recognition and respect it deserves."