There’s money to be made at Melbourne Park as the world’s best tennis players compete for a slice of the $53 million Australian Open prize purse.
A new grand slam season is upon us and it’s all getting going down under.
The 2023 Australian Open kicks off on Jan. 16 with a field of 256 of the best players from around the world. The tourney promises big action and big paydays for players who perform their way through the winner’s bracket.
While some of the top names in men’s and women’s tennis — men’s No.1 Carlos Alcaraz and two-time Aussie Open champ Naomi Osaka to name two — won’t be in attendance, there’s still plenty of star power being served up in the form of fan favorites like Rafael Nadal and Novak Djokovic in the men’s draw, and Iga Swiatek and Coco Gauff in the women’s draw.
But in addition to the competitors, this year’s tournament boasts plenty of improvements — not only in the form of prize money but also in the perks players can expect while competing in the “Happy Slam.”
Let’s first have a look at just how much Australian Open prize money is up for grabs in this year’s tournament.
Get on our list for weekly sports business, industry trends, interviews, and more.
Australian Open Prize Money: Total Prize Pool
It’s all bigger in Australia this year.
With a total prize pool of $52.9 million, a 3.4% increase over last year, the tourney promises better paydays at every stage, including for qualifiers.
“At the Australian Open we’ve upped prize money for every round from qualifying, through to the finals, with the major increases in the early rounds, where these substantial rewards help players invest in their own careers and in many cases, set themselves up for success throughout the year,” said Australian Open Tournament Director Craig Tiley.
The ultimate prize is, of course, the most lucrative, coming in at $2.1 million for both the men’s and women’s champions. Runners-up will earn $1.1 million, and semi-finalists can earn $639,360, which is a 3.4% increase over last year.
Let’s have a look at the expected prize money by round for the singles competition.
Australian Open Prize Money by Round (Singles)
| Result | Prize Money (U.S dollar) |
| Champion | $2.1 million |
| Runner-up | $1.1 million |
| Semifinal | $639,360 (+3.4%) |
| Quarterfinal | $383,788 |
| Round 4 | $233,798 |
| Round 3 | $157,541 |
| Round 2 | $109,797 (+3.1%) |
| Round 1 | $73,440 (+3.2%) |
In Doubles, the champions will take home $480,769 in both the men’s and women’s draws, while the mixed doubles title means $109,124.
The latest prize money figures represent seismic increases in the ways tennis players are being paid to compete in the first Grand Slam of the season. Australian Open prize money has increased 321%, or $40.34 million, since 2003 when the total purse was $12.58 million.
And lastly, you can’t forget about the hardware. In addition to the largest prize of the tourney, the champions will also receive the prestigious Australian Open trophies — the Norman Brooks Challenge Cup for the men’s champion, and the Daphne Akhurst Memorial Cup for the women.
Get on our list for weekly sports business, industry trends, interviews, and more.
Who Are the Favorites to Win the Australian Open?
It’s going to be a very different and difficult Australian Open this year.
Alcaraz is out on the men’s draw, but Djokovic is back in the mix after missing last year due to issues with his visa and vaccination status. As the odds-on favorite (-130) to win the men’s draw, the nine-time champion could make a run at Melbourne Park and end up winning his 22nd Grand Slam title.
And do not discount Daniil Medvedev (+700) or Nadal (+1100). As the reigning men’s champion, Rafa is the all-time leader in Grand Slams, two of which came in Australia.
In the women’s draw, defending champion Ashleigh Barty won’t be in the mix this year, which means Swiatek (+200) is at the top of the list of favorites, followed by world No. 5 Aryna Sabalenka (+850) and No. 3 Jessica Pegula (+950). And of course, Coco Gauff (+1200) is in the conversation as well.
Here’s what FanDuel Sportsbook has in terms of futures odds:
2023 Australian Open Odds
Numbers reflect futures odds to win the Australian Open at FanDuel Sportsbook as of Jan. 11, 2023.
Men’s Singles Outright Betting Odds
Novak Djokovic -130
Daniil Medvedev +700
Rafael Nadal +1100
Stefanos Tsitsipas +1400
Nick Kyrgios +1700
Felix Auger Aliassime +2100
Jannik Sinner +2400
Holger Rune +2500
Casper Ruud +3000
Taylor Fritz +3000
Women’s Singles Outright Betting Odds
Iga Swiatek +200
Aryna Sabalenka +850
Jessica Pegula +950
Coco Gauff +1200
Caroline Garcia +1200
Ons Jabeur +1400
Barbora Krejcikova +2000
Elena Rybakina +2100
Belinda Bencic +2700
Veronika Kudermetova +3200
Maria Sakkari +3400
A “Happy Slam” with Plenty of Player Perks
Organizers of this year’s tournament have also announced a bevy of additions to this year’s event — most notably new benefits, services, spaces, and experiences for the players.
Some of the perks offered at the 2023 Australian Open include:
- Player Recharge Zone with a performance-focused nutrition bar and mindfulness activities
- Enhanced Player Performance Spaces including three gyms, additional preparation/recovery space with ambient temperature, a new player stretch area, and an outdoor stretch area
- Six themed restaurants/cafes spread across two floors of the dedicated Player Pod — Gourmet Italian, Japanese, Asian Stir Fry, Super Green Salad and Grill, and a Deli/Sandwich Bar, along with the fab coffee Melbourne is renowned for
- Foot Fault is a Grand Slam first — a brand new player foot care service with specialists offering private consultations, treatment for foot problems and education on ongoing foot care throughout the tournament
- Specialist Medical Clinics for players pre-tournament, including podiatrist, dermatologist, shoulder and tendon specialists, and recovery specialists
- Additional Player Quiet Rooms
- Five free restrings per round
- Match analysis data available for all players
- Player Gifting experience with a focus on sustainability
- Player Beauty Bar, hairdressing, beautician services, nail bar, etc
- Player Barber
- Childcare and Parent Room
Read More:
- Microsoft Gambles Big With $1.5B Investment in Foreign AI Firm
- The Jordan Luka 3: A Design Driven by Dončić
- Andre Ward is Still Writing His Story
- Chet Holmgren Has Been Studying the Sneaker Game for Years
- Learning on the Fly: How Chet Holmgren is Spreading His Wings in OKC
Get on our list for weekly sports business, industry trends, interviews, and more.
