The Alexandra Palace in London will host the 31st edition of the World Darts Championship, which as usual will get under way just before Christmas again this year.
With the first round scheduled to start on Friday December 15th, fans of the sport will be keenly awaiting the return of the star-studded event that sees the best darts players in the world do battle.
The final will take place on Wednesday January 3rd as Michael Smith looks to defend his crown from last year. But how much will the winner earn this time around?
In this article, The Sporting News brings you everything that you need to know about the prize money pot for the upcoming 2023/24 World Darts Championship
MORE: When is World Darts Championship 2023/24? Schedule, full draw, qualifying process, odds
How much does the World Darts Championship 2023/24 winner earn?
Champion - £500,000
The winner of this season's 2023/24 World Darts Championship will receive a hefty prize for their victory.
Organisers of the Professional Darts Corporation have again allocated a prize of £500,000 to the winner of the event – the same amount as last year.
On that occasion, it was Michael Smith who proved to be the best of the field, as he won his first world title after finishing as runner-up in both 2019 and 2022.
World Darts Championship 2023/24 prize money
As well as the £500,000 for the winner of the event, the 2023/24 World Darts Championship also has a sizeable prize money pot in total.
At this year's event, the runner up of the tournament will claim £200,000 for their troubles, with the two losing semi-finalists taking home a cheque worth £100,000.
There's also decent amounts of money on offer for each player who takes par tin the championship as seen below.
Full prize pot at the 2023/24 World Darts Championship
| Stage | Prize money |
| Winner | £500,000 |
| Finalist | £200,000 |
| Semifinalist | £100,000 |
| Quarterfinalist | £50,000 |
| Round Four | £35,000 |
| Round Three | £25,000 |
| Round Two | £15,000 |
| Round One | £7,500 |
World Darts Championship betting odds
Here's how the pre-tournament betting look with bookmakers, with the usual suspects – as well as rising star Luke Humphries – among the favourites:
| DraftKings | |
| Luke Humphries | +380 |
| Gerwyn Price | +450 |
| Michael van Gerwen | +450 |
| Michael Smith | +800 |
| Gary Anderson | +1100 |
| Rob Cross | +1400 |
| Nathan Aspinall | +2500 |