The International Cricket Council on Monday announced a 20 percent increase in prize money for next year's World Cup in Australia and New Zealand. (Full Coverage of ICC World Cup 2015)
The winners will take home $4.3 million - but if a team remains unbeaten that would rise to more than $4.6 million.
A total of $11.5 million, an increase of approximately 20 per cent over the World Cup 2011, will be available, according to the ICC.
The 2011 edition jointly hosted by India, Bangladesh and Sri Lanka had prizemoney of $9.2 million.
The team which loses the March 29 final at Melbourne will pocket $2 million while the two losing semi-finalists will each get $692,000.
The four losing quarter-finalists will receive $346,000 each while the winners of each group match will get $52,000, the ICC said.
All six teams eliminated from the first stage will get $40,000 apiece.
The decision was taken at a two-day ICC Board meeting in Dubai. Playing conditions were also finalised for the World Cup which will be held from February 14 to March 29.
The ICC also announced that the Decision Review System (DRS) would be used in all 49 matches and that there would only be reserve days in the knock-out phase.
It also added that there would be no super over in tied matches in the knock-out phase.
In case of a tied quarter-final and semi-final, the side finishing in the higher position in the group stage would progress.
If the final is tied or if the match is a no-result, then the teams will be declared joint winners.
The ICC Board approved cut-off dates for qualification to the 2017 Champions Trophy and the 2019 World Cup.
The top eight sides on the ICC one-day rankings on 30 September 2015 will qualify for the 2017 Champions Trophy in England.
The cut-off date for the 10-team 2019 World Cup, also in England, was set for 30 September 2017.
The top eight ranked sides on that date will automatically qualify for the World Cup, while the ninth and 10th ranked teams will play in the World Cup qualifying competition in Bangladesh in 2018.