The runner-up will receive at least US$1.28 million while the losing semi-finalist will receive US$787,500. The four teams that failed to make it out of the Super 8 will each receive US$382,500, while the ninth, 10th, 11th and 12th-placed teams will receive US$247,500 respectively.

The participants ranked 13th to 20th will receive US$225,000. Each team receives an additional 31,154 USD for winning each match except the semi-finals and finals. “This event is historic in many ways, so it is only fitting that the prize money for the players reflects this. ICC CEO Geoff Allardyce said, we are looking forward to a unique event in which the players will entertain millions of fans around the world.

The 55 matches between 20 teams will be played over 28 days across nine venues in the West Indies and the United States, making it the largest ICC Men's T20 World Cup to date. For the first round, 20 teams will be divided into four groups of five each.

The top two teams from each group will qualify for the Super 8 stage, where the teams will be divided into two groups of four each. The first and second seeded teams from their group in the first round will retain that seeding in the Super 8, provided they qualify. A1, B2, C1 and D2 finishers will be in one group, while A2, B1, C2 and D1 will be placed in another group.

The top two teams from both the groups of Super 8 will reach the semi-finals. The semi-finals will be held in Guyana and Trinidad and Tobago on June 26 and 27 respectively, while the final will be held in Barbados on June 29.