The Australian Open has increased prize money to a historic high of Australian Dollars 50 million (USD 36.2 million) for the 2017 tennis tournament, up by 14 percent in 2016.
Men and women singles winners will each get A$ 3.7m while a first round loser will receive A$ 50,000.
Australian Open tournament director CEO Craig Tiley said the organisers wanted to ensure players were compensated at both ends of the spectrum.
"We are committed to further improving the pay and conditions on the international tennis tour to ensure every professional tennis player is properly compensated," Tiley said in a release on Australian Open official Twitter account.
"In 2017, prize money for all three qualifying rounds has increased an impressive 39 percent, with $ 25,000 for players losing in the final round.
"First round prize money is up 30 percent, there's a 19 percent increase in the second round, and losers in the third round will be 20 better off, taking home $ 130, 000," he added.
Australian Open prize money has more than tripled since 2001, when it was A$ 13.9m, with a A$ 10m increase since 2014.
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