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Top T20 Cricket Leagues With Highest Prize Money [2023 Update]

T20 cricket has witnessed a remarkable rise in popularity over the years, becoming a lucrative source of income for many players and a major entertainment platform for fans worldwide. While Test cricket has faced the risk of fading away, the 20-overs format has shown unparalleled resilience and growth.

Top T20 Cricket Leagues With Highest Prize Money

Numerous cricket-playing nations have established their own star-studded T20 leagues, with enormous financial investments.

In some cases, players even prioritize participation in these global T20 leagues over their international commitments.

The cricket boards ensure that outstanding performers receive their well-deserved rewards for their exceptional performances.

The prize money for the winners varies across different T20 competitions, making each league unique in its approach to rewarding success.

Here are the top 10 T20 Cricket leagues in the world based on prize money.

RankLeaguePrize Money (INR)
1Indian Premier League (IPL)₹20 Crore
2SA20 League₹15 Crore
3Caribbean Premier League (CPL)₹8.14 Crore
4Women’s Premier League (WPL)₹6 Crore
5ILT20 League₹5.7 Crore
6Big Bash League (BBL)₹3.66 Crore
7Pakistan Super League (PSL)₹3.40 Crore
8The Hundred (Men’s & Women’s)₹1.3 Crore
9Bangladesh Premier League₹1.53 Crore
10Major League Cricket₹4.1 Crore (estimated)

1. Indian Premier League (IPL) – 20 crores

The Indian Premier League (IPL) stands out as the largest and most extravagant cricket league globally, boasting a staggering total prize pool of Rs. 46.5 crores.

The IPL’s immense popularity and financial prowess, fueled by the BCCI’s backing and growing valuation, attract top cricketing talents from all corners of the world.

As a result, it offers the highest prize money among T20 leagues, making it the richest in the world.

The exorbitant auction price of 18.50 Crore Rupees for Sam Curran, acquired by Punjab Kings, further exemplifies the league’s unparalleled status in the cricketing world.

The winner of the IPL 2023 season will be rewarded with an impressive sum of INR 20 crores, showcasing the extravagant spending culture prevalent in T20 cricket.

Chennai Super Kings and Mumbai Indians (MI) have emerged as the most successful teams in the championship, with their eyes set on securing their sixth title in the upcoming IPL season scheduled for 2024.

2. SA20 League – 15 crores

After facing several challenges and setbacks, Cricket South Africa finally launched their T20 franchise cricket tournament, SA20. Prior to SA20, CSA had previously attempted to establish T20 Global League and Mzansi Super League, which unfortunately did not achieve the desired success.

SA20 was officially established by CSA in 2022, under the newly formed entity, Africa Cricket Development (Pty) Limited (ACD).

The tournament boasts a significant financial investment, with a total amount of R70 million in South African Rand, which is equivalent to $3.8 million in United States Dollars or approximately 33.5 crores INR.

The Winner of SA20 League will get a huge amount of $2m USD which is equal to 35 million South African Rand. Whereas, the runner-up will get half of the winners prize i.e $1m USD or 17.5 million Rand.

3. Caribbean Premier League (CPL) – 8 crores

The Caribbean Premier League (CPL) is an eagerly anticipated annual Twenty20 cricket tournament held in the enchanting Caribbean region. The upcoming 2023 CPL will mark its 11th thrilling season, captivating cricket enthusiasts from all around the world.

Introduced in 2013, the CPL replaced the Caribbean Twenty20 and swiftly became the premier Twenty20 competition in the Caribbean islands.

Six dynamic teams participate in the league, and cricket fans can look forward to a total of 34 exhilarating matches during the tournament.

CPL T20 League is widely regarded as the fifth most popular short-form cricket competition, following the IPL, BBL, Ram Slam, and PSL.

In terms of prize money, the Caribbean Premier League boasts a total prize pool of approximately 2.16 million.

The victorious team will be rewarded with an impressive $1 million, while the runner-up, who fought valiantly in the final match, will receive a substantial cheque of $660,000.

It is important to note that the prize money details mentioned above remain the same as the previous edition, but there is a possibility of alterations based on the prevailing circumstances.

4. Women’s Premier League – 6 crores

The Women’s Premier League (WPL) made a grand entrance with its inaugural edition, culminating in a thrilling and nail-biting final clash between Mumbai Indians and Delhi Capitals.

History was made as Mumbai Indians clinched the prestigious title, becoming the first-ever champions of India’s premier women’s T20 competition.

Under the captaincy of Harmanpreet Kaur, the team saw a seven-wicket victory over the Meg Lanning-led Delhi Capitals in a throbbing final showdown at Brabourne Stadium in Mumbai.

The Mumbai Indians marked their name in the history of women’s cricket as they lifted the maiden WPL 2023 trophy. Their sensational performance throughout the tournament culminated in a memorable triumph, filling fans and cricket enthusiasts with pride.

The glory of victory comes with rich rewards, as the winners of the WPL 2023 final will be bestowed with a cash prize of Rs. 6 crore, a fitting tribute to their exceptional skills and efforts.

Meanwhile, the runners-up, Delhi Capitals, will also receive a handsome reward of Rs. 3 crore for their commendable campaign in the tournament, displaying their prowess on the cricketing stage.

For the third-placed team, UP Warriorz, there will be a cash prize of Rs. 1 crore, acknowledging their spirited performance and determination in the competition.

5. ILT20 League – 5.7 crores

The International League T20 (ILT20), officially known as DP World ILT20 due to sponsorship reasons, is a thrilling T20 cricket tournament taking place in the United Arab Emirates, sanctioned by the Emirates Cricket Board.

Initially scheduled to happen in January and February 2022, the inaugural edition faced rescheduling, and finally, in January 2023, the action-packed tournament kicked off with six teams.

The league’s formal name, International League T20, was officially announced in June 2022, along with the confirmation of the dates for the much-awaited first season.

With a generous prize pool of USD 1.3 million, the stakes are high for the participating teams in DP World International League T20.

The victorious team will take home a rewarding sum of 5.77 Crores or $700,000 (USD), a fitting reward for their outstanding performances and efforts throughout the tournament.

Meanwhile, the runner-up team will also be rewarded for their stellar campaign, receiving a substantial prize of 2.85 Crores or $300,000 (USD) in recognition of their hard-fought journey to the final.

6. Pakistan Super League (PSL) – 3.4 crores

The Pakistan Super League (PSL) made its exciting debut in 2019, gracing the United Arab Emirates (UAE) with thrilling T20 cricket action.

However, as time progressed, the tournament made a triumphant return to its home soil, captivating fans in Pakistan with the sheer excitement of the event.

In the highly competitive PSL 2022, it was the Lahore Qalandars who emerged as the victorious team, securing a cash prize of PKR 80,000,000, equivalent to approximately Rs. 3.4 crore in Indian rupees.

On the other hand, the runners-up, Multan Sultans, were rewarded with a cash prize of PKR 32,000,000, which translates to around Rs. 1.37 crore in Indian rupees.

Despite facing challenges and disruptions due to the state of affairs in the country, cricket-loving fans were elated to witness the return of their beloved sport, filling the stadiums with enthusiasm and fervor.

Among the competing teams, Islamabad United and Lahore Qalandars marked their names in PSL history as the most successful team, securing the title in 2016/2018 and 2022/2023 editions respectively, showcasing their dominance in the tournament.

7. Big Bash League (BBL) – 2.7 crores

The Big Bash League (BBL), Australia’s premier professional cricket league, has earned a well-deserved reputation as one of the most popular T20 tournaments worldwide.

The recently concluded 2022-23 season showcased eight teams representing cities across Australia, engaging in an intense battle over 59 matches.

Ultimately, it was the Perth Scorchers who emerged victorious, clinching the coveted title for a record fifth time.

The victorious team of the 2022-23 BBL season will be rewarded with a grand prize of $500,000 Australian Dollars, a substantial amount that amounts to approximately INR 2.74 Crore in the Indian currency.

For the runners-up, the consolation prize is equally substantial, with each team receiving $250,000 Australian Dollars, equivalent to approximately INR 1.35 crore.

8. Bangladesh Premier League (BPL) – 1.53 crores

The Bangladesh Cricket Board (BCB) has made an exciting announcement regarding the prize money for this year’s edition of the Bangladesh Premier League (BPL).

With a remarkable increase in the rewards, the winner of the tournament will be presented with a staggering BDT 2,00,00,000, which translates to an impressive INR 1.5 Crore.

For the runner-up team, the reward is equally significant, as they will be awarded a sum of 1,00,00,000 BDT, equivalent to INR 75 Lakhs.

Additionally, the BCB has introduced rewards in various other categories, encouraging players to showcase their talents and excel in their respective roles.

The highest wicket-taker, highest run-getter, and the player of the match in the final will each receive a commendable prize of BDT 5,00,000.

9. The Hundred (Men’s & Women’s) – ₹1.3 Crore

The Hundred, a thrilling franchise 100-ball cricket tournament, has become a prominent sporting event in England and Wales, captivating cricket enthusiasts across the nation.

The tournament features eight men’s and eight women’s teams, strategically located in major cities, competing in exhilarating matches.

With a strong commitment to promoting gender equality in sports, the England and Wales Cricket Board has ensured that both the men’s and women’s competitions share an equal total prize pool of £600,000.

In terms of prize distribution, the winning teams of both the men’s and women’s categories will be rewarded with a substantial amount of £150,000 each, celebrating their exceptional performances and triumphs in the competition.

The runners-up in each category will receive an impressive prize of £75,000, acknowledging their commendable efforts and hard-fought battles throughout the tournament.

Considering the current exchange rate of 1 euro to 90.50 Indian rupees, the total prize pool of £600,000 would be approximately equal to INR 54,30,000.

10. Major League Cricket –

The MLC 2023 final was an electrifying cricketing spectacle at the Grand Prairie Stadium in Dallas. Nicholas Pooran, the stand-in captain of MI New York, delivered a breathtaking performance, smashing a remarkable century in just 40 balls against the Seattle Orcas.

Pooran’s brilliant display of skill and power impressed the crowd as he dominated the opposition’s bowling attack. His century led MI New York to a resounding victory in the prestigious final.

The prize money added grandeur to the occasion. MI New York, the winner, earned a handsome reward of $505,000 USDT for their exceptional performance throughout the tournament.

Whereas, the runner-up team, Seattle Orcas, will be awarded with a prize of $252,500 USD for their commendable performance in MLC 2023.

(The exact figures are subject to official validation.)

About the author

Bhanu Partap

Bhanu Pratap is a sports blogger who specializes in cricket and football. With a strong passion for both sports, he shares insightful analyses and opinions through his blog. His well-researched content provides a unique perspective on matches, player performances, and trends in these sports. Bhanu's engaging writing contributes to the sports community by sparking discussions and keeping readers informed and entertained.

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