The sport’s commercial arm has announced that overall prize money on the World Snooker Tour has increased to £14,431,000 for the 2019/20 season.
World Snooker also revealed that this figure could climb to £16,431,000 if two potential £1 million bonuses are triggered.
The new season will feature 19 ranking events plus six invitation events, while the circuit will visit 11 different territories across the globe.
Prize money for the Betfred World Championship has jumped to its highest ever level of £2,395,000.
The top prize of £500,000 remains the same, but the levels in the earlier rounds have been increased.
The fund for the Betway UK Championship has hit seven figures for the first time – rising to £1,009,000 – with the champion banking £200,000.
The Dafabet Masters total prize money is up to £725,000, with the winner to receive £250,000.
This means that there are now five tournaments on the calendar with a top prize of at least £200,000.
Each of the Home Nations events sees an increase from £366,000 to £405,000.
High break prizes across the season on the World Snooker Tour have also gone up, totalling £156,000.
And there is a guaranteed £100,000 bonus for the player winning the most money across the three Coral Series events.
In addition, there are two potential £1 million bonuses on offer on the World Snooker Tour.
Any player winning all four Home Nations events will earn that extra windfall and if there are 20 (or more) maximum breaks across the whole season, then the players making those 147s will share a further £1 million.
World Snooker Chairman Barry Hearn said: “Our sport continues to grow, our global audience has reached half a billion in over 120 countries.”
“We have had spectacular commercial success over the past decade, bearing in mind that ten years ago the sport had six ranking events and £3.5 million total prize money.
“Our success is reflected in the prize money increases we have made this season.
“The top players are earning more than ever – with Judd Trump becoming the first player to earn more than £1 million last season.
“But we are also increasing the rewards in the early rounds of tournaments, evident in the fact that 59 players have earned over £100,000 on the two-year money list.
“We are constantly exploring ways to continue our growth, to bring more snooker to the fans and greater rewards to the players.
“In the coming years we will see this fantastic sport continue to flourish.”
The 2019/20 campaign continues at the end of July with the first ranking event this term in Latvia with the Riga Masters.