The 2024 World Snooker Championship is underway in Sheffield and there is a lot of money up for grabs.

Ronnie O'Sullivan is looking to lift the trophy at the Crucible for a record eighth time.

A few of the other favourites have crashed out, including last year's winner Luca Brecel and multiple world champion Mark Selby.

However, there are still some top players remaining and looking to claim the title.

And by the end of the marathon 17-day tournament, one man will walk away significantly richer.

World Snooker Championship 2024: Prize money

The total prize pot for this year's standout snooker event is £2.395million.

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This is split between the 112 initial qualifiers and steadily increases as each player progresses.

The winner takes home £500,000, while the runner-up gets £200,000.

The other two semi-finalists also grab £100,000 each.

How much do you get for the highest break?

In addition to the total prize pot, there is also extra money available for the highest break.

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Of course, 147 is the highest possible in snooker.

However, they are rare, so any break in the high 130s or 140s stands a chance.

Now, it does get a bit complicated because there are multiple different amounts of prize money available.

For the highest break at the tournament, including the qualifying stage, there is a total of £15,000 up for grabs.

This would be shared if multiple players achieve the same score.

If a player hits a maximum [147] in the tournament, they get another £40,000. If it happens in qualifying, the player earns £10,000.

The only player to hit a 147 this year is Noppon Saengkham, who achieved that feat in qualifying before crashing out.

Interestingly, there is a further incentive to make a 147.

If a player makes two across the Triple Crown events [Masters, UK Championship and World Snooker Championship], they will grab a whopping £147,000.

However, with Ding Junhui out, Allen is the only remaining player who can earn this extra money this season.

World Snooker Championship 2024: Dates and how to follow

The 2024 edition of the World Snooker Championship got underway on Saturday, April 20 and will end on Monday, May 6.

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The whole tournament is held at the iconic Crucible Theatre, Sheffield.

The BBC are showing all of the action across their network, with games on BBC One, Two, the iPlayer and on the website.