The total jackpot is lower than other tournaments due to just 16 competitors taking part in the prestigious event, but each will be in line for a healthy slice if they advance through the rounds.
Judd Trump won last year's final 10-8 following a thrilling contest with Mark Williams at Ally Pally.
The pair will return with high hopes of reaching the showpiece match once more.
World champion Luca Brecel, UK Championship winner Ronnie O'Sullivan and the in-form Zhang Anda are also part of the 16-man line-up.
RadioTimes.com brings you all the details about The Masters 2024 prize money pot.
The Masters 2024 prize money
The Masters will offer a healthy prize total, with a greater guarantee of picking up big money due to the limited field in action.
The prize money for each round closely tracks the UK Championship pot from last month, but with just 16 entrants taking part, players are guaranteed to walk away with a cool £15,000 at a minimum.
Here is the full lowdown on prize money during the tournament:
- Winner: £250,000
- Runner-up: £100,000
- Semi-final: £60,000
- Quarter-final: £30,000
- Last 16: £15,000
- Highest break: £15,000
- TOTAL: £725,000
When is The Masters 2024 final?
The Masters 2024 final will take place from 1pm on Sunday 14th January 2024.
How to watch The Masters 2024 on TV and live stream
Coverage of The Masters will be extensively shown across BBC and Eurosport platforms, including discovery+.
The action will be shown from 1pm and 7pm each day. Check out The Masters 2024 schedule for full details of channels and timings.
The tournament will be shown live online via discovery+ and iPlayer, if you want to keep up with the tournament across a range of devices.
You can sign up for discovery+ Standard, which features full access to snooker coverage on the platform, or you can sign up for a discovery+ Premium monthly pass or discovery+ via Amazon Prime Video, which each include full TNT Sports coverage including Premier League and Champions League football.
discovery+ is the new streaming home of TNT Sports, showing events including live Premier League, UEFA Champions League, Premiership Rugby, UFC, Boxing and MotoGP. Learn more here: discoveryplus.com.
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