The richest prize purse in the history of tennis is set to get even bigger with the announcement that prize money at the 2018 US Open will reach a record $53 million.

Each singles champion will receive $3.8 million, the largest payout in US Open history and a $100,000 increase from last year.

Similar to the past three years, the USTA is improving the payouts for the first three rounds of the tournament to drive more of the increases to the majority of the players.

“2018 is a significant year in our history,” said USTA Chairman of the Board and President Katrina Adams. “Not only is it the 50th anniversary of the tournament, we also have completed the five-year transformation of the USTA Billie Jean King National Tennis Center. We know that we are poised for incredible growth moving forward.”

Prize money at the US Open has increased by 57 percent since 2013. The US Open was the first tournament to offer equal prize money to men and women competitors in 1973.

The total $53 million purse for the 2018 US Open is more than a 5 percent increase on the $50.4 million offered in 2017.

In the men’s and women’s singles tournaments this year, players will earn $54,000 for playing in the main draw, $93,000 for reaching the second round and $156,000 for advancing to the Round of 32. They will take home $266,000 for reaching the fourth round, $475,000 for contesting the quarterfinals and $925,000 for making the semifinals. Reaching the final is worth $1,850,000, an increase of $25,000 over last year.

Both the men’s and women’s doubles champion teams will earn $700,000, the highest in US Open history.

First- and second-round losing teams will earn $16,500 and $27,875, respectively. Teams reaching the Round of 16 will receive $46,500, quarterfinalists will win $85,275 and semifinal teams will take home $166,400. Finalists will collect $350,000.

In addition, the US Open Qualifying Tournament will offer more than $3 million in prize money for the first time.

Round-by-round individual prize money for the US Open is as follows:

Singles:

Winner: $3,800,000
Runner-Up: $1,850,000
Semifinalist: $925,000
Quarterfinalist: $475,000
Round of 16: $266,000
Round of 32: $156,000
Round of 64: $93,000
Round of 128: $54,000

Doubles (each team):

Winner: $700,000
Runner-Up: $350,000
Semifinalist: $166,400
Quarterfinalist: $85,275
Round of 16: $46,500
Round of 32: $27,875
Round of 64: $16,500

The US Open is scheduled for Aug. 27 through Sept. 9, with the US Open Qualifying Tournament beginning on Aug. 21.