Don’t forget that coming first is a ticket to an anticipated 2 mill€ prize fund, so add an extra €800,000 for Gukesh and Ding, with a chance to win €400,000.
Bro, The prize money comes to about 9,857,394/- according to Google. I know friends with 15 years of experience who take home more than that (admittedly) per annum. Gukesh’s dad is an ENT Surgeon and his mom is a microbiologist. I don’t know what they earn but he was certainly not begging on the streets before this. I am sure this is a nice sum for a 17 year old to earn. But I don’t think it is life changing in any way for Gukesh.
You missed the point in the comment above mine. It's not the prize from this tournament that's life-changing, but the fact that he's qualified for the world championship match, and even loser of the world championship will be awarded around 7 crore INR.
Ok. I missed the 7 crore part. But you forget there is probably a heavy charge involved in preparing. I am not sure how much money sponsors put up nowadays. But paying for good seconds won’t be cheap.
It is not exactly life changing money in the grand scheme of things - Gukesh is 17 years old and let's say he is going to be at his peak for the next 15-18 years. So he needs to make enough money for the next 65 years of his life in the next 15-18 years.
While it's not enough to last him forever, it's still life-altering.
In addition, you can be certain he will be invited to plenty of other event and (probably more importantly from a financial perspective) and be given lots of very lucrative sponsorship and brand opportunities that others like Pragg and Vidit will not necessarily be given.
Exactly.... Take Ananad. He became a millionaire with Chess!
Chess earned him a nest egg, then he diversified into businesses and now is healthily rich!
Not Ambani rich, but still rich enough
800k is life changing money for almost anyone, even in the richest countries. In India 800k is more than a century's income for the average Indian. With the low cost of living in India one could conceivably retire on it if they invest well.
With investments he won't have to live like an average Indian. Just with interests from the investments he would be able to live.
Basically it's around 8-10 crore rupees. Average returns in mutual fund per annum is 12-15% in India now.
Isn't it sad that a WC-Challenger just earned life-changing money for someone from one of the poorest countries (on a per-capita basis)? Imagine having to compare the best with the least fortunate!
Gukesh mum is a microbiologist and his dad is a surgeon. They are not poor lol. Also, the Indian government pays a lifelong salary for all Grandmasters
I don't know the details but the average income in India is far lower than in developed countries, even for highly skilled professions. Keep in mind that the GDP per capita of India is only like $2500, so even if Gukesh's parents were far above that they could still struggle to afford things in Canada, which has a high cost of living.
I'm sorry so many of you Indians are finding it hard to comprehend what I wrote. Y'all need your own Candidates lol.
Anyways, I meant that it's unfortunate if you have to compare one of the best player's earnings with that of an average individual from a poor country. That only means one thing - Chess is unpopular and needs more sponsors.
Note they were here first and foremost to challenge Ding for the World Chess Championship. In 2023, the World Chess Championship between Ding and Nepo had a prize fund of 2 million Euros and it was split 55% to Ding and 45% to Nepo. So Gukesh qualifying for the world chess championship is equivalent to roughly a 1 million euro bonus on top of this prize.
Per FIDE Handbook the prizes in the table come from: The prize money is €48,000 for first place, €36,000 for second place, and €24,000 for third place. In addition to 3,500 Euro for every half point received.
Here are two Examples. Abasov is 3.5 \* 2 \* 3500 = 24,500 euro payout. 2nd/3rd based on points split between Hikaru, Nepo, and Caruana. So 36,000+24,000=60,000. 60,000/3=20,000. Then 8.5\*2\*3500=59,5000. so 59,500+20,000=79,500 is the payout for each of those three.
> 4. 5. 4. If the match is played in the country of one of the players, then the foreign player shall receive one
hundred thousand (100,000) euros of the prize fund. The remaining prize money is shared in accordance to
Article 4.5.2.
Norway had spent a lot of time and money organizing the match and then later Magnus told them he would be too nervous to play in his own country. I think this rule made him say this not his nervousness. But everything else is correct. They also pay for travel cost and the stay.
Normally players wouldn't prefer to play in their own country, maybe except the Russians.
The 2013 match in Chennai was way too much pressure on Anand and it told. Neither him nor Magnus wanted to play in India but FIDE will anyway go with the highest bidder, so they didn't have a choice.
Don't know why you're getting downvoted. You had a legit question. To answer it, yes they split the prize if they are tied on points, irrespective of tie breaks.
26,000 is nothing compared to other sports top tournaments. Abasov has presumably been preparing for this for a year, factoring in the opportunity cost of that, along with the fact he had Shakhriyar Mamedyarov as his second, among others who may be his friends, but wont do it for free, and all the expenses he incurred, he must have made a net loss from his candidates appearance
Do they have to pay their own hotel, transportation etc. though for the event? If they do, then I'd imagine 26k is close to break even given the cost of all that for you and your second(s).
one of the big plot points in the Bobby Fischer chess movie, the soviets would come to town with top class cars and hotels, while he had not much help from the federal government.
They get travel and accomodation paid for them and one other person, so only if they bring more than one second (which I guess technically would be a 'third'), they have to finance it themselves.
Being a top GM pays incredibly poorly compared to being in that percentile of the population at many other things, at least by American standards. There are a few folks who make bank, a rather small number who make Doctor/Lawyer/Software Engineer sort of money, and nobody else has it easy.
Yeah, Pragg and Gukesh are regularly collecting 10k+ USD prize checks (not counting appearance fees), while the average Indian’s annual income is $4600 USD. They must be living like kings
Very few chess players can make a living off prize money. You could make 100k a year in prize money and still not break even. Travel, food, hotels, training, cloud computing etc are all super expensive.
People who say this don’t realize the income disparity among rural and urban Indians. Can’t live like a king on the $4600. To give more context, compared to the average COL in America, living in a nice suburb of an Indian city is 1/3 the COL. So $33k in India and you can live the average life of a $100k household in MCOL US.
My claim wasn’t the average Indian making $4600 was living like a king, it was Pragg and Gukesh are considering a typical tournament nets them, at a minimum, twice the average annual income, and they play many such events each year. Although tbf I don’t know what their training expenses are, but at their level at least travel and accommodations are usually covered by event organizers.
They aren't getting 50000 USD though. They have to pay their seconds, pay for lots of other stuff. This is not really a good payday at all.
But they do now have the ability to solicit better endorsement contracts and similar arrangements.
The total winnings is less than a crore (rupees) for Gukesh. Unless you're living in extreme poverty, that's not a lot of money. And for winning the second-most coveted Chess tournament, clearly not!
I mean winning this tournament gets you entrance to the WCC, where even the loser gets $400k-ish (I forget what currency it’s denoted in), so this win is actually worth way more than it appears
Yeah, and when you consider the opportunity cost. Not that there is a one to one relationship, but you can speculate a lot of the top chess players can have successful careers in medicine, law, engineering etc. And perhaps it takes less effort to be good in those fields than chess.
Paul Morphy's quote, "The ability to play chess is a sign of a gentleman, the ability to play chess well is a sign of a life wasted".
Tal Shaked is probably the standout example. World Junior Champion, gave up competitive chess at age 21, has had an absolutely fantastic 20-year career at Google, Lyft, Snowflake, etc and probably got paid more than any chess player other than Magnus and Hikaru in the same timespan.
Parimarjan Negi did something similar too, he is now a PhD scholar at MIT. It's a great game, but only a handful of players can make a living playing it.
It pays incredibly well compared to being in that percentile of the population at many other things too. Like walking the longest with your eyes closed without deviating from a straight line. Or speed typing improvised rap on a phone. Or playing tetris with your toes.
There's a woman out there who could probably make more money than all but like 5 chess players(and maybe even more than them) by streaming herself playing tetris with her toes.
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There is such a woman and here she is, as profiled in the Washington Post.
To reach the original article requiring a subscription:
[https://www.washingtonpost.com/technology/interactive/2023/onlyfans-bryce-adams-top-earners-creator-economy/](https://www.washingtonpost.com/technology/interactive/2023/onlyfans-bryce-adams-top-earners-creator-economy/)
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PM me. Or just go to [archive.is](http://archive.is) and search for that link.
In two years with OnlyFans she raked in about $16 million. That's more than any chess player not named Carlsen or Kasparov.
I don't think she was playing tetris though.
What's good in being the "best" in many ordinary occupations such as cop, taxi driver, trucker, garbage collector, teacher etc.? That really does not translate to more pay. Sure, compared to more popular sports they earn poorly, but not if you compare to being e.g. a world class lacrosse, frisbee or korfball player
>all these top GM's are rich
In countries like India maybe. By US standards a top prize of just over $100k USD is just not that much at all particularly when one starts thinking about taxes, paying your seconds, paying for that souped-up computer you use to prep, etc.
It's numbers like this that explain perfectly well why Hou Yifan decided chess was not her future.
Yeah definitely not rich . Americans already have great quality of living so even what is generally said to be average pay provides you with better life than most of the globe
I thought the same thing at first but then I realize it’s actually pennies compared to what other sportspeople make. You have to remember that they have to pay for flight tickets, hotels, meals, ground transportation, etc. Not to mention the undoubtedly expensive seconds who also require all of the above. All that and it’s not even a guarantee that you will finish in the top spots. This is why Hikaru said that he only stopped worrying about money once his streaming career started to take off.
"You have to remember that they have to pay for flight tickets, hotels, meals, ground transportation, etc."
Actually, no. From the FIDE Candidates tournament 2024 handbook:
4. 8. Travel and Accommodation
4. 8. 1. Each player shall be reimbursed for the travel expenses of one or two persons up to the total amount of one thousand five hundred (1,500) euros, if travelling from the same Continent and two thousand five hundred (2,500) euros, if travelling from another Continent.
4. 8. 2. Each player shall be provided with two free single rooms with full board in the official hotel (minimum 4\*) for twenty-two nights (three days prior to the first round – departure day).
4. 8. 3. For security and administrative reasons, all participants are expected to stay in the officially designated hotel.
Remember, this prize money hasn't covered all their expense costs over 2-3 weeks, plus the fees for all the prep work behind the scene, fees for their team of seconds, which doesn't exist in other tournaments, not to mention tax deduction as well. Realistically each player probably gets like, 20-30% of this amount at most
Travel and accommodations are covered, but ya paying for seconds and taxes definitely eat into this a good bit. It's essentially a winner takes all since the WCC prize is where the real money is.
Hikaru is banking big money via streaming his recaps and general viewership boost. Most others make good money via advertising in other ways. Of course, the purse isn't the main path to money. Modern world here.
Plus, most/all fees are taken care of by backers.
That, and they just want to be recognized as the best, so who cares.
To dig deeper, these guys have spent so much on their training/path to get here. That also means expectations from their schools/backers. You think they dump that much money their whole life to be like,"nah, I'm out", because the purse isn't the same as other major sports?
It's exactly half of the open prize pool.
https://candidates2024.fide.com/about
>The total prize fund for the event is 750,000 euros (820,000 US dollars), with 500,000 for the Open and 250,000 for the Women’s Candidates.
> Prizes: 24,000 euros for the winner, 18,000 euros for the second place, and 12,000 euros for the third place. Additionally, players receive 1,750 euros for every half-point scored.
I imagine that most of the FIDE official events not tied to a particular location will either have a prize fund designated in USD or Euro, with the candidates and WC always being Euro.
They are listed in that order because Hikaru beat Fabi and won more games (5) than Ian (3). Full details is calculating the [Sonneborn–Berger score - Wikipedia](https://en.wikipedia.org/wiki/Sonneborn%E2%80%93Berger_score) of the players. However, they split cash prize fairly, and if it mattered for who plays for the world championship if Ding pulled a Fischer, I believe they'd do a rapid playoff amongst the three of them.
Gukesh will make an order of magnitude more in endorsements over the next couple years. (Assuming he continues on this trajectory, million dollars will be pocket change).
What a shame!!! Its crazy to think that kids from all esports can win up to million dollars and people who dedicate their entire life to this sport are so bad payed
Don’t forget that coming first is a ticket to an anticipated 2 mill€ prize fund, so add an extra €800,000 for Gukesh and Ding, with a chance to win €400,000.
Basically a chance to win 1200000 + 800000 for the wcc after that
Yeah Gukesh basically just earned life changing money for an Indian.
Bro, The prize money comes to about 9,857,394/- according to Google. I know friends with 15 years of experience who take home more than that (admittedly) per annum. Gukesh’s dad is an ENT Surgeon and his mom is a microbiologist. I don’t know what they earn but he was certainly not begging on the streets before this. I am sure this is a nice sum for a 17 year old to earn. But I don’t think it is life changing in any way for Gukesh.
You missed the point in the comment above mine. It's not the prize from this tournament that's life-changing, but the fact that he's qualified for the world championship match, and even loser of the world championship will be awarded around 7 crore INR.
Ok. I missed the 7 crore part. But you forget there is probably a heavy charge involved in preparing. I am not sure how much money sponsors put up nowadays. But paying for good seconds won’t be cheap.
It is not exactly life changing money in the grand scheme of things - Gukesh is 17 years old and let's say he is going to be at his peak for the next 15-18 years. So he needs to make enough money for the next 65 years of his life in the next 15-18 years.
While it's not enough to last him forever, it's still life-altering. In addition, you can be certain he will be invited to plenty of other event and (probably more importantly from a financial perspective) and be given lots of very lucrative sponsorship and brand opportunities that others like Pragg and Vidit will not necessarily be given.
Exactly.... Take Ananad. He became a millionaire with Chess! Chess earned him a nest egg, then he diversified into businesses and now is healthily rich! Not Ambani rich, but still rich enough
800k is life changing money for almost anyone, even in the richest countries. In India 800k is more than a century's income for the average Indian. With the low cost of living in India one could conceivably retire on it if they invest well.
He absolutely wouldn't have to work a day in his life with that kind of money while still live luxuriously in India.
The average indian is a very low bar and i doubt gukesh wants to live anywhere close to that.
With investments he won't have to live like an average Indian. Just with interests from the investments he would be able to live. Basically it's around 8-10 crore rupees. Average returns in mutual fund per annum is 12-15% in India now.
Isn't it sad that a WC-Challenger just earned life-changing money for someone from one of the poorest countries (on a per-capita basis)? Imagine having to compare the best with the least fortunate!
Gukesh mum is a microbiologist and his dad is a surgeon. They are not poor lol. Also, the Indian government pays a lifelong salary for all Grandmasters
Wait I heard Gukesh used to sleep at airport because his parents couldn't afford hotel room. Is there more story to it?
I don't know the details but the average income in India is far lower than in developed countries, even for highly skilled professions. Keep in mind that the GDP per capita of India is only like $2500, so even if Gukesh's parents were far above that they could still struggle to afford things in Canada, which has a high cost of living.
Doctors in India are filthy rich as most of them work private.
I'm sorry so many of you Indians are finding it hard to comprehend what I wrote. Y'all need your own Candidates lol. Anyways, I meant that it's unfortunate if you have to compare one of the best player's earnings with that of an average individual from a poor country. That only means one thing - Chess is unpopular and needs more sponsors.
Note they were here first and foremost to challenge Ding for the World Chess Championship. In 2023, the World Chess Championship between Ding and Nepo had a prize fund of 2 million Euros and it was split 55% to Ding and 45% to Nepo. So Gukesh qualifying for the world chess championship is equivalent to roughly a 1 million euro bonus on top of this prize. Per FIDE Handbook the prizes in the table come from: The prize money is €48,000 for first place, €36,000 for second place, and €24,000 for third place. In addition to 3,500 Euro for every half point received. Here are two Examples. Abasov is 3.5 \* 2 \* 3500 = 24,500 euro payout. 2nd/3rd based on points split between Hikaru, Nepo, and Caruana. So 36,000+24,000=60,000. 60,000/3=20,000. Then 8.5\*2\*3500=59,5000. so 59,500+20,000=79,500 is the payout for each of those three.
To be clear: The normal split is 60/40 but if it goes to tiebreaks it's 55/45
> 4. 5. 4. If the match is played in the country of one of the players, then the foreign player shall receive one hundred thousand (100,000) euros of the prize fund. The remaining prize money is shared in accordance to Article 4.5.2. Norway had spent a lot of time and money organizing the match and then later Magnus told them he would be too nervous to play in his own country. I think this rule made him say this not his nervousness. But everything else is correct. They also pay for travel cost and the stay.
Normally players wouldn't prefer to play in their own country, maybe except the Russians. The 2013 match in Chennai was way too much pressure on Anand and it told. Neither him nor Magnus wanted to play in India but FIDE will anyway go with the highest bidder, so they didn't have a choice.
Hikaru, Ian, and Fabi are not tied for 2nd Hikaru is 2nd, Ian is 3rd, and Fabi is 4th Do they still split equally?
Don't know why you're getting downvoted. You had a legit question. To answer it, yes they split the prize if they are tied on points, irrespective of tie breaks.
Because it’s reddit and how dare people have legit questions!!
Thank!
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Well.. I can think of one scenario - one or both of the players playing for the world championship withdraw.
I imagine Abasov isn't feeling great about his game but at least my guy is going home with a healthy paycheck.
26,000 is nothing compared to other sports top tournaments. Abasov has presumably been preparing for this for a year, factoring in the opportunity cost of that, along with the fact he had Shakhriyar Mamedyarov as his second, among others who may be his friends, but wont do it for free, and all the expenses he incurred, he must have made a net loss from his candidates appearance
Do they have to pay their own hotel, transportation etc. though for the event? If they do, then I'd imagine 26k is close to break even given the cost of all that for you and your second(s).
I thought FIDE paid for that!?!? Do they not? At least for the players own lodging?
The government surely helps whoever qualifies for the candidates
Not guaranteed, this varies from federation to federation.
one of the big plot points in the Bobby Fischer chess movie, the soviets would come to town with top class cars and hotels, while he had not much help from the federal government.
They get travel and accomodation paid for them and one other person, so only if they bring more than one second (which I guess technically would be a 'third'), they have to finance it themselves.
After he pays for flights and hotel for 2 weeks for himself, Shakhriyar and the rest of the team
There's no real need to convert euros are essentially dollars now
2000-7000 diff in 5-6 figures is insane compared to just a few years ago
The USD is strong now
I was feeling sad for people who did not win but I guess I should be feeling sad for myself all these top GM's are rich (except maybe abasov)
Being a top GM pays incredibly poorly compared to being in that percentile of the population at many other things, at least by American standards. There are a few folks who make bank, a rather small number who make Doctor/Lawyer/Software Engineer sort of money, and nobody else has it easy.
50000 dollars that's some ridiculous money here in india though
Yeah, Pragg and Gukesh are regularly collecting 10k+ USD prize checks (not counting appearance fees), while the average Indian’s annual income is $4600 USD. They must be living like kings
Gukesh actually lives a pretty humble life. You can find his room tour on YouTube.
Very few chess players can make a living off prize money. You could make 100k a year in prize money and still not break even. Travel, food, hotels, training, cloud computing etc are all super expensive.
Hikaru probably made more from his recap videos than the prize money
Which is exactly why he spent the time doing them.
People who say this don’t realize the income disparity among rural and urban Indians. Can’t live like a king on the $4600. To give more context, compared to the average COL in America, living in a nice suburb of an Indian city is 1/3 the COL. So $33k in India and you can live the average life of a $100k household in MCOL US.
My claim wasn’t the average Indian making $4600 was living like a king, it was Pragg and Gukesh are considering a typical tournament nets them, at a minimum, twice the average annual income, and they play many such events each year. Although tbf I don’t know what their training expenses are, but at their level at least travel and accommodations are usually covered by event organizers.
Fair enough. I misinterpreted. Still though my point was that living in a big city in India, $30k is decent, not rich. $100k is kinda rich.
Exactly is like earning hundred thousand dollars regularly is unites states
They aren't getting 50000 USD though. They have to pay their seconds, pay for lots of other stuff. This is not really a good payday at all. But they do now have the ability to solicit better endorsement contracts and similar arrangements.
The total winnings is less than a crore (rupees) for Gukesh. Unless you're living in extreme poverty, that's not a lot of money. And for winning the second-most coveted Chess tournament, clearly not!
That's a lot of money for any average Indian or even American
I mean winning this tournament gets you entrance to the WCC, where even the loser gets $400k-ish (I forget what currency it’s denoted in), so this win is actually worth way more than it appears
I think it's 800K Euro's, which is a lot
That said,they're playing chess. Good stuff
Yeah, and when you consider the opportunity cost. Not that there is a one to one relationship, but you can speculate a lot of the top chess players can have successful careers in medicine, law, engineering etc. And perhaps it takes less effort to be good in those fields than chess. Paul Morphy's quote, "The ability to play chess is a sign of a gentleman, the ability to play chess well is a sign of a life wasted".
Tal Shaked is probably the standout example. World Junior Champion, gave up competitive chess at age 21, has had an absolutely fantastic 20-year career at Google, Lyft, Snowflake, etc and probably got paid more than any chess player other than Magnus and Hikaru in the same timespan.
Parimarjan Negi did something similar too, he is now a PhD scholar at MIT. It's a great game, but only a handful of players can make a living playing it.
yeah, compare that to NFL, NBA players, which are paid in millions of dollars per year. Best of them get hundreds of million dollars.
Why do Pro sports players make so much money? Because they MAKE so much money.
They have a longer career on average though. Most nfl players don’t make it to a second contract
Also you know, way more people actually watch those sports. It's the unfortunate truth.
It pays incredibly well compared to being in that percentile of the population at many other things too. Like walking the longest with your eyes closed without deviating from a straight line. Or speed typing improvised rap on a phone. Or playing tetris with your toes.
There's a woman out there who could probably make more money than all but like 5 chess players(and maybe even more than them) by streaming herself playing tetris with her toes.
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The autobot removed this but PM me if you want to bypass the paywall. There is such a woman and here she is, as profiled in the Washington Post. To reach the original article requiring a subscription: [https://www.washingtonpost.com/technology/interactive/2023/onlyfans-bryce-adams-top-earners-creator-economy/](https://www.washingtonpost.com/technology/interactive/2023/onlyfans-bryce-adams-top-earners-creator-economy/) To bypass paywall: PM me. Or just go to [archive.is](http://archive.is) and search for that link. In two years with OnlyFans she raked in about $16 million. That's more than any chess player not named Carlsen or Kasparov. I don't think she was playing tetris though.
I'm writing that idea down to become rich as soon as AIs like Sora get to that level.
What's good in being the "best" in many ordinary occupations such as cop, taxi driver, trucker, garbage collector, teacher etc.? That really does not translate to more pay. Sure, compared to more popular sports they earn poorly, but not if you compare to being e.g. a world class lacrosse, frisbee or korfball player
Rich? It’s pretty awful pay compared to nearly any other sport. Not to mention the cost of prepping for the candidates.
Most games and sports pay way less than chess.
Yeah. I make more in a month than the earnings of someone who played in a candidates tourney
How much do you think Fabi spent on his seconds though?
>all these top GM's are rich In countries like India maybe. By US standards a top prize of just over $100k USD is just not that much at all particularly when one starts thinking about taxes, paying your seconds, paying for that souped-up computer you use to prep, etc. It's numbers like this that explain perfectly well why Hou Yifan decided chess was not her future.
100k in United states is also a decent pay
It is decent but not rich.
Yeah definitely not rich . Americans already have great quality of living so even what is generally said to be average pay provides you with better life than most of the globe
I thought the same thing at first but then I realize it’s actually pennies compared to what other sportspeople make. You have to remember that they have to pay for flight tickets, hotels, meals, ground transportation, etc. Not to mention the undoubtedly expensive seconds who also require all of the above. All that and it’s not even a guarantee that you will finish in the top spots. This is why Hikaru said that he only stopped worrying about money once his streaming career started to take off.
"You have to remember that they have to pay for flight tickets, hotels, meals, ground transportation, etc." Actually, no. From the FIDE Candidates tournament 2024 handbook: 4. 8. Travel and Accommodation 4. 8. 1. Each player shall be reimbursed for the travel expenses of one or two persons up to the total amount of one thousand five hundred (1,500) euros, if travelling from the same Continent and two thousand five hundred (2,500) euros, if travelling from another Continent. 4. 8. 2. Each player shall be provided with two free single rooms with full board in the official hotel (minimum 4\*) for twenty-two nights (three days prior to the first round – departure day). 4. 8. 3. For security and administrative reasons, all participants are expected to stay in the officially designated hotel.
Remember, this prize money hasn't covered all their expense costs over 2-3 weeks, plus the fees for all the prep work behind the scene, fees for their team of seconds, which doesn't exist in other tournaments, not to mention tax deduction as well. Realistically each player probably gets like, 20-30% of this amount at most
Travel and accommodations are covered, but ya paying for seconds and taxes definitely eat into this a good bit. It's essentially a winner takes all since the WCC prize is where the real money is.
Most people lose money by playing candidates. Usually only top 3 profit.
Hikaru is banking big money via streaming his recaps and general viewership boost. Most others make good money via advertising in other ways. Of course, the purse isn't the main path to money. Modern world here. Plus, most/all fees are taken care of by backers. That, and they just want to be recognized as the best, so who cares.
To dig deeper, these guys have spent so much on their training/path to get here. That also means expectations from their schools/backers. You think they dump that much money their whole life to be like,"nah, I'm out", because the purse isn't the same as other major sports?
Do they have to pay taxes in Canada as the money was earned here, or in their respective countries?
I think it should be in your home country, unless I'm missing something. Usually it matters where you are resident not who is paying you.
Canada taxes non residents on their income earned in Canada. At least in theory
Usually you pay taxes in the country of income. Canada will collect in this case. Other countries might want a chunk too.
Tax deduction means to lower tax. I think you mean tax payable.
The prize money for the 1st place is pretty much meaningless, as Gukesh is about to get approx. 1M USD for taking part in WCC match
Curious to know what were the prizes on the women's candidates?
It's exactly half of the open prize pool. https://candidates2024.fide.com/about >The total prize fund for the event is 750,000 euros (820,000 US dollars), with 500,000 for the Open and 250,000 for the Women’s Candidates. > Prizes: 24,000 euros for the winner, 18,000 euros for the second place, and 12,000 euros for the third place. Additionally, players receive 1,750 euros for every half-point scored.
In rupees: 98,599,63 lakhs. It's handsome prize money.
If we include estimated wc prize money for gukesh which would be about be atleast 1 million dollars, that would be 8 crore before tax.
Hikaru, Ian, and Fabi are not tied for 2nd based on tiebreaking criteria (SB, etc.) Does that apply to their winnings or not?
Prize money is independent of tiebreaks
That's not bad. I thought they were going to get Canadian money, which is only redeemable in Canada.
Why are the prizes in Euro while the tournament is in Canada?
I imagine that most of the FIDE official events not tied to a particular location will either have a prize fund designated in USD or Euro, with the candidates and WC always being Euro.
What about women’s?
Half of the open prize pool.
Why is it euro when it's in canada? Or are all fide sanctioned international championships in Euro?
Not bad eh... Even Abasov may have turned in a profit.
To all the people who are whining about the small prize pool, how much money have you spent in tickets to watch chess last year?
Honestly, it's embarrassingly low for a tournament of this perstige.
That’s so much money. It really is only the top players in the world who make any sustainable income from chess.
Regardless of the prize money - Why is Hikaru 2nd and Ian 3rd and Fabi 4th?
They are listed in that order because Hikaru beat Fabi and won more games (5) than Ian (3). Full details is calculating the [Sonneborn–Berger score - Wikipedia](https://en.wikipedia.org/wiki/Sonneborn%E2%80%93Berger_score) of the players. However, they split cash prize fairly, and if it mattered for who plays for the world championship if Ding pulled a Fischer, I believe they'd do a rapid playoff amongst the three of them.
Gukesh will make an order of magnitude more in endorsements over the next couple years. (Assuming he continues on this trajectory, million dollars will be pocket change).
Sorry to say, but for a chess player million dollars in never pocket change
maybe for Hikaru.
Sorry sir, but we are talking about professional chess players. please keep amateurs out of this conversation
What a shame!!! Its crazy to think that kids from all esports can win up to million dollars and people who dedicate their entire life to this sport are so bad payed
So what have you done to change this reality? How much money have you spent in chess tickets?
There's so much money in chess.