The Millionaire Chess Open is one of the most prestigious and lucrative chess tournaments in the world. With a massive total prize pool of $1,000,000, this event rewards players across all sections and divisions. Here’s a detailed look at the prize structure for the 2016 tournament:
OPEN Section Prizes
The Open section features a prize pool of $429,000, with awards down to the 20th place. Special prizes are also available for different rating ranges within the Open section.
- 1st place: $100,000
- 2nd place: $50,000
- 3rd place: $25,000
- 4th place: $16,000
- 5th place: $10,000
- 6th place: $8,000
- 7th to 10th places: $5,000 each
- 11th to 20th places: $3,500 each
Additionally, there are special prizes for players rated between 2400-2549 and for players rated under 2400:
- Top 2400-2549:
- 1st place: $40,000
- 2nd place: $20,000
- 3rd place: $13,000
- 4th place: $8,000
- 5th place: $5,000
- Top Under 2400:
- 1st place: $38,000
- 2nd place: $19,000
- 3rd place: $11,000
- 4th place: $7,000
- 5th place: $4,000
U2200, U2000, and U1800 Sections Prizes
Each of these sections will have its own set of awards for the top finishers:
- U2200 Section:
- 1st place: $38,000
- 2nd place: $19,000
- 3rd place: $10,000
- 4th place: $8,000
- 5th place: $6,000
- U2000 Section:
- 1st place: $36,000
- 2nd place: $18,000
- 3rd place: $9,000
- 4th place: $7,000
- 5th place: $5,000
- U1800 Section:
- 1st place: $34,000
- 2nd place: $17,000
- 3rd place: $8,500
- 4th place: $6,500
- 5th place: $5,000
U1600 Section Prizes
The U1600 section, which includes players rated below 1600, will have three separate divisions (U1400, U1200, and general U1600). The top finishers in each division will play in the Semifinals and Finals on Millionaire Monday.
- U1600 Section:
- 1st place: $30,000
- 2nd place: $16,000
- 3rd place: $8,000
- 4th place: $6,000
- 5th place: $4,000
- Top Under 1400:
- 1st place: $24,000
- 2nd place: $12,000
- 3rd place: $6,000
- 4th place: $4,000
- Top Under 1200:
- 1st place: $20,000
- 2nd place: $10,000
- 3rd place: $6,000
- 4th place: $4,000
Unrated and Provisional Players
For players who are unrated or provisionally rated, a separate competition exists with the following prizes:
- 1st place: $3,000
- 2nd place: $2,000
- 3rd place: $1,000
Special Prizes
The Millionaire Chess Open also offers a range of special prizes:
- Biggest upset prize: $1,000
- Tie Break Consolation Prize: $6,000
- Mixed Doubles: $2,000 for the top male-female team
- Best dress (Male, Female, Child under 18): $100 per day for 4 days
- Top Female Prize (Open, U2200, U2000, U1800, U1600): $500 – $1,000
- Top Senior Prize (65+): $500 – $1,000
- Best Child under 13 (Open, U2200, U2000, U1800, U1600): $500 – $1,000
Mixed Doubles Prize
A new addition to the Millionaire Chess Open, the Mixed Doubles Prize rewards a male-female team with a $2,000 prize for the best combined score. Teams may come from any section, as long as their average rating is under 2200. Teams must be registered and meet specific eligibility criteria, including signing up and submitting their details to the tournament organizers.