When the battle for supremacy in this year's World Cup begins later on Tuesday in the Caribbean, the 16 participating nations will be playing for some high stakes.

A total of US$5 million in prize money will be up for grabs with the 2007 champions claiming almost half of that, with a winners' cheque of US$2.24 million to be awarded to the team which prevails in the final at Kensington Oval in Barbados on April 28.

The runners-up will also be rewarded handsomely, receiving a purse of US$1 million for their second-place finish. In addition, the losing semi-finalists will each pocket US$450,000 while the teams ending the tournament in fifth to eighth position -- determined by the outcome of the Super 8 phase of the event -- will win the following sums respectively: US$200,000; US$150,000; US$100,000 and US$50,000.

During the 24 Group Stage games, which starts today with the West Indies taking on Pakistan in Jamaica, the winners of each match will receive US$10,000 while the losers get US$5,000.

Meanwhile, all the Man-of-the-Match winners, as well as the prestigious Man-of-the-Tournament player, will be presented with exclusively-designed crystal ware.

The 2007 champions and runners-up teams will also receive gold and silver medallions respectively.