How much will the winner of the PDC World Darts Championship earn, with the total prize fund a whopping £2.5million... everything you need to know as Michael Smith will be looking to retain his title

The world's best darts players will descend on Alexandra Palace this month and into the new year for the PDC World Darts Championship

The winner of the highly-anticipated tournament in London is set to earn a whopping payday. 

Michael Smith won his maiden World Darts Championship final at the third attempt with an exceptional showing to defeat Michael van Gerwen 7-4 at Ally Pally earlier this year.

It was a rematch of the 2019 final, which van Gerwen won 7-3. Smith had his chances to also take it 7-3, but let the tenth set slip to van Gerwen. However, he took the big opportunity in a blistering showcase to come from 2-0 down in the eleventh set to seal the trophy and the £500,000 prize money.

Mail Sport breaks down how much the winner of the PDC Darts World Championship will make. 

How much will the winner earn?

The total prize fund for the 2024 PDC World Darts Championship is £2.5million. 

This year's tournament will see the winner take home a whopping total of £500,000. 

While the runner-up will be devastated to lose the final, they will not come away empty handed.

Whoever finishes second in the tournament will take home just under a quarter of a million pounds. 

The full prize fund for the tournament is as follows:

• Winner: £500,000
• Runner-Up: £200,000
• Semi-Final: £100,000
• Quarter-Final: £50,000
• Fourth Round: £35,000
• Third Round: £25,000
• Second Round: £15,000
• First Round: £7,500

How to watch the action

All of the action will be shown live on Sky Sports Main Event and Arena. 

Darts fans will also be able to stream the matches via the official Sky Go app. 

Coverage begins on Friday, December 15 at 7pm, with with afternoon sessions at 12.30pm and evening sessions at 7pm taking place for the rest of the tournament up to the quarter-finals. 

The semi-finals are on Tuesday, January 2 from 7.30pm and the final is on Wednesday, January 3 at 7pm.

Full schedule 

Friday, December 15 (7pm)

• Round One: Kevin Doets v Stowe Buntz
• Round One: Cameron Menzies v Rusty-Jake Rodriguez
• Round One: Simon Whitlock v Paolo Nebrida
• Round Two: Michael Smith v Kevin Doets/Stowe Buntz

Saturday, December 16

Afternoon Session (12.30pm)

• Round One: Lee Evans v Sandro Eric Sosing
• Round One: Connor Scutt v Krzysztof Kciuk
• Round One: Jules van Dongen v Darren Penhall
• Round Two: Dave Chisnall v Cameron Menzies/Rusty-Jake Rodriguez

Evening Session (7pm)

• Round One: Jamie Hughes v David Cameron
• Round One: Keane Barry v Reynaldo Rivera
• Round One: Scott Williams v Haruki Muramatsu
• Round Two: Gary Anderson v Simon Whitlock/Paolo Nebrida

Sunday, December 17

Afternoon Session (12.30pm)

• Round One: Ricky Evans v Simon Adams
• Round One: Jim Williams v Norman Madhoo
• Round One: Matt Campbell v Lourence Ilagan
• Round Two: Joe Cullen v Jules van Dongen/Darren Penhall

Evening Session (7pm)

• Round One: Dylan Slevin v Florian Hempe
• Round One: Niels Zonneveld v Darren Webster
• Round One: Jermaine Wattimena v Fallon Sherrock
• Round Two: Luke Humphries v Lee Evans/Sandro Eric Sosing

Monday, December 18 (7pm)

• Round One: Mario Vandenbogaerde v Thibault Tricole
• Round One: Gian van Veen v Man Lok Leung
• Round One: Martin Lukeman v Haupai Puha
• Round Two: Gerwyn Price v Connor Scutt/Krzysztof Kciuk

Tuesday, December 19

Afternoon Session (12.30pm)

• Round One: Ian White v Tomoya Goto
• Round One: Ritchie Edhouse v Jeffrey de Graa
• Round One: Keegan Brown v Boris Krcmar
• Round Two: James Wade v Matt Campbell/Lourence Ilagan

Evening Session (7pm)

• Round One: Steve Beaton v Wessel Nijman
• Round One: Mike De Decker v Dragutin Horvat
• Round One: Ricardo Pietreczko v Mikuru Suzuki
• Round Two: Michael van Gerwen v Keane Barry/Reynaldo Rivera

Wednesday, December 20

Afternoon Session (12:30pm)

• Round One: Radek Szaganski v Marko Kantele
• Round One: Steve Lennon v Owen Bates
• Round One: William O'Connor v Bhav Patel
• Round Two: Ross Smith v Niels Zonneveld/Darren Webster

Evening Session (7pm)

• Round One: Ryan Joyce v Alex Spellman
• Round One: Richard Veenstra v Ben Robb
• Round One: Christian Kist v Luke Littler
• Round Two: Peter Wright v Jim Williams/Norman Madhoo

Thursday, December 21

Afternoon Session (12:30pm)

• Round One: Mickey Mansell v Xiaochen Zong
• Round One: Luke Woodhouse v Berry van Peer
• Round Two: Madars Razma v Mike De Decker/Dragutin Horvat
• Round Two: Rob Cross v Mario Vandenbogaerde/Thibault Tricole

Evening Session (1900 GMT)

• Round Two: Andrew Gilding v Christian Kist/Luke Littler
• Round Two: Danny Noppert v Scott Williams/Haruki Muramatsu
• Round Two: Gabriel Clemens v Gian van Veen/Man Lok Leung
• Round Two: Damon Heta v Martin Lukeman/Haupai Puha

Friday, December 22

Afternoon Session (12.30pm)

• Round Two: Brendan Dolan v Mickey Mansell/Xiaochen Zong
• Round Two: Jose de Sousa v Ritchie Edhouse/Jeffrey de Graaf
• Round Two: Krzysztof Ratajski v Jamie Hughes/David Cameron
• Round Two: Dirk van Duijvenbode v Keegan Brown/Boris Krcmar

Evening Session (7pm)

• Round Two: Dimitri Van den Bergh v Dylan Slevin/Florian Hempel
• Round Two: Martin Schindler v Jermaine Wattimena/Fallon Sherrock
• Round Two: Raymond van Barneveld v Radek Szaganski/Marko Kantele
• Round Two: Chris Dobey v William O'Connor/Bhav Patel

Saturday, December 23

Afternoon Session (12.30pm)

• Round Two: Kim Huybrechts v Richard Veenstra/Ben Robb
• Round Two: Callan Rydz v Ricardo Pietreczko/Mikuru Suzuki
• Round Two: Jonny Clayton v Steve Lennon/Owen Bates
• Round Two: Daryl Gurney v Steve Beaton/Wessel Nijman

Evening Session (7pm)

• Round Two: Ryan Searle v Ian White/Tomoya Goto
• Round Two: Josh Rock v Luke Woodhouse/Berry van Peer
• Round Two: Stephen Bunting v Ryan Joyce/Alex Spellman
• Round Two: Nathan Aspinall v Ricky Evans/Simon Adams

Third & Fourth Round

Wednesday, December 27

Afternoon Session (12.30pm)

• 3x Third Round

Evening Session (7pm)

• 3x Third Round

Thursday, December 28

Afternoon Session (12.30pm)

• 3x Third Round

Evening Session (7pm)

• 3x Third Round

Friday, December 29

Afternoon Session (12.30pm)

• 3x Third Round

Evening Session (7pm)

• 1x Third Round, 2x Fourth Round

Saturday, December 30

Afternoon Session (12.30pm)

• 3x Fourth Round

Evening Session (7:30pm)

• 3x Fourth Round

Quarter-Finals

Monday, January 1

Afternoon Session (12:30pm)

• 2x Quarter-Finals

Evening Session (7pm)

• 2x Quarter-Finals

Semi-Finals

Tuesday, January 2 (7:30pm)

Final 

Wednesday, January 3 (7pm)