Saudi Arabia has announced a $60 million prize pool for its upcoming Esports World Cup to boost the global esports industry. This dwarfs the previous record of $45 million set by Gamer8 in 2023.

The eight-week extravaganza promises to attract the world’s top esports clubs and athletes. Twenty competitions will be held, and more titles could be added.

The hefty prize money reflects the Esports World Cup Foundation’s ambition to grow esports globally and create more sustainable careers for athletes and multi-disciplined clubs.

However, this ambitious gamble comes amidst a crucial challenge for Saudi Arabia’s esports sector — attracting foreign investment. Despite the National Gaming and Esports Strategy aiming for a $13 billion contribution to the GDP and 39,000 new jobs by 2030, the country has seen a significant decline in foreign investment.

This is compounded by reports of declining sponsorship opportunities, with esports giants like ESL FaceIt Group resorting to job cuts.

The Esports World Cup’s prize pool breakdown offers further insights. $20 million will be awarded to the top 16 clubs based on overall performance across multiple games (Club Championship), highlighting a focus on fostering well-rounded esports organizations.

The remaining prize pool will be divided among individual game championships (totaling over $33 million), MVP awards for outstanding players ($50,000 each), and qualification rewards exceeding $7 million.