The other six teams who fail to qualify for the knockouts will get USD 100,000 (Rs 82 lakh approximately) each, and the winner of each group stage match will get an incentive of USD 40000 (Rs 33 lakh approximately).

Also Read: ODI World Cup 2023 squads: Team lists, injury updates, player replacements

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A total of 10 million USD will be distributed by the ICC among all winning teams throughout the tournament.

The apex body has taken this decision in a bid to make the tournament more competitive and entertaining, both for the players and the fans.

The World Cup will be held in India from October 5 to November 19. It will comprise 45 league matches and three knockout matches.

This will be the 13th edition of the men's ODI World Cup, and 10 teams (India, Afghanistan, Australia, Bangladesh, England, New Zealand, Pakistan, South Africa, Sri Lanka, and Netherlands) will feature in the tournament.

Also Read: Team balance at the forefront of BCCI's priorities

A look at ODI World Cup 2023 squads

India: Rohit Sharma (c), Shubman Gill, Virat Kohli, Shreyas Iyer, Ishan Kishan, KL Rahul, Hardik Pandya (Vice-captain), Suryakumar Yadav, Ravindra Jadeja, Axar Patel, Shardul Thakur, Jasprit Bumrah, Mohd. Shami, Mohd. Siraj, Kuldeep Yadav

Axar Patel has suffered minor hand and hamstring injuries and is in a race against time to be ready before the World Cup

Afghanistan: Hashmatullah Shahidi (c), Rahmanullah Gurbaz, Ibrahim Zadran, Riaz Hassan, Rahmat Shah, Najibullah Zadran, Mohammad Nabi, Ikram Alikhil, Azmatullah Omarzai, Rashid Khan, Mujeeb ur Rahman, Noor Ahmad, Fazalhaq Farooqi, Abdul Rahman, Naveen-ul-Haq

Reserves: Gulbadin Naib, Sharafuddin Ashraf, Farid Ahmad Malik.

Australia: Pat Cummins (c), Steve Smith, Alex Carey, Josh Inglis, Sean Abbott, Ashton Agar, Cameron Green, Josh Hazlewood, Travis Head, Mitch Marsh, Glenn Maxwell, Marcus Stoinis, David Warner, Adam Zampa, Mitchell Starc.

Travis Head has a fractured hand and might not be fit in time for the World Cup.

England: Jos Buttler (c), Moeen Ali, Gus Atkinson, Jonny Bairstow, Sam Curran, Liam Livingstone, Dawid Malan, Adil Rashid, Joe Root, Harry Brook, Ben Stokes, Reece Topley, David Willey, Mark Wood, Chris Woakes.

Reserve: Jofra Archer

Netherlands: Scott Edwards (c & wk), Max O’Dowd, Bas de Leede, Vikram Singh, Teja Nidamanuru, Paul van Meekeren, Colin Ackermann, Roelof van der Merwe, Logan van Beek, Aryan Dutt, Ryan Klein, Wesley Barresi, Saqib Zulfiqar, Shariz Ahmad, Sybrand Engelbrecht.

New Zealand: Kane Williamson (c), Tom Latham (vc & wk), Devon Conway (wk), Glenn Phillips (wk), Trent Boult, Tim Southee, Mitchell Santner, Jimmy Neesham, Daryl Mitchell, Will Young, Mark Chapman, Rachin Ravindra, Lockie Ferguson, Ish Sodhi, Matt Henry.

Tim Southee has suffered a fractured thumb and will undergo surgery. His participation at the World Cup is doubtful.

Pakistan: Babar Azam (c), Shadab Khan (vc), Muhammad Rizwan, Imam-ul-Haq, Abdullah Shafique, Saud Shakeel, Fakhar Zaman, Haris Rauf, Hasan Ali, Iftikhar Ahmed, Muhammad Nawaz, Muhammad Wasim Junior, Agha Salman, Shaheen Shah Afridi, Osama Mir

South Africa: Temba Bavuma (c), Gerald Coetzee, Quinton de Kock, Reeza Hendricks, Marco Jansen, Heinrich Klaasen, Andile Phehlukwayo, Keshav Maharaj, Aiden Markram, David Miller, Lungi Ngidi, Lizaad Williams, Kagiso Rabada, Tabraiz Shamsi, Rassie van der Dussen.

Anrich Nortje and Sisanda Magala have been ruled out and replaced by Lizaad Williams and Andile Phehlukwayo respectively.