Formula 1 has been one of the most expensive sports in the world and this year’s F1 World Championship is no different, with more prize money split between the constructors and drivers than ever before.
Formula 1’s prize pool for 2023 is worth a jaw-dropping $2.2 bln, or $200 mln more than the total prize money of the UEFA Champions League, according to data presented by CasinosEnLigne.com.
Formula One teams earn hundreds of millions of dollars for finishing at the top, and this year there is more money in the game than ever.
According to Statista and The Sporting News data, F1’s total prize money for 2023 is worth a shocking $2.2 bln, more than in any other sport. 
The exact amount of money the best teams receive can vary greatly depending on their performance during the season, including the number of pole positions, fastest laps, and points scored by a team’s drivers.
Top constructor wins most
The team that finishes first in the Constructors’ Championship will earn the most prize money.
Statistics show that football’s UEFA Champions League has the second-highest prize pool, worth just over $2 bln. Far behind, UEFA’s Europa League ranked third, with $465 mln in total prize money, or $25 mln more than the 2022 FIFA World Cup.
LIV Gold and UEFA Conference League follow with $405 mln and $235 mln, respectively.
Statistics show that the star tennis tournaments of the French Open, Wimbledon and Australian Open have up to ten times smaller prize pools. The three competitions brought $53.5 mln, $49.5 mln, and $46.7 mln in prize money last year.
As one of the biggest motor racing championships in the world and one of the most publicised sporting events, along with the Olympic Games and the FIFA World Cup, FIA Formula One World Championship has seen impressive growth in total prize money over the years.
According to Statista and Liberty Media data, in 2016, F1 teams competed to win a part of a $966 mln prize pool.
After dropping to $919 mln and $913 mln in the next two years, F1’s total prize money increased to over $1 bln in 2019 and has continued growing ever since. In 2021, the total amount of money F1 drivers and constructors won jumped to $1.38 bln.
Statistic show F1’s total prize pool more than doubled in the past four years, jumping from around $1 bln in 2019 to $2.2 bln in 2023. 
