JOIN USA total of $1.15 million was offered in the last two editions played in 2004 and 2006, the International Cricket Council (ICC) said in a statement on Monday.
The premier one-day event, second in importance after the World Cup, was moved to South Africa after security concerns forced the 2008 edition to be shifted out of Pakistan and postponed.
The tournament will be a re-modelled short event of 15 matches in only 14 days in September and October at two venues -- Centurion Park and The Wanderers.
The new format and the increased prize pool are just two of a series of innovations to be announced in the coming weeks.
Australia, England, India, New Zealand, Pakistan, South Africa, Sri Lanka and the West Indies have been divided into two pools of four, with the top two from each pool progressing to the semifinals.
The tournament begins on September 22.
Groupings: Pool A: Australia, India, Pakistan, West Indies.
Pool B: South Africa, New Zealand, Sri Lanka, England.
Schedule: Sept 22: South Africa vs Sri Lanka (Centurion, d/n). Sept 23: Pakistan vs West Indies (Wanderers, d/n). Sept 24: South Africa vs New Zealand (Centurion). Sept 25: Sri Lanka vs England (Wanderers, d/n). Sept 26: West Indies vs Australia (Wanderers); India vs Pakistan (Centurion). Sept 27: New Zealand vs Sri Lanka (Wanderers); South Africa vs England (Centurion, d/n). Sept 28: Australia vs India (Centurion, d/n). Sept 29: England vs New Zealand (Wanderers, d/n). Sept 30: India vs West Indies (Wanderers, d/n); Australia vs Pakistan (Centurion).
Semifinals: Oct 2: A1 vs B2 (Centurion, d/n). Oct 3: B1 vs A2 (Wanderers, d/n). Final: Oct 5.