Indianapolis is known for a lot of things. From the wailing guitar of Wes Montgomery to the rippling expanses of cornfields, it seems The Hoosier City has a little something for everyone.
Still, even among the numerous cultural touchstones that call Indianapolis home, one stands out above the rest: the Indy 500.
IndyCar's most famous competition regularly draws hundreds of thousands within the city's limits. All for a chance to witness the next generation of racers look to etch their name into Indianapolis Motor Speedway's cobbled brick road.
The victor of Nap Town's favorite sporting event isn't just rewarded with glory for their efforts. They also get a sizable cut of the race's spoils. All the more reason to put the pedal to the medal.
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So, how much will this year's winner make? The Sporting News fills you in on everything you need to know about this year's cash prize.
How much prize money does the Indy 500 winner get in 2023?
Prize money: $3 million (est.)
There's plenty to race for when the IndyCar Series travels to the Brickyard. Because the winner of the Indy 500 will walk home with a sizable payday.
The actual payout depends on a number of factors, including pole winner, laps led and certain sponsorships. Marcus Ericsson bagged $3.1 million after his victory in last year's race. With ticket sales on the up after the COVID-19 pandemic, perhaps this year's prize money payout can reach similar heights.
What is the Indy 500 purse for 2023?
Indy 500 purse: $16 million (est.)
The purse for the 2023 Indy 500 has yet to be released publicly. However, if last year's figures are any indication, drivers can receive a seriously pretty penny.
The 2022 Indy 500 featured the biggest-ever pot in the competition's history, dispersing funds of $16 million to the race's participants. With upwards of 300,000 spectators expected to descend on the Brickyard, don't be surprised to see a similar payout.
Indy 500 payout history
Marcus Ericsson lined his pockets with greenbacks after taking home last year's Indy 500, walking away with a record $3,100,000. It represented just the second time that race's cash prize has exceeded $3 million and reflected a return to form for the competition's revenue, which dropped off significantly during the COVID-19 pandemic.
MORE: Most wins in Indy 500 history
Here are all the previous purses and earnings in the past 106 years of the Indy 500.
| Year | Purse | Winner | Winner's earnings |
|---|---|---|---|
| 1911 | $27,550 | Ray Harroun | $14,250 |
| 1912 | $52,225 | Joe Dawson | $20,000 |
| 1913 | $55,875 | Jules Goux | $20,000 |
| 1914 | $51,675 | Rene Thomas | $20,000 |
| 1915 | $51,200 | Ralph DePalma | $20,000 |
| 1916 | $31,350 | Dario Resta | $12,000 |
| 1919 | $55,275 | Howdy Wilcox | $20,000 |
| 1920 | $93,550 | Gaston Chevrolet | $21,400 |
| 1921 | $86,850 | Tommy Milton | $26,400 |
| 1922 | $70,575 | Jimmy Murphy | $26,200 |
| 1923 | $83,425 | Tommy Milton | $28,500 |
| 1924 | $86,850 | L.L. Corum/Joe Boyer | $20,050 |
| 1925 | $87,750 | Peter DePaolo | $28,800 |
| 1926 | $88,100 | Frank Lockhart | $35,600 |
| 1927 | $89,850 | George Souders | $30,625 |
| 1928 | $90,750 | Louis Meyer | $28,250 |
| 1929 | $95,150 | Ray Keech | $31,950 |
| 1930 | $96,250 | Billy Arnold | $36,900 |
| 1931 | $81,800 | Louis Schneider | $29,500 |
| 1932 | $93,900 | Fred Frame | $31,050 |
| 1933 | $54,450 | Louis Meyer | $18,000 |
| 1934 | $83,775 | Bill Cummings | $29,725 |
| 1935 | $78,575 | Kelly Petillo | $30,600 |
| 1936 | $82,525 | Louis Meyer | $31,300 |
| 1937 | $92,135 | Wilbur Shaw | $35,075 |
| 1938 | $91,075 | Floyd Roberts | $32,075 |
| 1939 | $87,050 | Wilbur Shaw | $27,375 |
| 1940 | $85,525 | Wilbur Shaw | $30,725 |
| 1941 | $90,925 | Floyd Davis/Mauri Rose | $29,200 |
| 1946 | $115,450 | George Robson | $42,350 |
| 1947 | $137,425 | Mauri Rose | $33,425 |
| 1948 | $171,075 | Mauri Rose | $42,800 |
| 1949 | $179,050 | Bill Holland | $51,575 |
| 1950 | $201,035 | Johnnie Parsons | $57,458 |
| 1951 | $207,650 | Lee Wallard | $63,612 |
| 1952 | $230,100 | Troy Ruttman | $61,743 |
| 1953 | $246,300 | Bill Vukovich | $89,496 |
| 1954 | $269,375 | Bill Vukovich | $74,934 |
| 1955 | $270,400 | Bob Sweikert | $76,138 |
| 1956 | $282,052 | Pat Flaherty | $93,819 |
| 1957 | $300,252 | Sam Hanks | $103,844 |
| 1958 | $305,217 | Jimmy Bryan | $105,574 |
| 1959 | $338,100 | Rodger Ward | $106,850 |
| 1960 | $369,150 | Jim Rathmann | $110,000 |
| 1961 | $400,000 | A.J. Foyt | $117,975 |
| 1962 | $426,152 | Rodger Ward | $125,015 |
| 1963 | $494,030 | Parnelli Jones | $148,513 |
| 1964 | $506,575 | A.J. Foyt | $153,650 |
| 1965 | $628,399 | Jim Clark | $166,621 |
| 1966 | $691,808 | Graham Hill | $156,297 |
| 1967 | $734,834 | A.J. Foyt | $171,527 |
| 1968 | $712,269 | Bobby Unser | $175,139 |
| 1969 | $805,127 | Mario Andretti | $206,727 |
| 1970 | $1,000,002 | Al Unser | $271,697 |
| 1971 | $1,001,604 | Al Unser | $238,454 |
| 1972 | $1,011,845 | Mark Donohue | $218,767 |
| 1973 | $1,006,105 | Gordon Johncock | $236,022 |
| 1974 | $1,015,686 | Johnny Rutherford | $245,031 |
| 1975 | $1,001,321 | Bobby Unser | $214,031 |
| 1976 | $1,037,776 | Johnny Rutherford | $255,321 |
| 1977 | $1,116,807 | A.J. Foyt | $259,791 |
| 1978 | $1,145,225 | Al Unser | $290,363 |
| 1979 | $1,271,954 | Rick Mears | $270,401 |
| 1980 | $1,503,225 | Johnny Rutherford | $318,819 |
| 1981 | $1,605,375 | Bobby Unser | $299,124 |
| 1982 | $2,067,475 | Gordon Johncock | $290,609 |
| 1983 | $2,411,450 | Tom Sneva | $385,886 |
| 1984 | $2,795,899 | Rick Mears | $434,060 |
| 1985 | $3,271,025 | Danny Sullivan | $517,662 |
| 1986 | $4,001,450 | Bobby Rahal | $581,062 |
| 1987 | $4,490,375 | Al Unser | $526,762 |
| 1988 | $5,025,400 | Rick Mears | $809,853 |
| 1989 | $5,723,725 | Emerson Fittipaldi | $1,001,604 |
| 1990 | $6,325,803 | Arie Luyendyk | $1,090,940 |
| 1991 | $7,009,150 | Rick Mears | $1,219,704 |
| 1992 | $7,527,450 | Al Unser Jr. | $1,244,184 |
| 1993 | $7,681,300 | Emerson Fittipaldi | $1,155,304 |
| 1994 | $7,864,800 | Al Unser Jr. | $1,373,813 |
| 1995 | $8,063,550 | Jacques Villeneuve | $1,312,019 |
| 1996 | $8,114,600 | Buddy Lazier | $1,367,854 |
| 1997 | $8,612,450 | Arie Luyendyk | $1,568,150 |
| 1998 | $8,722,150 | Eddie Cheever Jr. | $1,433,000 |
| 1999 | $9,047,150 | Kenny Brack | $1,465,190 |
| 2000 | $9,476,505 | Juan Pablo Montoya | $1,235,690 |
| 2001 | $9,610,325 | Helio Castroneves | $1,270,475 |
| 2002 | $10,028,580 | Helio Castroneves | $1,606,215 |
| 2003 | $10,151,830 | Gil de Ferran | $1,353,265 |
| 2004 | $10,250,580 | Buddy Rice | $1,761,740 |
| 2005 | $10,304,815 | Dan Wheldon | $1,537,805 |
| 2006 | $10,518,565 | Sam Hornish Jr. | $1,744,855 |
| 2007 | $10,668,815 | Dario Franchitti | $1,645,233 |
| 2008 | $14,406,580 | Scott Dixon | $2,988,065 |
| 2009 | $14,315,315 | Helio Castroneves | $3,048,005 |
| 2010 | $13,592,815 | Dario Franchitti | $2,752,055 |
| 2011 | $13,509,485 | Dan Wheldon | $2,592,255 |
| 2012 | $13,285,815 | Dario Franchitti | $2,474,280 |
| 2013 | $12,020,065 | Tony Kanaan | $2,353,355 |
| 2014 | $14,231,760 | Ryan Hunter-Reay | $2,491,194 |
| 2015 | $13,397,315 | Juan Pablo Montoya | $2,449,055 |
| 2016 | $13,273,253 | Alexander Rossi | $2,548,743 |
| 2017 | $13,178,359 | Takuma Sato | $2,458,129 |
| 2018 | $13,078,065 | Will Power | $2,525,454 |
| 2019 | $13,090,536 | Simon Pagenaud | $2,669,529 |
| 2020 | $7,502,500 | Takuma Sato | $1,370,500 |
| 2021 | $8,854,565 | Helio Castroneves | $1,828,305 |
| 2022 | $16,000,200 | Marcus Ericsson | $3,100,000 |