US Open prize money will jump to a record $34.3 million this year and could reach $36.9 million, the US Tennis Association announced on Wednesday.

The figures are higher than the planned record boost announced last March and represent a jump of at least 37 percent and as much as 43 percent for second and third-round losers compared to last year, when prize money totaled $25.5 million.

The year's final Grand Slam is set to begin on Aug 26.

Three months ago, the USTA announced the US Open prize money would reach $33.6 million in its 40th year of equal prize money for men and women as part of a five-year deal that will see prize money total $50 million by 2017.

The men's and women's singles champions will each receive $2.6 million, the largest one-event payout in tennis history and a 37 percent boost from last year.

Another $2.6 million is available in bonus money depending on how the eventual winner performs in pre-US Open events.

A US Open singles runner-up will receive $1.3 million, while semifinal losers will receive $650,000 and losers in the quarterfinals will take home $325,000.

Losing in the fourth round will still bring $165,000, with $93,000 to third-round losers, $53,000 to those who go out in the second and $32,000 for those who fail to win their first match.

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