NBA In-Season Tournament prize: How much money is the winning team playing for?

The National Basketball Association announced that they will be holding the first NBA In-Season Tournament in the upcoming campaign.

The tournament will be played on Tuesdays and Fridays between November 3 to 28. As the competition moves further the semifinals will take place on Thursday, December 7, while the championship happens on Saturday, December 9.

There are mixed reactions from fans on how this will go but the league promises to spice up the competition during regular season games.

Aside from the lavish trophy presented during the press conference, each player participating in the NBA In-Season Tournament from the winning teams will be compensated as seen below:

Position	Prize Money
1st Place	$500,000
2nd Place	$200,000
Semifinal Exit	$100,000
Quarterfinal Exit	$50,000

The new trophy of the NBA In-Season Tournament is going to be called the NBA Cup and there will also be an MVP award that will be handed out.

How will the conferences be drawn up for the NBA In-Season Tournament?

Each NBA Conference will be divided into three groups of five teams each. All teams in the cluster will do a round-robin and six group winners will automatically advance to the knockout phase along with two wild card teams.

The six groups were determined through a random draw following the allocation of each team into one of the five pots to ensure a balanced distribution of the teams. For example, the first pot consisted of the top three teams from each conference based on their records while the second pot comprised teams with the fourth through sixth-best record in the conference.

The exact process is done in a similar manner for the remaining pots.

East Group A will have the Philadelphia 76ers, Cleveland Cavaliers, Atlanta Hawks, Indiana Pacers and Detroit Pistons.

East Group B consists of the Milwaukee Bucks, New York Knicks, Miami Heat, Washington Wizards and Charlotte Hornets.

East Group C includes the Boston Celtics, Toronto Raptors, Brooklyn Nets, Chicago Bulls and Orlando Magic.

West Group A is composed of the Memphis Grizzlies, Phoenix Suns, Los Angeles Lakers, Utah Jazz and Portland Trail Blazers

West Group B has the Denver Nuggets, Los Angeles Clippers, New Orleans Pelicans, Dallas Mavericks and Houston Rockets

West Group C is made up of the Sacramento Kings, Golden State Warriors, Minnesota Timberwolves, Oklahoma City Thunder and San Antonio Spurs.

Games that happen in NBA In-Season Tournament from the round-robin stage, quarterfinals and semifinals are going to count as regular season games. The quarterfinals will be played on the homecourt of the higher-seeded team while the semis to finals will be played on neutral ground in Las Vegas.