The 2023 U.S. Open is set to get underway on Monday with the first rounds of the men's and women's singles tournaments. Defending champions Carlos Alcaraz and Iga Świątek are set to defend their 2022 titles against strong fields.

Will we have a repeat champion in 2023? It's possible, but the U.S. Open is one of the more unpredictable Grand Slam events. The men's tournament hasn't seen a back-to-back champion since Roger Federer won his fifth straight in 2008. Serena Williams was the last woman to successfully defend her title, winning her third straight in 2014.

Alcaraz and Świątek will be battling for a piece of history, along with the winner's share of a massive $65 million prize purse.

2023 U.S. Open

When: August 28 - September 10

Where: USTA Billie Jean King National Tennis Center in New York City.

Field: 128 players for each singles tournament

TV and Live Stream: ESPN and ESPN+

Prize Pool: $65 million

Top Earnings Breakdown (Men's and Women's)

• First Place: $3 million
• Second Place: $1.5 million
• Semifinalist: $775,000
• Quarterfinalist: $455,000
• Round of 16: $284,000
• Round of 32: $191,000
• Round of 64: $123,000
• Round of 128: $81.500

The fourth and final grand slam tournament of the 2023 season has seen an increase in prize money for this year. It's an eight-percent increase over last year's U.S. Open with a record $65 million being distributed to all competitors.

$3 million will go to the winners of the men's and women's tournaments—a 15-percent increase over last year—and the U.S. Open is celebrating a milestone for equal compensation. From the event's official website:

"This year's increase in player compensation takes on greater significance as the US Open celebrates 50 years of equal prize money; in 1973, the tournament was the first of the four Grand Slams to offer the same purse for men and women, with each competing for total purses of $100,000, with a $25,000 payout to both the men's and women's singles champions."

Who will take home the top prizes in each singles bracket? That's the big question.

Alcaraz isn't the favorite in the men's tournament. That honor goes to Novak Djokovic, who didn't compete in the 2022 tournament but is a +125 (bet $100 to win $125) favorite, according to DraftKings Sportsbook.

It feels likely that we'll see a showdown between the No. 1-seeded Alcaraz and the second-seeded Djokovic in the final—a rematch of the Western & Southern Open, which Djokovic won.

Djokovic hasn't won the U.S. Open since 2018 and will be motivated to get back on top, but Alcaraz is a rising star and seemingly poised to become the new face of men's tennis.

"Now there is Alcaraz, who brings freshness and electricity and even novel shots," Sports Illustrated's Jon Wertheim recently wrote. "He wears the permasmile of a kid bemused by it all. He brings in new fans and is constantly in the 'youngest-ever' records."

Alcaraz has beaten Djokovic in their last three grand slam meetings, but a victory by the 20-year-old in New York could represent a true passing of the torch.

Other favorites in the men's tournament include Daniil Medvedev (+1000), Jannik Sinner (+1400) and Alexander Zverev (+3500).

On the women's side, Świątek is the top seed and the favorite at +240. She isn't going to be challenged by a living legend like Djokovic, and she answered a lot of questions at last year's tournament.

Prior to the 2022 U.S. Open, both of Świątek's grand slam wins had come on clay at the French Open. She had previously only made it past the fourth round once in hard-court grand slam events.

Winning the U.S. Open, though, showed that Świątek is a legitimate threat on any surface.

If there's a top challenger to Świątek in the women's bracket, it's probably Aryna Sabalenka, the No. 2 seed and second betting favorite at +745. While Świątek made another fourth-round appearance in January's Australian Open, it was Sabalenka who won it all.

Coco Gauff is the third favorite at +700 and could spoil Świątek's push to the final. The two could meet in the quarterfinals, and the 19-year-old just notched her first win over Świątek in eight tries at the Western & Southern Open

Elena Rybakina is the fourth favorite in the women's bracket at +800.

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