As if lifting the Webb Ellis trophy wouldn't be sweet enough, now the Wallabies have been promised a $5 million windfall if they win this year's Rugby World Cup.

The Australian Rugby Union and the Players' Association on Friday said they had reached an enticing agreement to provide the Wallabies with even more motivation to land a record third World Cup.

A mega total of $4.91 million is on the table for the Wallabies if they win the six-week tournament in September-October in New Zealand.

With the squad pledging to split the booty 30 ways regardless how many minutes each individual spends on the pitch, each and every Wallaby will pocket $163,533.33 with a successful campaign.

Under the agreement, the Wallabies have agreed to accept a decrease in their regular Test-match payments in order to maximise their prospective bonus for winning the tournament.

So, having backed themselves, the second-ranked Wallabies' incentive scheme will only be activated if they reach the October 23 final in Auckland.

Match payments will be reduced from around $13,000 to a flat $10,000 for pool games and $11,000 for knockout matches, but a bonus of $110,000 awaits each player if Australia becomes the first country in RWC history to claim the title for a third time.

At the 2007 Rugby World Cup, squad members were to receive a bonus if they advanced past the quarter-finals.

But no bonus was paid when the Wallabies fell to England and failed to reach the semi-finals.

In 2011, the Wallabies squad will be entitled to $25,000 per player should they win a semi-final and reach the tournament decider.

All 30 players will be entitled to a further incentive bonus of $85,000 each if they are crowned Rugby World Cup champions, as Australia were in 1991 and 1999.

"We believe this agreement gives the players an opportunity to be well and deservedly rewarded if they achieve the ultimate and return from New Zealand as Rugby World Cup champions," ARU boss John O'Neill said.

"Winning the Rugby World Cup would have enormous flow-on benefits for the game in this country, so it is only fair the players have an opportunity to receive a tangible benefit if they reach the highest achievement level our game offers.

"(The) ARU also acknowledges that this exciting group of players is prepared to back itself and reduce match payments to maximise their incentives should they win the tournament."

RUPA chief executive Greg Harris said the Wallabies and ARU had acted in a "most co-operative and responsible manner in reaching this agreement on the commercial side of the quest for the game's biggest prize".

"The players view themselves as partners in the development and growth of the game and appreciate the impact that success at the Rugby World Cup will have on the future of the sport in Australia," Harris said.

"They have expressed both their confidence and their desire to be successful through their commitment to this agreement."

The Wallabies launch their World Cup campaign against Italy in Auckland on September 11.

Robbie Deans' men play further pool matches against Ireland (Auckland, September 17), USA (Wellington, September 23) and Russia (Nelson, October 1).

Australia are seeded to meet Wales in the quarter-finals in Wellington on October 8, France or England in the semi-finals in Auckland on October 15 and South Africa or the top-ranked New Zealanders in the title match.

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