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Greatly increased prize money and attendance from the 1960s reflected the increased popularity of show jumping.
In 2011, the ATP increased prize money for the 2012-14 seasons.
Wimbledon yesterday increased prize money by 6.1percentt for this year's tournament, to be played June 26 to July 9.
The Grand Slam events unanimously rejected that request, but they have all increased prize money this year, particularly in the marquee singles events.
The increase continues the theme of increased prize pools at the grand slams after players campaigned for greater financial rewards and equal prizes for men and women.
The Australian Open has bowed to player pressure and increased prize money for early losers at the season's opening grand slam.
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The price of a National Lottery ticket will double this year to £2, in a move which organisers hope will "refresh" the game and will hand increased prizes to the vast majority of winners.
"We do agree that we should be increasing prize money," Tiley said.
The French Open will increase prize money by another $13 million by 2016.
Over the past year, the top men's players have been pressuring the Grand Slam tournaments to increase prize money.
They have outlined goals, including increasing prize money at competitions and having some existing events count as Olympic qualifiers.
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