Next month’s Pikes Peak Marathon and Pikes Peak Ascent will reward winning participants like never before.

Race officials announced Wednesday that prize money has been doubled and a number of incentive bonuses have been added for the 57th installment of the competitions. More than 2,500 runners will take to the mountain Aug. 18 and 19 for the races.

Runners begin their treks at about 6,300 feet elevation in downtown Manitou Springs, with Ascent competitors finishing at the top of Pikes Peak and Marathon participants winding their way back down to the finish line on Manitou Avenue.

The third-oldest marathon in the United States, the Pikes Peak Marathon is a true test of will that is known as “America’s Ultimate Challenge.”

“This race is about amazing people doing amazing things,” said Pikes Peak Marathon president Ron Ilgen. “This (prize money increase) is an effort to continue our commitment to this community. We’re full for this year, and now we will see who from the running world really wants to come and try this out.”

A total of $4,000 will be awarded in the men’s and women’s divisions for the top four finishers of the Ascent, with the top four runners in the Marathon winning a total of $5,000. Ascent winners will pocket $2,000, with Marathon champions taking home $3,000 apiece.

The first male to complete the Ascent, or the ascent leg of the Marathon, in less than 2 hours — Matt Carpenter set the record of 2 hours, 1 minute and 6 seconds in 1993 — will win the first-ever Ascent Bounty, worth $5,000. The first woman to complete the same 13.32-mile course in less than 2:32:00 — Lynn Bjorklund set the record of 2:33:31 in 1981 — also will earn $5,000.

Any male or female runner who breaks the Ascent course record will receive a $2,000 bonus, and any Marathon runner who sets a new course record will earn $4,000. Owners of the fastest times from the Ascent will also receive $1,000, and the male and female winners of the Marathon each will take home a $1,000 Skyrunner Federation Cash Award.

Organizers hope the increased prize money and addition of the bonuses will increase interest in the races. Some of the country’s top trail runners are expected to compete in the 2012 races; some observers are saying it could be the toughest field of athletes ever at the races.

“(The money increases) lend some legitimacy to the sport that we respect,” said Pikes Peak Marathon committee member Nancy Hobbs, an avid runner. “We really want to highlight trail runners’ performances, and this is one way to do that. It’s a win-win for everyone involved, and I think we’re just going to gain momentum from this for years to come.”

A runner would take home $18,000 for winning both races and setting records along the way. Runners in a single event could pocket up to $14,000, a fact that should boost interest in the community’s featured running races.

The announcement was made at a lunchtime press conference at the Pioneers Museum.