The Gippsland Trophy is one of three WTA 500 events in the first week of February, gathering seven top-20 players and some Australian Open favorites.
Simona Halep, Naomi Osaka, Elina Svitolina, Aryna Sabalenka, Johanna Konta, Iga Swiatek and Elise Mertens will seek 470 points and momentum ahead of the season's first Major, facing formidable rivals already from the first match.
The winner will get $68,570 and 470 points, followed by $50,130 and 305 points for the runner-up. The semi-finalists pick $26,745 and 185 points, while the quarter-final spots bring $12,675 and 120 points. Those who win two matches will secure #6,480 and 55 points, with $4,100 and 30 points reserved for the second round. The first-round exit carries $3,375 and 1 WTA point.
Gippsland Trophy 2021 prize money and points distribution:
| Prize money | Points distribution | |
| Winner | $68,570 | 470 |
| Runner-up | $50,130 | 305 |
| Semi-final | $26,745 | 185 |
| Quarter-final | $12,675 | 120 |
| Round 3 | $6,480 | 55 |
| Round 2 | $4,100 | 30 |
| Round 1 | $3,375 | 1 |
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