The value of a medal from the Olympics depends largely on which country you represent. Although all medals have the same value when it comes to the precious metals on the medals (Gold: $566, Silver: $325, Bronze: $3), the prize money awarded by different countries to their winning athletes varies by tens of thousands. of dollars.
Top 5 Bonuses by Country
The value of an Olympic gold medal can vary greatly depending on the country represented. The actual precious metal content of the medals is very low, but the monetary awards given by the countries vary greatly.
Top 5 Bonuses By Country
Singapore
Singapore continues to lead with the top prize of SGD 1,000,000 (approx. USD 738,000) gold medal. Singaporean athletes compete in a variety of sports, with a focus on table tennis and swimming.
Indonesia
Indonesia is offering IDR 10 billion (about USD 660,000) for the gold medal, which shows its strong commitment to supporting athletes, especially in badminton and weightlifting.
Kazakhstan
Kazakhstan offers USD 250,000 for the gold medal, keeping its biggest prize for Olympic success. The country has a strong presence in boxing and wrestling.
Azerbaijan
Azerbaijan awards gold medalists USD 248,000. The country has a distinguished history in wrestling and boxing, which contributes to its Olympic success.
Italy
Italy is offering EUR 180,000 (about USD 200,000) for a gold medal, continuing its tradition of supporting athletes in various sports, including fencing and cycling.
Other Notable Bonuses
Countries like Hungary (USD 125,000) and Russia (USD 61,000) also offer big prizes. The USA offers USD 37,500 for gold, while Canada and Australia offer the lowest prices of CAD 20,000 (about USD 15,000) and AUD 20,000 (about USD 13,500), respectively.
Beyond Cash Bonuses
The true value of an Olympic medal is often more than just a quick cash prize. Many athletes get lucrative endorsement deals, especially in elite sports, which greatly increase their earnings.
Bottom of the List
In comparison, the bonuses offered by Canada and Australia are more severe. A gold medal for a Canadian athlete will mean a bonus of $15,000, with silver bringing in $11,000 and bronze earning $8,000.
And, unlike many other countries, the US taxes these bonuses which means that about 39.6% will end up going back to the IRS.
Of course, cash bonuses can only be a fraction of the actual value of an Olympic medal won, especially a gold medal. Gold (along with silver and copper) can often mean lucrative endorsements and advertising deals worth hundreds of thousands of dollars, if not more. A lot of this depends on the country and what event the medal comes in, but it's usually these deals that bring in the most money for winning an Olympic medal.
But more than what they do is what we can learn from these athletes, about everything they do, and all the work they do. It is an amazing feat for them to win the gold.
Source link
