Do athletes receive a monetary award if they win a medal in the olympics?

Question

Do athletes receive a monetary award if they win a medal in the olympics?

Answer 1

the USA olympic committee pays 25k for gold 15 for silver and 10 for bronze..then you can consider endorsements also...  

Answer 2

The Philippine President pledge a gift to anyone who will bring home medal for the Philippines. But not a single medal was won. At least the Philippines will save some money to pay the outstanding loans.

Answer 3

Yes for Gold...each country pays a different amount

Answer 4

HUNGARY will give 20m Ft/gold medal which is $123,000 (USD) per athlete. Not counting endorsement deals.  

Answer 5

All numbers below are in US dollars, and for gold medals only. Many of these countries do pay for silver and bronze, but to a lesser extent.

Island of Cyprus is awarding $765,000 for a gold. Win a couple of gold medals and you can retire for life if you invest your money right.

Azerbaijan, a country on the Caspian Sea that gained independence after the fall of the Soviet Union, is paying $732,000 for its first gold.

India has given $365,000 for their first gold medal winner. One in a billion is not that good an odds though.

Philippines government has a reward for a gold set at $365,000.

Greece is giving $311,957 for a gold over an extended period. There is a catch of military service and a pension plan that will guarantee a good living for the rest of your life.

Thailand has a bounty of $308,913 for solid gold medal.

United Arab Eremites is paying $270,000 for an Olympic gold. With the price of oil being so high, they have some extra money to spare.

Dominican Republic has placed $200,000 on the value of a gold medal.

Hong Kong, which is technically a part of China and is an anomaly to have its own Olympic team, is offering $132,000. Those that could not make the Chinese team could be here if they can qualify?

China, the host of the games, wants a lion share of the medals so it is offering $82,708 according to published numbers. The real figure is a guarded secret, and rumor has it they will pay athletes very handsomely for performance and dedication to the government.

Russia, the "Great Bear," will pay its gold medal winners $50,000 tax free. At least the Russians realized it is less paperwork in the process of giving money to the athletes, and then collecting taxes back.

United States of America is paying $25,995 for a gold medal. Michael Phelps alone can cash in over $200,000 this year in gold medals, but his endorsements will net him tens of millions of dollars.

Germany is offering $20,000 for each gold medalist. Taxes will get a majority of the money.

Australians will receive $20,000 per gold medal. They could be spending more, but they are still paying for the festivities of the 2000 Olympic Games.

Canada is paying $20,000 per gold as well, but it will add a $50,000 bonus for any swimming gold medals. A government sponsored advertiser Speedo is behind the $50,000.