The little-known cash bonus Olympic athletes receive if they medal at the Games – with Singapore offering an ASTONISHING amount for gold
- Olympic athletes can take home huge cash rewards for placing on the podium
- Aussies athletes winnings are dwarfed by others like the Philippines, Singapore
- Aussies bank $20,000 for gold, $15,000 for silver and $10,000 for bronze
- But they are only rewarded for their highest finish, denying multiple rewards
Besides the international admiration and being acknowledged as the best in their sport, Olympic athletes can take home some hefty bonuses for winning medals.
As well as becoming heroes for young aspiring athletes by finishing on the podium, our sporting heroes are rewarded with cash.
The Australian Olympic Committee’s medal incentive funding program provides $20,000 for a gold medal, $15,000 for silver and $10,000 for bronze.
Australian athletes (pictured Mixed 4×100 Medley team who won bronze) who take home a medal can win cash for their performances and can take home $20,000 for gold, $15,000 for silver and $10,000 for bronze
These rewards are only available for an athlete’s highest position, with only a single incentive payment being issued to athletes.
At the time of writing, Aussie competitors have taken home ten gold, three bronze and 13 silver medals.
But our Aussie athletes’ rewards are dwarfed by the sums other countries offer their winning competitors.
Singaporean athletes can take home whopping amounts, with a gold medal winner being handed just under $1million.
Singaporean Table Tennis player, Yu Mengyu (pictured) missed out on $250,000 after losing her bronze medal match in the Women’s Singles
Silver medallists also win $500,000 and $250,000 is given for bronze.
Medallists from the Philippines also get huge sums, and weightlifter Hidilyn Diaz took home 40 million pesos for her win in Tokyo – about A$1.08million.
She was the country’s first gold medallist in almost a century, winning the women’s 55kg category.
Medallists from the Phillipines also take home huge sums, and Hidilyn Diaz (pictured), the womens weightlifter who won gold, took home 40 million pesos, or about $1.08 million AUD
Officials and businesses also flooded the athlete with gifts including a condo and a vacation house, as well as a new car for her win which will cement her status as a national hero.
American athletes take home considerably less, with a gold medalist banking more than A$50,700, $30,450 for silver and $20,300.
They are also rewarded for each medal, not just for their highest performance.