Anonymous asked in SportsOlympics · 1 decade ago

Is there prize money given with olympic medals?

5 Answers

  • Maxx P
    Lv 5
    1 decade ago
    Favourite answer

    There's no pay from the IOC (International Olympic Committee) when they win a medal.. But many many countries Olympic committees pay their athletes for winning medals. Among them, The U.S., Russia, Canada, China & Italy and many more countries.

    $20K-$50K per gold medal is typical in bigger countries.. Silver & bronze obviously get less. The smaller countries actually tend to pay more, $50K-$100K, since a single gold is more important to their country. Some athletes receive cars, houses and promise of jobs when they retire.

    Higher profile athletes will also get bonuses from their sponsors.

    Starting with the 1988 Olympics in South Korea, Olympic athletes were no longer barred from taking payments and bonuses. It was a rule that was not followed anyway, so they just scrapped it. 1984 was the last "amateur" Olympics.

  • 1 decade ago

    Direct prize money, no. Endorsement money after winning a gold? Quite possible.

    The ideal Olympic athlete is not supposed to be a professional. However, that idea went by the wayside, at least in basketball and ice hockey. And there have been schemes for many years to get money into athletes' pockets so that they could get compensated "within the rules" at "amateur" events outside the Olympic games.

  • Anonymous
    1 decade ago

    Olympic Gold medal is enough monetary price... The glory is what nobody can buy. Okay just imagine... Bill Gates could never become an olympic gold medallist even with all his money!

    Source(s): mine
  • 1 decade ago

    Dont believe so, it's more about the glory of winning.

  • What do you think of the answers? You can sign in to give your opinion on the answer.
  • Anonymous
    1 decade ago

    No, there isn't.

Still have questions? Get answers by asking now.