Besides medals, here's what Olympic winners get

As thousands of Olympic athletes vie for a place on the podium in Paris come Saturday, 17 July, some who finish on top will go home with more than just a medal.

But what exactly will Olympic winners go home with?

The actual Olympic Committee gives medals 

The International Olympic Committee (IOC) does not monetarily award winners beyond medals. It does not stop national governments, organisations, or sports federations from incentivising athletes with cash or other prizes. 

Under the US Olympic and Paralympic Committee’s Operation Gold program, Olympic gold medalists receive $37 500 while silver and bronze medalists receive $22 500 and $15 000, respectively. 

National sports organisations also have programs to reward athletes, with USA Wrestling’s Living The Dream Medal Fund offering $250 000 for Olympic gold medals and USA Swimming offering $75 000.

But... some sports governing bodies step up

World Athletics, the international governing body for track and field, announced in April that Olympic gold medalists in track and field events will receive a reward of $50 000.

The International Boxing Association — stripped of recognition by the IOC last year due to financial and governance concerns — said it would offer $100 000 to boxing gold medalists, 'setting a clear example for many on how international federations should be treating their champions'.

Some countries also give cash

In what may well be the single largest payout for an Olympic medal, Saudi authorities awarded karate athlete Tareg Hamedi 5 million riyals (about $1.33 million) after he narrowly missed the gold — settling for silver after being disqualified over an illegal kick — at the Tokyo Olympics in 2021. 

Other wealthy Gulf states like Bahrain and Qatar, which have a history of poaching foreign athletes with lucrative deals, are also known for offering hefty rewards in exchange for sporting medals.

In 2005, Qatar famously offered top South African swimmer Roland Schoeman a multimillion-dollar contract, including a R1 million bonus for every Olympic medal or world title won. Schoeman rejected the offer.

Hong Kong’s gold medalists, if there are any, at the Paris Olympics will get among the largest cash reward on offer: HK$6 million, as part of the city’s Athlete Incentive Awards Scheme, sponsored by the Hong Kong Jockey Club, the city’s official betting organiser.

Singapore, through its Major Games Award Programme that’s largely sponsored by the national lottery board, offers S$1 million (over $700 000) for individual winners, S$1.5 million for winners of team events (like athletics relays or tennis doubles), and S$2 million for winners of team sports (like basketball or soccer).

Meanwhile, Taiwan’s Olympic gold medalists, under a government medal program, receive NT$20 million (over $600 000) and a lifetime monthly stipend of NT$125 000 (about $4000).

Some winners get cars, houses, even cows

Some countries, often in addition to cash, bequeathed lavish rewards upon winning athletes, from luxury cars to apartments. 

Malaysian authorities have promised their athletes foreign-made cars if they bring home medals from Paris while, in Kazakhstan, Olympic winners are legally entitled to apartments — the size of which will differ according to their medal colour.

Of course, for some, qualifying for the Olympics is payment enough... 

With this comes endless bragging rights, too.