While the International Olympic Committee doesn’t pay prize cash to medalists, numerous nations offer financial compensations to their competitors for the quantity of decorations they succeed at the Olympics.
Past getting financial and non-money related prizes from their nations for winning decorations, Olympians depend on other income streams for their brandishing tries.
Competitors from greater, more cutthroat nations get allowances or preparing awards from their public games affiliations. Top entertainers gather prize cash by winning public and worldwide competitions. Others draw normal compensation by holding an assortment of occupations.
A modest bunch of competitors might score multimillion dollar supports or sponsorship bargains, either prior to contending at the Olympics or subsequent to making progress in the Games
Most Team USA competitors are not addressed by sports specialists and some have no patrons or supports by any means
In excess of 600 U.S. competitors are contending at the Tokyo Olympics, and the United States has so far won 11 gold, 11 silver and 9 bronze.
The U.S. Olympic and Paralympic Committee rewards competitors $37,500 for each gold award won, $22,500 for silver and $15,000 for bronze. A large portion of that prize cash isn’t available except if competitors report net pay that surpasses $1 million.
U.S. competitors additionally get different types of help including health care coverage, admittance to top-level clinical offices and schooling cost help.
In correlation, Singapore remunerates its gold medalists almost multiple times more than the U.S. Players who secure their first individual gold award for the city-state remain to get 1 million Singapore dollars ($737,000). The prize cash is available and awardees are needed to return a segment of it to their public games relationship for future preparing and improvement.
Prizes reported by India
The Indian Olympic Association has set monetary rewards of Rs 75 lakh for gold medalists and Rs 40 lakh and Rs 25 lakh for silver and bronze separately.
Notwithstanding, that prize will be heightened by steep monetary compensations being offered by a few states to prod their competitors to decorations at Tokyo Olympics. Most noteworthy prizes are reported by Uttar Pradesh, Haryana and Odisha at Rs 6 crore for gold victors, Rs 4 crore for silver and Rs 2 crore, Rs 1.5 crore and Rs 2.5 crore separately for bronze.
Most states have declared monetary compensations where a gold award will procure competitors between Rs 1-3 crore. The least monetary reward declared is supposedly by West Bengal at Rs 25 lakh (G), Rs 15 lakh (S) and Rs 10 lakh (B).
Aside from such monetary compensations on winning awards, a few Olympians additionally sack sponsorship or support bargains on the rear of achievement in the games. However, such arrangements are as yet uncommon for medalists in most Olympic games.
Here is look at how much money medalists from some countries could take home:
COUNTRY GOLD SILVER BROZNE
| Australia | $15,000 | $11,000 | $7,000 |
| Japan | $45,000 | $18,000 | $9,000 |
| Singapore | $737 | $369,000 | $184,000 |
| Brazil | $49,000 | $29,000 | $20,000 |
| Canada | $16,000 | $12,000 | $8,000 |
