Paris 2024: Bonuses athletes will receive for winning gold at the Olympics
Some athletes have a little bit of extra incentive to do well...
Competing at the Olympics and representing your country is one of the greatest honours for any athlete.
These athletes work tirelessly and put in thousands of hours with the hopes of qualifying for the Games.
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But nothing can compare to winning an Olympic or Paralympic medal.
While many might think it doesn't get any better than that, some countries offer a nice financial bonus to their athletes who make the podium.
Forbes Australia has released the official numbers for the countries competing in the 2024 Paris Olympics, revealing how much they will pay their gold medalists. Some countries will also be paying their silver and bronze medalists a cash payout.
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They contacted the national Olympic committees and government sports ministries of over 206 countries and territories. They managed to confirm that at least 33 of these with be awarding cash prizes to medal winners.
You can see the full list of amounts for gold medals only below:
There are 15 countries and territories that are paying six figures to athletes:
Hong Kong - $768,000
If athletes fail to make it to the podium, fourth place will also guarantee them nearly $100,000 and fifth through eighth will get $50,000.
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Israel - $275,000
Individual sports athletes can also receive roughly $192,000 for silver and $137,000 for bronze. Pairs will receive 75% of the bonus, teams of three or four will get 50% and groups of five or more receive 40% each. "Ball games" such as soccer will see $275,000 split amongst the 18 players and seven staff members.
Serbia - $218,000
Athletes who claim gold, silver or bronze also become eligible for a national pension. This pension kicks in at the age of 40 and is paid out monthly.
Malaysia - $214,000
Bronze medalists receive 10% of this figure, but all Malaysian competitors are entitled to a life pension which ranges between $400 and $1,100 per month.
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Italy - $196,000
Italy is unique in that it doesn't split bonuses for team sports. Each athlete will receive an estimated $196,000 for gold, $98,000 for silver, and $65,000 for bronze.
Lithuania - $182,000
Both the athletes and coaches get paid for medals. The amount is determined by “basic social benefit”, a monthly amount used in social security calculations. They also pay an athlete’s rent after their career has ended.
Moldova - $171,000
A Moldovan athlete will also get compensated around $11,000 if they finish in eighth place.
Latvia - $155,000
They provide bonuses up to sixth place. Each descending place gets 60% of the previous mark. Silver is roughly $93,000, and bronze is $56,000.
Hungary - $154,000
They offer one of the most lucrative bronze offerings at $88,000.
Bulgaria - $139,000
They offer $111,000 for silver and $83,000 for bronze.
Ukraine - $125,000
Kosovo - $120,000
Kosovo’s sports ministry will also award an estimated $218,000 to an athlete in an individual sport who sets a record.
Estonia - $109,000
Estonian athletes will also receive around $7,000 in monthly payments for the next two years. Coaches are also eligible for a reward capped at half of an athlete’s bonus.
Czech Republic $103,000
Spain - $102,000
Only athletes competing in individual sports will receive this major payout. Members of two-person teams will get around $82,000 and groups of three or more will get around $54,000.
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