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How Much Is An Olympics Medal Worth ? Is There Any Cash/Prize Money For Winning Olympic Medals ?

June 8, 2018 By totalsportek2

Rio Olympics 2016 are underway with all its glory and controversies. Athletes from around 200 countries will be fighting it out for medals in 26 sports. Have you ever wondered what is at stake for medal winners ? “DO Olympic medalists receive cash prizes along with the medals ?” Well, in most of the cases yes but the athletes don’t receive any prize money from Olympics committee but its their national Olympic federation who award prizes which are disclosed before the tournament. Lets take a look at cash prizes awarded by different federations.

Rio Olympics 2016 medals value
So the cash prize awarded to athletes are different from country to country and the usual big guns like United States only offer around $25,000 for winning the gold, $15,000 for silver and $10,000 for Bronze  while Azerbaijan award $510,000 to the winner of gold,  $255,000 for silver and $130,000 for bronze.

But you have to take into account that athletes who wins Gold for USA, UK, Australia etc can hit a jackpot in terms of endorsement deals which can be much more cash rewarding compared to just the one off payment. Before we explain which federations pays the most we take a look at how much the Olympic medals are worth ?

Value of Summer Olympics Medals:

  1. Gold: $600 (The gold medal consist of just 1% of actual gold, 92.5% silver and 6.16% copper).
  2. Silver: $325 (While in silver medal, the gold is replaced by more copper rest meterial is the same like gold medal)
  3. Bronze: $3 (Bronze medal however is 97% copper and 2.5% zinc and 0.5% tin)

Thats the actual worth of raw material used in the medal but of course if athletes were to sell/auction their medals they will get alot more than just the face value of material. See Also: All-Time Olympics Medal Table

Cash Money Rewards for Olympic Medalists:

Like we mentioned before Olympic medalists do get cash rewards from almost all the the national olympic federations and here are some of the highest paying federations in oympics. Most of the countries award lump sum payments but some countries like Philippines and Thailand award cash prized which are staple income over 20 years. Only a handful of countries ward cash prized to silver and bronze medalists while most federations only award prized for gold winners.

Highest cash rewards paid by different national Olympic federations
NO# COUNTRY GOLD SILVER BRONZE
1 Singapore S$1 million (US $757,000) $370,000 $189,000
2 Malaysia A solid gold bar worth (around $600,000) $300,000 $150,000
3 Azerbaijan $510,000 (shared by athlete and coach if any) $255,000 $130,000
4 Kazakhstan $250,000 $150,000 $75,000
5 Thailand  $314,000 (over 20 years period)
6 Philippines  $237,000 (over 20 years period)
7 Kyrgyzstan $200,000
8 Latvia $190,000
9 Italy $189,800 $95,000 $50,000
10 Uzbekistan $150,000
11 Belarus $150,000
12 Ukraine $150,000
13 Russia $180,000 $90,000 $45,000
14 Australia  $126,000
15 Tajikistan  $63,000
16 France $65,000
17 China  $31,400
18 USA  $25,000
19 Germany  $19,500
20 India RS 1 Crore ($150,000) $80,000 $45,000
21 Brazil Around $11,000 for every medal regardless of the color of medal (every memeber of Football team will get $100,000 for winning gold)
22 Sweden No cash prized for winning medals (Sweden Olympics committe supports athletes from 6 year old to all the way professional levels)
23 United Kingdom no cash prized awarded by Britain’s Olympic Committee
OTHER COUNTRIES Almost all the countries award cash prized to medalist in some form

table seperater

Filed Under: News

Comments

  1. Justin Ryuji Peng says

    August 7, 2016 at 9:05 pm

    highest is not Azerbajian but is actually Singapore. This is the reward for Singapore’s medalist

    Individual Event:
    Gold: S$1,000,000
    Silver: S$500,000
    Bronze: S$250,000

    Team Event worth more, usually is 1.5 times more than individual rewards, but it will be shared among the team members.

    • Nishinoya says

      August 15, 2016 at 3:50 am

      Where does it say that Azerbaijan is the highest?

  2. VIkas KanOje says

    August 14, 2016 at 1:15 am

    200 countries are participating in Rio Olympics? I guess 5 countries are from other planet. Earth only has 195 countries.

    • Nishinoya says

      August 15, 2016 at 3:49 am

      It says ‘around’; like almost, more or less.

  3. Nzugu Hoffman says

    August 14, 2016 at 2:00 am

    It’s called Uzbekistan in English, not Uzbikstan, and it’s the greatest country on Earth, like U.A.E. on steroids in terms of financial and social benefits for citizens, with more individual freedoms than European countries and more liberal gun laws than USA. Long live Uzbekistan and its great president!

    • Ibrokhim Tokhirov says

      August 17, 2016 at 8:24 am

      I guess they have changed the name after your complain feedback)

      • Sarvesh Takalkar says

        August 25, 2016 at 7:02 pm

        Lol

    • gdod25 says

      August 21, 2016 at 9:04 pm

      How do I get citizenship? (-:

    • T.F. says

      August 25, 2016 at 2:17 am

      Compare U.A.E. and Uzbekistan-

      Uzbek: GDP (PPP) 2015 estimate
      • Total $183.933 billion[13] (62)
      • Per capita $5,939[13] (125th)
      Uzbek: GDP (nominal) 2015 estimate
      • Total $68.190 billion[13] (70th)
      • Per capita $2,202[13] (130th)

      U.A.E: GDP (PPP) 2015 estimate
      • Total $647.823 billion[3] (32nd)
      • Per capita $67,616[3] (7th)
      U.A.E. GDP (nominal) 2015 estimate
      • Total $345.483 billion[3] (28th)
      • Per capita $36,060[3] (19th)
      Hardly statistics to brag about…not to mention the unpaid labor and child labor issues. Per capita is more than 12-18 times higher in U.A.E. Landlocked from all directions.

      Non-governmental human rights watchdogs, such as IHF, Human Rights Watch, Amnesty International, as well as Department of State and Council of the European Union define Uzbekistan as “an authoritarian state with limited civil rights”[41] and express profound concern about “wide-scale violation of virtually all basic human rights”.[42] According to the reports, the most widespread violations are torture, arbitrary arrests, and various restrictions of freedoms: of religion, of speech and press, of free association and assembly. It has also been reported that forced sterilization of rural Uzbek women has been sanctioned by the government.[43][44] The reports maintain that the violations are most often committed against members of religious organizations, independent journalists, human rights activists and political activists, including members of the banned opposition parties.

      No thanks. Obviously you’ve been brainwashed into thinking this is the best place in the world.

  4. cuivre2004 says

    August 16, 2016 at 8:26 pm

    Ask Ronda Rousey about how her medal in judo worked out for her in Beijing (or read her book). She made her fame and fortune in the private realm of MMA/UFC.

  5. Yerbol Sadykov says

    August 19, 2016 at 5:26 pm

    Kazakhstan is most great country. In terms of won medal qty and lowest population

  6. totalSPORTEK says

    August 22, 2016 at 7:37 am

    UK Olympic committee provide all the financial support to athletes from very young age to all they when they become professionals.

  7. totalSPORTEK says

    August 22, 2016 at 7:38 am

    You dont know what you talking about. Indian Railway athletes competing in Olympics 2016 will get max RS 1crore for gold (around $75,000). RS 50 lakh for silver and Rs 30 lakh for Bronze.

    • Sarvesh Takalkar says

      August 25, 2016 at 6:58 pm

      Around 3,72,500Usd( Twenty Five Million INR) rewarde by State government to bronze medalist sakshi malik.. Agreed with hitesh

      Award get to sakshi malik from goverment (Copied from Wikipedia..)

      Rajiv Gandhi Khel Ratna (2016) – highest sporting honour of India[22]
      Multiple cash prizes totaling over ₹5 crore (US$740,000) from the Indian Railways, the Indian Olympic Association, the Ministry of Youth Affairs and Sports, the Government of Delhi,[23] various state governments, including Haryana,[24] Madhya Pradesh,[25] Uttar Pradesh, and from private bodies such as the JSW Group.[26]
      Promotion to gazetted officer rank by her employer, the Indian Railways

  8. Rifa Mulyawan says

    August 25, 2016 at 10:26 am

    The second is not Malaysia, but Indonesia.

  9. Dimitri says

    August 25, 2016 at 6:30 pm

    Russia is paying for gold 4 Mil Ruble which is around 54K EUR, 2.5 Mil Ruble for Silver and 1.7 Mil for bronze.

  10. Ranjan says

    July 29, 2017 at 3:35 pm

    Hey i am ranjan

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