The value of a medal

Do you know how much an Olympic medal’s worth? You might be surprised by the answer

With the Tokyo Olympic Games just around the corner, athletes from around the world are gearing up to try and beat the competition for the chance to win a medal. Around 10,000 athletes compete in the Games – but there are just 300 medals up for grabs.

But what’s the real value of a medal? While it’s the culmination of years of hard graft, medals can offer a financial incentive for athletes, too. The amount an athlete can receive for winning a medal varies between governments, but it’s safe to say there’s more than just bragging rights up for grabs.

Of the top 10 medal-winning countries at Rio in 2016, Italy offered its gold medal-winning athletes a whopping $185,000. Italy won eight gold medals at Rio, which brings their total prize haul to just under $1.5million! Russia offers $62,600 per gold medal, while the USA pays $25,000 and China $30,000.

The UK government doesn’t pay anything for a gold medal but had the second highest number of gold medals at Rio – 27, after the USA’s whopping 46.

The money that comes with a gold medal makes up only part of an athlete’s income. Sponsorship and endorsements provide a great income, and these often come more frequently following a top-class Olympic performance.

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