WINNING GOLD

Getting to stand on the podium with a gold medal around your neck isn’t the only perk to being an Olympic gold medalist. While it’s true that you have the chance to represent yourself as the best athlete in your country and the world, there are other fun benefits to winning gold.

Money

Many Olympians aren’t paid to compete at the Olympics. There are, however, financial incentives for athletes to do their best and bring home a medal. Each country pays its winning athletes differently. In the US, medalists can receive $15,000 for earning a bronze medal while gold medalists from Singapore can earn as much as one million dollars. Olympians also get to keep their medals, which have both sentimental and actual value to them since they are made with precious metals.

Endorsements

If a new athlete is talented enough, they might get an endorsement or sponsorship from a large company to help pay for equipment and general costs. It also helps keep the Olympian in the public eye. Companies are usually eager for new up-and-coming athletes to wear their clothes, use their gear, or fuel up using their products. There is a rule, however, prohibiting athletes from promoting products right before and during the Olympics. After the games are over, however, it’s fair game!

Books / News / Influence

Many Olympians aren’t paid to compete at the Olympics. There are, however, financial incentives for athletes to do their best and bring home a medal. Each country pays its winning athletes differently. In the US, medalists can receive $15,000 for earning a bronze medal while gold medalists from Singapore can earn as much as one million dollars. Olympians also get to keep their medals, which have both sentimental and actual value to them since they are made with precious metals.