Do olympic athletes get money for winning medals

There's a lot of good reasons to be an Olympic athlete, don't get us wrong — but is it a big payday? Here's how much Olympic athletes are paid for participating by the International Olympic Committee IOC: And that's despite the fact that the IOC makes millions each year.

Rio Olympics Medal Value & Cash Prizes Money

For the Quadrennium, revenue from U. But that doesn't mean that athlete's earn no money, per se. For one thing, a variety of different, non-IOC groups do give out money.

For example, the United States Olympic Committee pays out medal bonuses: Sports notesthese prices haven't changed in 10 years, and are now worth over 5 grand less due to inflation. Then, of course, there's sponsorship money, which can be huge for the big stars.

There are approximately 15, athletes competing in 26 sports, with around 1, medals up for grabs for the best of the best. For the rest of the Olympic athletes, the numbers get tough. Many in more obscure sports do olympic athletes get money for winning medals lucky to make any money at all, CNN reports. This article originally underestimated the number of medals that are given out, and the number has been amended.

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Please go to Windows Updates and install the latest version. Trending Tech Insider Finance Politics Strategy Life Sports Video All. You have successfully emailed the post. Here's How Much Olympic Athletes Really Get Paid.

Not a penny of that money goes to the athletes, whether they come first or last. Olympics Finance of the Olympics. Recommended For You Powered by Sailthru.

This is how much money Olympians make for each gold medal - Business Insider

Here's How Much Olympic Athletes Really Get Paid Here's How Much Olympic Athletes Really Get Paid It's kind of complicated. Thanks to our partners. Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. Disclaimer Commerce Policy Made in NYC. Stock quotes by finanzen.