Banooda

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. 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 ? Read article...