Olympic Medalists Cash Prizes

Olympic Medalist Cash Prizes: How Money Are You?

July 31, 2012

Athletes competing in London are not paid for their participation, but American competitors who come out on top are rewarded in cash by the US Olympic Committee. Of course, the real money is in promotional contracts: Some of the most stellar athletes bring in millions with marketing deals.

Do you know how much the gold, silver, and bronze medalists are given as prizes for being the best? Take the quiz!

Money 2012 Olympics

21 Comments

3023463 41 weeks 2 days

As the medals also have a monetary attachment, they must pay taxes on the money they earn because it is considered income. Just like winning the lottery. The winner does not get the entire amount. Sadly, the government takes its' cut off the top.

3015264 41 weeks 4 days

Yes but they also have to pay the IRS for every medal they've won. For every gold medal, they owe $9,000. At least the $25k is a 'gift' and isn't taxed.

Allie Stallone 41 weeks 5 days

Who knew? That's pretty cool!

tiabia 4 years 38 weeks

I bomb-diggidied!!!!

tiabia 4 years 38 weeks

I bomb-diggidied!!!!

AmberHoney 4 years 39 weeks

Me neither - didn't know they got paid. Lucky them!

Isista 4 years 39 weeks

I didn't even know they got paid lol, so 0/3.

AngelGrl135 4 years 40 weeks

i didn't Olympic athletes got paid. I would have competed had I know. j/k

bluesarahlou 4 years 40 weeks

The only reason I knew the athletes get paid was cause of Joey Cheeks encouraging them to donate some of their bonuses to his Darfur charity...but :woohoo: for my 100%!

bluesarahlou 4 years 40 weeks

The only reason I knew the athletes get paid was cause of Joey Cheeks encouraging them to donate some of their bonuses to his Darfur charity... but :woohoo: for my 100%!

o0Riptide0o 4 years 40 weeks

^ but also alot of the training before they get to the olympics is funded by themselves their level of training is intense and exetremely expensive so the way I see it, its like rembursiment for the money they paid in training

bransugar79 4 years 40 weeks

I think this kind of takes away from the olympic spirit. I mean I know these athletes train hard but it makes me feel kind of icky to think that they aren't just taking part in the sports to be the best they can be. I don't know maybe I'm making to much of it but it cheapens the idea of the Olympics for me

pinky23 4 years 40 weeks

i was way off. but those monetary denominations make sense.

POPSUGAR Entertainment 4 years 40 weeks

wow, I totally didn't know the USOC paid!

soulight 4 years 40 weeks

Yeah Speedo is giving Phelps a million dollar bonus if he breaks the record and gets 8 gold medals. I was kind of expecting more money for winning, but I guess the atheletes should be in it for the glory of winning, not the prize money.

ilanac13 4 years 40 weeks

yay! i got it right. so basically they are saying that michael phelps is in a position to make about $200k at this year's olympics...that's not too bad - and that's completely aside from his current endorsement deals and the ones that will come as a result of the games