Olympians give it their best shot when competing for the top prize. The appreciation that follows, after winning a medal, is greater than any of the athletes could imagine. But, along with the verbal acknowledgement, there comes the financial reward that is a life-changer for some. Most countries offer cash bonuses to medalists. Of course, if you get the gold, the more prize money you receive. According to Statista, a gold medalist from Singapore will see the largest cash bonus. Swimmer Joseph Schooling beat Michael Phelps in the 100-meter butterfly meet and became the first athlete from Singapore to win a gold medal. Schooling was the first athlete from that country to receive the $753,000 gold-medal bonus. The U.S. has a $25,000 cash bonus, however, a total of 46 gold medals were earned as of August 26. Australia ties with Canada with a $15,000 bonus payout. Unfortunately, countries such as the U.K. does not offer cash bonuses to medalists. Source
