Besides gold medals and glory, the money athletes will make at the finish line

All athletes competing at the Rio Olympics are gunning for the gold. With it comes the glory of being the best in the world in that particular event. However, there is a whole lot more that athletes can gain if they win a gold medal for their country.

Athletes receive massive incentives for winning medals during the Olympics, apart from this the bonuses on offer make the games more lucrative.

Several countries such as the UK, US, Germany, Italy offer bonuses for athletes winning gold medals. However, for Rio Olympics Singapore is offering its athletes the largest bonus of $1 million Singapore dollars (US$753,000), according to a report Fox Sports and Statista.com.

Source: Statista

It is followed by Indonesia which offers successful athletes $383,000, Azerbaijan offers $255,000, Kazakhstan $230,000.

In fact, countries such as the US, Germany, Canada and Australia offer much less for athletes who win a gold medal. While the US offers a bonus of $25,000 to its gold winning athletes, Germany is lower at $20,000, followed by Canada and Australia at $15,000.

While Singapore has set such a high bonuses, no athlete has yet won a medal let alone a gold. However, if an athletes from Singapore does win a gold, the win will be even more sweeter.

Currently, the US has the maximum gold medals of 9, followed by China with 8 golds, Hungary and Australia with 4 gold medals each and Russia with 5 gold winners.   

In India the Indian Railways, which has the largest contigent of athletes sent for Rio Olympics, has announced a bouquet of incentives for the Railway players viz promotions ,increments & cash awards.

Prize money with each medal:      

Gold Medal                :           Rs.1 Crore 

Silver Medal               :           Rs.75 Lakh 

Bronze Medal            :           Rs.50 Lakh 

Up to 8th position      :           Rs.30 Lakh 

For participation       :           Rs.5 Lakh