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Stunning amount athletes are being paid at Olympics for getting a gold medal

Stunning amount athletes are being paid at Olympics for getting a gold medal

Dozens of countries offer their Olympic athletes big bonuses for taking the top spot

The Olympics is well and truly underway with dozens of medals already secured, but an impressive chunk of gold isn't always the only thing the winners get their hands on.

Japan is currently leading the way in gold medals, with a total of six won since the Olympics began last week. They're followed closely by France, People's Republic of China, Australia, and Republic of Korea, which all have five gold medals at the time of writing (30 July).

Securing a medal is a huge accomplishment in itself, and as a result athletes do not receive any financial rewards from the International Olympic Committee (IOC).

However, at least 33 of the 206 competing countries offer bonuses to the athletes who manage to secure the top spot on the podium, according to Forbes, and 15 of those offer more than $100,000 - meaning it's no small change.

Spain

Spain offers athletes $102,000 for coming in first place, though athletes in team sports receive less depending on the number of people taking part.

Forbes reports that teams of two earn approximately $82,000 for a gold medal, while groups of three or more receive about $54,000 each.

Spain are yet to secure any gold medals. (Clive Rose/Getty Images)
Spain are yet to secure any gold medals. (Clive Rose/Getty Images)

Ukraine

Ukraine is yet to win any gold medals at the Olympics, but any athletes who take the top spot will be awarded a bonus of $125,000.

Italy

Italy currently has two gold medals, for which its athletes will receive a bonus of

$196,000 for.

The country also offers bonuses for silver and bronze medals, amounting to $98,000 and $65,000, respectively.

Nicolo Martinenghi won a gold medal for Italy. (Quinn Rooney/Getty Images)
Nicolo Martinenghi won a gold medal for Italy. (Quinn Rooney/Getty Images)

Hong Kong

Competing independently of China at the games, Hong Kong offers its gold medal-holding athletes the biggest bonus of any country, handing out $768,000 for a gold medal.

It's not surprising that bonuses then continue for second and third place, but the country also offers cash for its athletes in fourth, fifth, sixth, seventh or even eighth place.

Athletes who come in fourth can earn nearly $100,000 - almost as much as Spain offers for a gold medal - while fifth through eighth place earn almost $50,000.

American athletes receive almost $40,000 for gold medals. (Steve Christo - Corbis/Corbis via Getty Images)
American athletes receive almost $40,000 for gold medals. (Steve Christo - Corbis/Corbis via Getty Images)

United States

The US is not one of the countries that offers athletes a bonus higher than $100,000, but winners don't walk away empty handed.

The country has so far secured three gold medals in the games; two in swimming and one in fencing.

They were won by fencer Lee Kiefer, swimmer Torri Huske, and the Men's 4 x 100m Freestyle Relay team; Jack Alexy, Chris Guiliano, Hunter Armstrong, and Caeleb Dressel.

To celebrate their win, each American athlete with a gold medal will receive a bonus of $37,500 from the US Olympic & Paralympic Committee.

Other countries which offer bonuses of more than $100,000:

Israel: $275,000

Serbia: $218,000

Malaysia: $214,000

Lithuania: $182,000

Moldova: $171,000

Latvia: $155,000

Hungary: $154,000

Bulgaria: $139,000

Kosovo: $120,000

Estonia: $109,000

Czech Republic: $103,000

Now all athletes have to do is win those medals... it shouldn't be too hard, right?

Featured Image Credit: Getty/Aric Becker/ISI Photos/Getty/Anadolu

Topics: Olympics, Sport, Money