It 2022 Winter OlympicsIt is currently underway in Beijing more than 200 medalsAt the moment, these medals have been given out to many athletes all over the world.

National pride is what it means to finish on the podium. It is a matter of pride for some, as it means they will receive a cash bonus or open doors to multimillion dollar sponsorship opportunities.

While the International Olympic Committee has no prize money for medalists however, several countries offer financial rewards to their athletes based on the number of medals won at either the Summer Olympics (or Winter Olympics).

CNBC created the following chart based on information gathered from different national Olympic committees as well as sports associations. personal finance site Money Under 30.

Data showed that the U.S. Olympic Committee and Paralympic Committee awards its athletes $37500 for winning a gold medal. $22,500 is for silver, $15,000 goes for bronze. Most of that prize money is not taxable unless athletes report gross income that exceeds $1 million.

American athletes receive additional support including health insurance and access to the best medical facilities.

U.S. sent more than 200 athletesBeijing. Team USA won 7 gold medals so far, with 6 silver and three bronze.

At the 2021 summer games, American athletes took home 39 gold, 41 silver and 33 bronze — racking up the highest medal tally by any country in Tokyo.

The city-state’s first gold medal winning player will be awarded 1 million Singapore dollars ($737,000). The prize money is tax-deductible and recipients must return part of it to the national sport associations for their future training and development.

For a gold medal in Kazakhstan, athletes are paid approximately $250,000. Italy pays about $213,000 and the Philippines about $200,000, while Malaysia is also covered. offers hefty rewards for its athletes. Hong Kong is competing separately with China in the Olympics last year offered 5 million Hong Kong dollars ($641,000) for gold winners.

Many politicians and corporations were pleased to see that India’s Javelin Thrower Neeraj Chpra won the first ever gold medal in track-and field in Tokyo. reportedly announced millions of rupees in monetary rewardFor the athlete.

These countries offer other incentives to winners, in addition to medal bonuses. You can take a look at the following: Filipino weightlifter Hidilyn Diaz won the country’s first Olympic goldAccording to reports, two properties were offered to her last year. free flights for life.

To begin with, clinching a spot on the Olympics team is not an easy feat and athletes dedicate most of their time to training for the games — that makes holding down full-time employment difficult.

Equipment, coaching, access to training facilities, and other expenses can all add up in some sports.

Sportspeople come from more powerful, competitive nations. receive stipends or training grants from their national sports associations, others hold down a variety of jobsCrowdsourcing can be used to fund their Olympic goals.

Winners of international and national tournaments are the top winners.

For example, Shaun White was 7 years old when his first sponsorship for a board came to him. NBC Sports reported. After he won his first Olympic gold medal in 2006, snowboard-manufacturing company Burton signed him on to a 10-year contract and White pocketed an estimated $10 million a year in sponsorships, according to NBC.

Before the 2014 summer games began, Simone Biles, gymnast and U.S. swimmer, was endorsed by millions of people. Forbes reported. Meanwhile, tennis star Naomi Osaka reportedly made $55 million from endorsementsAccording to reports, the female Olympic champion was named after her 12-month tenure.

But scoring lucrative deals is rare, and hardly the norm.

Many Team USA athletes don’t have agents or sponsors. according to a Forbes report.

Disclosure: NBC Sports, NBC Olympics and NBC Sports are owned by NBCUniversal parent CNBC. NBC Olympics owns the U.S. broadcast rights for all Summer and Winter Games until 2032.