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Olympic Medalists Cash Prizes

Olympic Medalist Cash Prizes: How Money Are You?

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!

Olympic Medalist Cash Prizes: How Money Are You?

How much does the USOC give to US gold medalists?

3023463 3023463 5 years
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 3015264 5 years
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 Allie-Stallone 5 years
Who knew? That's pretty cool!
tiabia tiabia 9 years
I bomb-diggidied!!!!
AmberHoney AmberHoney 9 years
Me neither - didn't know they got paid. Lucky them!
Isista Isista 9 years
I didn't even know they got paid lol, so 0/3.
AngelGrl135 AngelGrl135 9 years
i didn't Olympic athletes got paid. I would have competed had I know. j/k
bluesarahlou bluesarahlou 9 years
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 o0Riptide0o 9 years
^ 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 bransugar79 9 years
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 pinky23 9 years
i was way off. but those monetary denominations make sense.
Entertainment Entertainment 9 years
wow, I totally didn't know the USOC paid!
soulight soulight 9 years
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 ilanac13 9 years
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
JenBrett JenBrett 9 years
Phelps gets $1 million if he breaks the medal record
mondaymoos mondaymoos 9 years
Whoohoo! Platinum bitches!
mondaymoos mondaymoos 9 years
Hm. Less than I expected. 1/3
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