The International Olympic Committee does not give prize money, but many countries rewards their athletes with a bonus. In USA, the athletes earned around R500 000 for a gold medal, R270 000 for a silver medal and around R18000 for silver. If in a team sport, for example the Blitzbokke, the prize money get split equally amoungst the entire squad.
Each country has their own amount which they award athletes for their achievements. Singapore awarded their athletes with a $1 million prize for a gold medal at the Winter Olympics held earlier this year.
Back home, in SA, we rewards our athletes with cash a bonus around R200 000 for gold, R80 000 for silver, and R50 000 for bronze. This prize is normally split between athlete and coach in terms of an agreement.
Below is a indication of what the various countries paid their athletes for medals in the 2018 Commonwealth Games:
Dollar/Rand rate – is R12.
| Ranking | Country | Gold Medal | Silver Medal | Bronze Medal |
| 1 | Australia | $60,000 | $25,000 | $10,000 |
| 2 | Canada | $50,000 | $25,000 | $10,000 |
| 3 | India | $35,000 | $18,000 | $7,600 |
| 4 | Scotland | $30,000 | $15,000 | $7,000 |
| 5 | England | $30,000 | $15,000 | $7,000 |
| 6 | Malaysia | $20,000 | $9,000 | $5,000 |
| 7 | Jamaica | $20,000 | $9,000 | $5,000 |
| 8 | Cyprus | $15,000 | $6,500 | $3,500 |
| 9 | South Africa | $15,000 | $6,500 | $3,500 |
| 10 | New Zealand | $15,000 | $6,500 | $3,500 |
| 11 | Kenya | $10,000 | $5,000 | $3,000 |
| 12 | Bangladesh | $10,000 | $5,000 | $3,000 |
| 13 | Cameroon | $10,000 | $5,000 | $3,000 |
| 14 | Nigeria | $8,000 | $4,000 | $2,500 |
| 15 | Singapore | $8,000 | $4,000 | $2,500 |
| 16 | Wales | $8,000 | $4,000 | $2,500 |
| 17 | Trinidad and Tobago | $6,000 | $2,500 | $1000 |
| 18 | Papua New Guinea | $6,000 | $2,500 | $1000 |
| 19 | Northern Ireland | $6,000 | $2,500 | $1000 |
| 20 | Uganda | $6,000 | $2,500 | $1000 |
SOURCE: https://www.forbes.com/sites/sportsmoney/