With the 2024 Paris Olympics more than half over, there have already been plenty of medals handed out in a variety of events.
Athletes view it as an honor to stand on top of the podium and receive a medal while representing their country. But for some of them, the award also comes with a cash bonus.
Fans like Paul Stone, who is attending the Games in Paris, are okay with the added incentive offered to the athletes.
“I genuinely think that it’s great considering we’ve seen so many of these athletes come out already and say how they’ve taken on a variety of jobs just to keep competing in their sport," he said.
Unfortunately, this has become the reality for many Olympic athletes.
With the pay being so little for the sport, the opportunity for an extra financial incentive for winning can fuel the fire even more within the athletes to win gold.
CNBC recently reported on the wide range of payouts being awarded by different countries to Olympic winners. Hong Kong topped the list, giving its gold medal winners $768, 000, its silver medalists $384,000 and it's bronze medal winners $192,000. In comparison, the United States awards $38,000 to gold medalists, $23,000 to silver medalists, and $15,000 to bronze medal winners.
"I had no idea that it was that much of a difference between countries, I had no idea the gap could be so big,” stated Lily Bower, a resident of France.
The range is no small difference as for some countries this would allow an athlete to be potentially set for life, whereas for others, such as Australia, who awards just $13,000 to its gold medalists, it is merely a bonus.
For 17-year-old diver China Quan Hongchan, the pay means everything. Hongchan won gold at the Tokyo Olympics and picked up yet another gold here in Paris. Her mother was seriously injured in a car accident back in 2017, resulting in the teen taking up diving in order to help pay her moms medical bills.
“I want to make enough money to support her," Hongchan said in a press interview after the win.
The reality of this is heartbreaking for some fans.
“I wish we were more informed about this information, like I don’t understand why these stories aren’t made more public when they are things the audience, or at least I, would like to know," said Olympic fan Tony Locks who was attending an event in Paris.. " It’s stories like these that make the events so meaningful."