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Canada and Australia come at the eighth&nbsp;spot. Both countries reward $16,000 and $15,000 to their gold medalists, respectively.

Canada - Australia

Gold: $16,000 - $15,000

Silver: $12,000 - $11,000

Bronze: $8,000 - $7,000

#8 Australia and Canada

The United States of America, who have almost always been on the top of the medals tally, surprisingly some at seventh&nbsp;spot with $37,500 for Gold medalists.&nbsp;

United States of America

Gold: $37,500&nbsp;

Silver: $22,500&nbsp;

Bronze: $15,000

#7 United States of America

Japan and Brazil come next with $45,000 and $49,000, respectively for Gold winners.&nbsp;

Japan - Brazil

Gold: $45,000 - $49,000

Silver: $18,000 - $29,000

Bronze: $9,000 - $20,000&nbsp;

#6 Japan and Brazil

The Indian Olympic Association (IOA) has set cash prizes of Rs 75 lakh ($100,000 - approx.) for gold medalists and Rs 40 lakh and Rs 25 lakh for silver and bronze respectively. However, the state governments announced additional cash benefits to motivate&nbsp;their athletes to medals at Tokyo Olympics.&nbsp;

India (based on IOC)

Gold: INR 7,500,000 ($100,834)

Silver: INR 4,000,000 ($53,778)

Bronze: INR 2,500,000 ($33,611)

#5 India

Hungary comes in at fourth with a cash prize of&nbsp;$168,000 for gold winners.&nbsp;

Hungary:&nbsp;

Gold: $168,000

Silver: $126,000

Bronze: $96,000

&nbsp;

#4 Hungary

Italy and Malaysia come at the third spot.&nbsp;

Malaysia - Italy&nbsp;

Gold: $236,000 - $213,000&nbsp;

Silver: $71,000 - $107,000

Bronze: $24,000 - $71,000

#3 Italy and Malaysia

Kazakhstan, surprisingly, comes at a second spot. Their athletes will get a whopping $250,000 if they win a gold medal for the country.&nbsp;

Kazakhstan

Gold: $250,000

Silver: $150,000

Bronze: $75,000

#2 Kazakhstan

If you are an athlete from Singapore, and you represent your country then you have chance to win a mind-boggling $737,000 if you win gold in an Olympics.&nbsp;

Singapore:&nbsp;

Gold: $737,000&nbsp;

Silver: $369,000

Bronze: $184,000&nbsp;

#1 Singapore

India among countries with highest cash-rewards for Olympic medalists - Check out the complete list

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About the Author

Amartya Sharma

Amartya Sharma

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