Canada and Australia come at the eighth 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
#7 United States of America
The United States of America, who have almost always been on the top of the medals tally, surprisingly some at seventh spot with $37,500 for Gold medalists.
United States of America
#6 Japan and Brazil
Japan and Brazil come next with $45,000 and $49,000, respectively for Gold winners.
Japan - Brazil
Gold: $45,000 - $49,000
Silver: $18,000 - $29,000
Bronze: $9,000 - $20,000
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 their athletes to medals at Tokyo Olympics.
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)
Hungary comes in at fourth with a cash prize of $168,000 for gold winners.
#3 Italy and Malaysia
Italy and Malaysia come at the third spot.
Malaysia - Italy
Gold: $236,000 - $213,000
Silver: $71,000 - $107,000
Bronze: $24,000 - $71,000
Kazakhstan, surprisingly, comes at a second spot. Their athletes will get a whopping $250,000 if they win a gold medal for the country.
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.