Every Olympic medal comes with global recognition, but not every medal comes with an equal financial reward. While the gold, silver and bronze podiums are universal, what athletes receive beyond the medal itself depends on the country they represent.

At the Winter Olympics, this question often attracts extra curiosity. Winter sports are contested less frequently, involve a smaller overall field, and follow a different competition calendar, leading many to wonder whether the rewards are structured differently from the Summer Olympics. 

With Milano Cortina just around the corner, that question is coming back into focus, particularly around whether Winter Olympians are rewarded in the same way as their Summer counterparts.

Olympic medals don’t automatically come with prize money

A common assumption is that Olympic medals automatically come with prize money. However, the International Olympic Committee doesn’t offer financial reward for winning medals, nor does it set guidelines or recommendations around payments.

Instead, medal bonuses are determined by individual countries. Some choose to reward podium finishes with significant cash incentives, while others offer no direct payment at all. As a result, payouts can range from more than $1 million for a single gold medal to nothing beyond the medal itself.

How medal bonuses work in Australia

In Australia, medal incentive payments apply equally across the Summer and Winter Olympic Games. Athletes who win gold, silver or bronze receive the same medal bonuses, regardless of the season.

Under the Australian Olympic Committee’s Medal Incentive Funding scheme, Australian athletes receive:

• $20,000 for a gold medal
• $15,000 for a silver medal
• $10,000 for a bronze medal

Following commitments made after Tokyo 2020, the Australian Government also confirmed that Paralympians will receive matching medal bonuses for podium finishes, ensuring parity across Olympic and Paralympic competitions.

Are Winter Olympic medals rewarded differently?

With some countries investing less in winter sports and sending smaller teams, it’s fair to question whether medal rewards are handled the same way.

In reality, they’re not. Countries that offer financial rewards for Olympic medals apply the same bonus structure across both the Winter and Summer Games, with payments linked to podium finishes rather than the season. However, several countries choose not to offer medal bonuses at all, and some may surprise you.

Nations such as Great Britain, Norway, Sweden and New Zealand don’t provide any direct financial reward for Olympic medals, regardless of the season. Instead, these countries place greater emphasis on long-term funding models, such as centralised athlete programs, coaching support, and access to facilities, rather than rewarding individual results. The focus is on investing in performance pathways before the Games, helping to reduce financial barriers for athletes and level the playing field.

At the other end of the spectrum, some countries place a much stronger emphasis on rewarding podium finishes, with one country offering AUD $1.15 million for a gold medal. We explored how medal bonuses compare internationally, including which countries offer the highest payouts, in our Paris 2024 breakdown of Olympic medal incentives.

Does equal bonus mean equal opportunity?

While medal bonuses may be applied equally, the path to the Winter Olympics often looks very different to the Summer Games.

For many of Australia’s winter sport athletes, international travel is unavoidable. Competition calendars are concentrated overseas, training camps are often held in Europe or North America, and qualifying events typically require long-haul travel over a short period of time. On top of that, winter sports rely on highly specialised equipment, access to snow and ice facilities, and coaching environments that are limited locally.

At the same time, winter sports in Australia typically operate within smaller funding environments, reflecting lower participation numbers and fewer domestic pathways. Combined, these factors can significantly increase the cost of a Winter Olympic campaign well before an athlete reaches the start line.

So, while medal incentives may be equal on paper, the financial reality of getting to the Games can vary considerably depending on the sport and the season.

What this means for Australian Winter Olympians

For Australian Winter Olympians, medal bonuses are only a small part of the overall picture.

While podium finishes are rewarded equally across the Summer and Winter Games, many of the costs associated with winter sport are incurred long before an athlete ever reaches the Olympics. International competition, training blocks overseas and specialised equipment are often essential just to remain eligible for selection.

As a result, many Australian winter athletes rely on fundraising to support their Olympic campaigns. The Australian Sports Foundation is proud to support the Aspiring Australian Olympian Funding initiative alongside the Australian Olympic Committee, encouraging athletes to fundraise as part of their preparation for the Games and helping to offset the costs associated with elite competition.

You can explore and support our Australian Winter Olympic athletes currently fundraising with the Australian Sports Foundation here.