Do tennis players receive cash prizes at the Olympics?

The Olympics are the biggest sporting event in the world, as athletes from all countries look forward to representing their country at the highest sporting level every four years. While such a task surely comes with a sense of pride and honor, does it come with a monetary benefit? Do these players receive monetary compensation for their efforts?

The International Olympic Committee does not reward athletes at the Olympic Games for winning a medal. The same rule also applies to tennis players, who receive large sums of money at their major events.

Olympic Games cash prizes for tennis players

There are no cash prizes for tennis players or any other athlete at the Olympics. The IOC does not pay any form of remuneration to athletes who win a medal. However, the respective countries that the athletes represent organize special bonuses for them. Nations reward their athletes for winning a medal or simply competing in the Olympics with a big cash prize.

The prize money for major events, such as the four Grand Slam events, is much higher than any other event. Players are paid to participate in these events, the price of which is greater than any cash award given by a country to its athletes.

At the Rio 2016 Olympic Games, several countries rewarded their athletes with a considerable sum. However, there was a significant disparity across the board. Andy Murray did not receive any cash awards from his country for his gold in men’s singles. Singaporean swimmer Joseph Schooling, meanwhile, received £ 580,000 from his country, winning gold in the 100m butterfly.

The withdrawal of players from the Rio 2016 Olympic Games

Several players withdrew from the Rio 2016 Olympics because they didn’t like the no-money, no-ranking ranking system. Ernests Gulbis is the man who stepped forward and expressed his displeasure with the system. He, along with big names like Dominic Thiem, Kevin Anderson, John Isner, Bernard Tomic and Feliciano Lopez, had pulled out of the event.

“I really don’t like that at the Olympics there are no points and no prize money. It’s a bit like tennis tourism, on my side“Gulbis said in an interview with The New York Times.

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Athletes who have a definite chance of winning a medal don’t care about the money or the ranking system. However, the lower ranked players need some form of motivation to perform at the big event.

The Tokyo Olympics will kick off on Friday July 23. Novak Djokovic and Ashleigh Barty are the favorites to win the men’s and women’s singles respectively.