Many countries offer monetary rewards to their athletes for the number of medals they win at the Olympics.
The sporting economy in the U.S. allows athletes to better monetize their talents as most of it is driven by the private sector, according to Unmish Parthasarathi, founder and executive director at consulting firm Picture Board Partners.
In places like Singapore, India and elsewhere, many of the national sporting initiatives are driven by governments that sometimes use higher monetary rewards to encourage a growing sporting culture, he told CNBC.Athletes who win gold receive 1 million ringgit , while silver winners are awarded 300,000 ringgit, and 100,000 ringgit is given to athletes who win bronze.
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