Full coverage: 2016 Rio Olympics

Winning medals is a great honor for athletes competing at the Olympic Games. But in addition to taking home a gold, competitors can also be awarded with financial bonuses or sponsorship deals by governments and businesses in their home countries. 

"In our country, a gold medal is 50,000 dollars," said track and field coach from Pakistan.

"We will award 10,000 dollars to gold medal winners, in addition to a house and a car. In our history at the Olympics, we seldomly win medals, so we value them very much," said Joseba Bareda, Director of Venezuelan Olympic Committee.