According to Mongolian law, athletes who have won medals from the Olympics and major international and regional sporting events are entitled  to receive a cash prize. In recent years, however, monetary awards for athletes and coaches has stopped. Last year, in total 2069 athletes and coaches in 13 sports categories met the requirements of monetary awards – but received nothing. Subsequently, the Mongolian Government must  pay them MNT1.7 billion owed. The Cabinet, therefore, has decided  that this amount should be reflected in the Mongolian State Budget Clarifications.

The first monetary awards for athletes were issued in 1997 by Decree No.252, and then were renewed in the recent years.  According to a presidential decree, each athlete who wins a gold medal in the Olympics will be awarded 4 million MNT per month for their lifetimes, while silver medalists will receive 3 million MNT, and bronze medalists will receive 2 million MNT per month. Athletes who win gold medals in World Championships, with the same weight or distance category as the Olympics, will receive 2 million MNT every month for their lifetime, while athletes who win silver will receive 1 million MNT, and bronze medalists will get 500,000 MNT per month.