Arnold Lifts New Ultimate Record:
Over $2 Million Prize Money at the 35th Sports Festival
138 global payments made in less than 7 days
Incredible distribution speed of prize payouts!
The Arnold Sports Festival recently held its 35th annual professional bodybuilding competition. The Arnold Classic, a prestigious event honoring Arnold Schwarzenegger's legacy, attracts the world's top bodybuilders competing for significant prize money. Historically, paying these winning athletes has been a long, drawn-out process-manual, time-consuming, and with many delays. Payments took months to process, with international athletes needing to be repeatedly contacted to collect international tax identifications, followed by a lengthy tax process at year-end.
This year, the Arnold Sports Festival upgraded its payment process using the Payment Labs platform to automate prize money payouts, contractor payments, and tax withholdings. This innovation allowed over 2 million dollars to be disbursed globally within a week, delighting athletes and creating a better event for all involved. The platform significantly reduced the time and hassle of making payouts, condensing a process that used to take months into just one week. Athletes directed any payment questions to the dedicated support team at Payment Labs, enabling the Arnold Sports Festival team to concentrate on organizing their world-class bodybuilding competitions.
Impact
Benefits
Fast Payments
Automated Taxes
Reporting
Streamlined Process
"Payment Labs has transformed our prize money payouts at the Arnold Sports Festival. The speed of the payouts is incredible—what used to take us months is now completed in record time. This platform has saved us time and hassle, even allowing us to automate our tax compliance. This lets us focus on delivering a world-class body-building competition, making our athletes happy and loyal to our brand."
