Millions around the globe have been tuning in to watch 10,714 athletes from 206 countries as they battle it out for gold.
However, unfortunately, not everyone will be able to bring the medal home including the likes of one British Olympian who was convinced he’d been wrongly denied gold before realising the 'excruciating' reality of the situation at hand.
Matt Richards has since opened up about the positives despite missing out on the award by a painful 0.02 seconds from lane one in the 200m freestyle.
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Now, it was all looking good for the 21-year-old swimmer when he found himself ahead of the group and appeared just in front of his competitors at the final crucial moment.
However, this pending victory was snatched quite literally at the very last millisecond.
After finishing the race and coming above the water's surface, Richards was shocked to find he finished 0.02 seconds behind Romania’s David Popovici.
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A BBC commentator even claimed it ‘looked as if’ the Brit had touched the wall first.
He has since shared his verdict on the results, telling BBC Sport: "I thought I had got it, it felt as if I had touched it first. The time says differently.
"It is not a sport that is up for debate, it is black and white. It wasn’t my best finish, I would be lying if I said it was fantastic. We move on, we get better and try to get it next time."
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Despite the 'excruciatingly frustrating' finish, the swimmer said he 'can't be too disappointed' after receiving his very first Olympic individual medal and second overall following gold in the 4x200m relay at Tokyo 2020.
The athlete continued: "I can’t be too disappointed with that. My first individual at an Olympic games so to come away with a silver is great.
"To be two one hundredths off gold is excruciatingly frustrating. But look, if anything it has added more fire to my belly."
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But it's not all doom and gloom for Richards as he's got another shot at cinching the gold medal during the men's 100m freestyle.
He assured fans: "I’ve got a lot more to come this week, the 100m is tomorrow, the 4x100m is tomorrow too. It fuels me on for the rest of the week.
"Gutted for Duncan [Scott], myself and him in second and fourth, just missing out on the medal he deserves it more than anyone - that bodes really well for our 4x200m."
Team GB's current medal count - 10
Gold medallists
- Rosalind Canter, Laura Collett, Tom McEwen: Equestrian - Eventing team
- Tom Pidcock: Mountain Bike - Men's cross country
Silver medallists
- Anna Henderson: Cycling - Women's individual time trial
- Adam Peaty: Swimming - Men's 100m breaststroke
- Tom Daley and Noah Williams: Diving - Men's synchronised 10m platform
- Adam Burgess: Canoe Slalom - Men's canoe single
- Matthew Richards: Swimming - Men's 200m freestyle
Bronze medallists
- Yasmin Harper and Scarlett Mew Jensen: Diving - Women's synchronised 3m springboard
- Kimberley Woods: Canoe - Women's slalom
- Laura Collett: Equestrian - Eventing individual
Rhiannon Ingle