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Healthy Wage Review
HealthyWage is an app that offers users a monetary incentive to lose weight. The company has been around since 2009 and has paid over $10 million to its users. Users can place a wager on themselves and will win if they successfully accomplish the weight loss goal that they have set out for themselves. On average, 25% to 40% of HealthyWage’s users successfully achieve their weight loss goals.
- Meet your weight loss goal and win cash – earn at least $106 and up to $351 on a 10-month bet to lost 50lb when you place a starting wager of $100.
- Win up to $10,000 from challenges – users can join team challenges where they will have to work in a team to achieve a collective weight loss goal.
- Low minimum wager amount – the minimum amount you must wager is $100, but you can stand to win more than $350 if you successfully hit your goal.
- Join up to 10 challenges at once – you can win more money by joining multiple challenges at once. These include weight loss and steps challenges.
- Before and after weight verification – 5 options to verify your weight before and after the challenge, such as via video, at the gym, and more.
- All team members must succeed to win – in team challenges, all 5 of your team members must successfuly achieve the target to win the challenge.
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What is HealthyWage?
HealthyWage is a weight loss platform that encourages you to achieve your weight loss goals. There are financial incentives, such as cash prizes, competitions, social motivation and positive peer pressure to help you. You can participate as part of a team or as an individual.
The great thing about this platform is that you can use whatever fitness plan or diet that works for you. The site does not provide these, it simply provides motivation, encouraging healthy weight loss.
Is HealthyWage Safe & Legit?
There are HealthyWage review comments that suggest this platform is basically gambling. But, this is merely scratching the surface. In fact, HealthyWage is a legit platform. They have been operating since 2009.
The aim of the company is not to profit off those who can’t stick with a diet. Most of the money from lost wages actually goes towards paying out on other challenges. HealthyWage also has income from corporate partnerships and sponsorship deals.
According to David Roddenberry, co-founder of the company, the success rate for users is 25 to 40 percent. He also claims that if 100 percent of people met their weight loss goals, the HealthyWage team would be delighted. To date, the company has actually paid out over $10 million.
Another fact in support of HealthyWage’s legitimacy is that you can have complete control of your outcome. There are higher prize payouts for people with larger amounts of weight to lose. But, if you put in the work and stick with your health plan, you can still win some great prizes.
How Does HealthyWage Work?
To participate with the platform, you need to place a bet on your weight loss and compete against others to achieve your goal. If you hit your target, you will win cash, but if you lose you won’t get a share of any winnings.
There are four stages of the HealthyWage process:
Set Your Prize Amount:
The first step of your HealthyWage journey is to set your prize amount. The site has a calculator to determine your weight loss target. It needs to be at least 10% of your starting weight. You will also need to set your bet and timeframe. You can bet $5 to $995 per month, with a timeframe of 6 to 18 months.
To set your goals, you will need to provide your current weight, height and gender. At this stage, HealthyWage will ask for a username and password. You can then see an estimate of the prize amount.
Place Your Bet:
Once you’re happy with the prize amount, you need to place your bet. This requires payment information. You can set whether you want to pay all at once or in monthly installments.
If you want to participate in a team challenge, there are minimum fees:
- Company teams: $25 per month
- Randomly assigned teams: $33 per month
To begin a challenge, you need to verify your weight. The platform requires weight verification both at the start and at the end of each wager.
You can verify your weight with your doctor, at a gym or at a Weight Watchers meeting. If none of these options are possible, you can schedule a free visit with one of the HealthyWage partners. There are no obligations to join.
Another option is to use your scales at home. However, you will need to submit a photo through the app.
Hit Your Weight Loss Goal:
While it may take you up to 18 months, you need to concentrate on hitting your weight loss goal. If you accomplish it, you will win cash. However, if you miss your goal, all your monthly contributions are lost. HealthyWage will use these funds to support the platform and pay out to future winners.
Bear in mind that if you don’t think the cash will be enough incentive to lose the weight, you can join a team. This provides additional support and positive peer pressure.
You can either form your own team of five or join a random team.
How Much Does it Cost to Join HealthyWage?
It is free to join HealthyWage. There is an app that is free to download. However, if you want to participate in a weight loss challenge, you will need to wager at least $5 per month.
How Much You Can Make with HealthyWage?
The largest possible price for a team challenge is a share of a $10,000 prize pot. HealthyWage divides the prize based on team rankings and the mean proportionate weight loss.
If you participate as an individual, your prize will depend on your personal data, wager and other variables. But, once you set a bet, the prize amount won’t change and is guaranteed. The only catch is if you drop out of the challenge, you will still need to pay your wager, but you’ll get nothing in return.
In addition to the individual weight loss bets, there are other ways to make money. HealthyWage has a number of challenges and you can participate in up to 10 challenges at any time.
- $10,000 Team Challenge: This is the most common challenge. You’ll need a team of five and you will compete to lose the largest percentage of weight. There is a top prize of $10,000.
- Jackpot: This is available as a team challenge or individual bet. Money goes into a pot and if you lose 6% of your body weight by the end of the challenge, you can win the pot.
- Step: This allows you to connect your step counter device. You can participate in the step challenge competing as part of a team or individual. You’ll need to achieve a specific goal to earn your share of the prize pot.
HealthyWage Pros & Cons
- Great Social Support: Weight loss can be difficult to accomplish on your own. By including teamwork and competition into the program, it can provide the social support that you need to succeed. It can also make the process more fun.
- Set Your Own Target: You can determine your weight loss target with what you consider a reasonable time frame. You can even specify how much you want to bet each month.
- You Can Participate in Multiple Challenges: There are a variety of challenges on the platform. You can join up to 10 challenges at any time. This allows you to double or triple your chances to maximize the winnings from the same weight loss.
- Limited Income: You’re not likely to replace a full time income from HealthyWage. It is a simple way to provide financial incentives to stick to your weight loss plan. While you can join challenges, you shouldn’t rely on the platform as a side hustle.
- No Cancellations or Refunds: Although challenges may be suspended, there are no cancellations or refunds. So, if you make a commitment for 6 to 18 months, you need to stick to it. If you change your mind halfway through the timescale, you will need to continue paying your monthly fee.
- Working as a Team: Although the team challenges do create the potential to win your share of $10,000, you’re relying on other people to also pull their weight. If some team members drop out, you will struggle to meet the total team goal. So, while you can select a team at random, it is better to create your own team of people who are as dedicated as you.
- No Consolation Prizes: If you miss your goal by even just one pound, you won’t win a cent.
HealthyWage is not the only weight loss website where you can win money. There are similar sites.
DietBet is similar to HealthyWage as it allows you to wager money to incentivize reaching your weight loss goals. You can also work on your own or within a team.
There are also multiple challenges and you can choose the one that is best suited to your weight loss journey.
The main difference is that you can verify your weight with a photo upload. So, you don’t need to arrange a visit to a doctor’s office, Weight Watchers meeting or gym.
Sweatcoin is more about getting paid to get fit. You’ll earn coins for your total daily step count. You don’t need to wager that you will do a certain amount of exercise each day. You simply install the app and carry it with you when you’re out and about.
You can accumulate the coins and then redeem them for physical products, digital items or other rewards. It is even possible to save up your coins for higher value “Marathon” rewards such as iPhones and Samsung televisions.
The rate isn’t particularly high. You’ll earn 0.95 coins for every 1,000 steps. But, you are earning rewards for just being active.
The Achievement platform pays you for maintaining healthy habits. Rather than just focusing on weight loss like HealthyWage, this is about overall health. You can connect your health and fitness apps and devices. This will allow you to earn money for tracking your steps, making healthy food choices, getting the proper amounts of sleep and other habits that are crucial for overall health and wellbeing.
Is HealthyWage Worth It?
If you’re struggling to stick to your diet or fitness plan, HealthyWage can add a financial incentive. You’ll need to make a financial commitment for 6 to 18 months of at least $5 per month. So, you’ll know that even if you quit part way through, you’ll need to continue paying your dues.
This means that you need to be sensible about what you’re prepared to wager. The website calculator will let you know how much you could win and how much you need to lose. This allows you to check over the details before you agree to anything.
HealthyWage can provide the motivation to maintain your weight loss plans and reach your goal.