Bet on Your Weight Loss to Win Cash with New App

Written By Jeff Hindenach
Last updated March 14, 2019

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Money Saving Tips
February 14, 2019

Simple. Thrifty. Living.

Would you like more money and fewer pounds? If so, the innovative HealthyWage program may be right for you. The concept is simple. You download the app and gamble a certain amount of money that you can take off a certain amount of weight. If you lose the poundage you pledge to lose, you win cash.

HealthyWage Review

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  • Best for: People who feel they’re capable of losing weight in a safe and consistent manner — and are willing to bet on it. You can sign up for HealthyWage here.
  • Price: Your monthly payment amounts, which you choose, will range from $5 to $995.
  • Length of Payments: Payment durations range from six to 18 months.
  • Prize amount: Prize amounts go up to $10,000, minus the total cost of your payments.
  • Criteria: Anyone who’s willing to lose at least 10 percent of his or her body weight can join.

1. Download the free mobile app

On the app, you’ll fill out your account information. You’ll need to supply such personal statistics as your weight and height.

2. Select amount of weight to lose

It must be between 10 and 150 pounds, and it has to equal at least 10 percent of your current weight.
You also have to figure out how long it’ll take you to drop those pounds. It must be at least six months and no longer than 18 months.

3. Choose your wager

The minimum is a mere $5 per month, while the monthly maximum is $995. Each payment will be charged to your credit card.

If you win the prize money, it will include the total of your payments. In other words, if your jackpot is $1,000, and you spend $500 in payments, you’ll actually win $500. The other $500 will be a reimbursement.

How much will your potential earnings be? Well, HealthyWage’s algorithm will take all of your statistics and come up with a number. It’s unclear exactly how the program arrives at a figure, but it considers a range of factors, including body measurements and payment sizes.

Before you lock in your wager, you can experiment with different payment amounts and time frames to see how they affect the size of your prize. Currently, the largest possible award is $10,000.

What’s more, you can add $40 to your winnings for every person you successfully refer to the program.

4. Verify your weight

You can do so in more than one way:

  • You could film yourself stepping on a scale. You could use the app to take that video, or you could upload a video to the HealthyWage website.
  • You could have a Weight Watchers professional, healthcare provider, personal trainer or gym employee confirm your weight.

Upon verification, the terms of your bet will be official, and you can embark on your weight loss journey.

Note that you’ll have to tell the app your weight each week. That’s just to ensure you don’t lose weight at a potentially harmful rate.

At the end of your wager period, you’ll have a two-week stretch during which to verify your new weight. In addition to choosing one of the verification methods mentioned above, you’ll have to scan your driver’s license and send before and after photos.

If you’ve lost enough weight, you’ll receive a check within a few weeks. If you’d rather, for a fee of 3 percent, you could get a PayPal payout within 3 to 5 business days.

On the other hand, if you don’t quite reach your weight loss goal in time, you’ll simply lose however much you’ve spent in monthly payments to HealthyWage.

If it’s any consolation, you can remind yourself that those payments helped fund the weight loss goals of others. And you can take pride in however much progress you’ve made toward your nutrition and exercise objectives.

Another option is to join a HealthyWage team. A group of at least five people can pool their money and their lost pounds. Thus, if one or two people don’t quite hit their individual targets, the others might lose enough extra weight to compensate. That way, the team can collectively collect their cash.

Since it debuted in 2009, HealthyWage has been garnering enthusiastic reviews from customers. The program is reliable and completely legal.

As you might imagine, some users had never before found sufficient motivation for losing weight. But since HealthyWage lets people set an immediate goal and adds the prospect of a cash prize, weight loss plans can become more concrete and beneficial.

What’s more, HealthyWage doesn’t leave you on your own as you begin losing weight. Instead, the app connects you to a supportive community of individuals who are in the same situation. You’ll find plenty of pointers that people have posted, and you can discover recipes for well-balanced meals.

Obviously, you shouldn’t sign up for HealthyWage if you can’t afford the payments. Furthermore, you should have a basic, reasonable meal and exercise plan ready to go, one that you’d be willing to stick to. Crash diets, fasts and overexercising can all be dangerous and must be avoided.

If you feel you might be tempted to engage in any risky behaviors to obtain the prize, you ought to stay away from the app.

Otherwise, though, HealthyWage can take a typical weight loss program and add lots of fun and excitement. You’ll probably find that the rigorous exercise routine and healthy eating habits you adopt due to HealthyWage are the most rewarding parts.

About the Author

Jeff Hindenach

Jeff Hindenach is the co-founder of Simple. Thrifty. Living. He graduated from Bowling Green State University with a Bachelor's Degree in Journalism. He has a long history of financial journalism, with a background writing for newspapers such as the San Jose Mercury News and San Francisco Examiner, as well as writing on personal finance for The Huffington Post, New York Times, Business Insider, CNBC, Newsday and The Street. He believes in giving readers the tools they need to get out of debt.

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