HealthyWage

What’s HealthyWage?

HealthyWage is a behavioral finance company that uses betting and challenges to assist people exercise more and shed pounds. You essentially wager on yourself and earn money in case you win — i.e. lose the stipulated amount of weight or meet the exercise goal.

How it really works

The positioning has two sides — one for corporate challenges and group challenges; and one for people.

Corporate challenge rules depend upon the sponsoring company. And group challenges vary based on the group’s goals. We’re dealing only with challenges here you could join as a person.

Individuals are in a position to take part in “jackpot challenges,” “step challenges,” or a “HealthyWager.” In all cases, in case you win, you’ll split the pot (minus HealthyWage’s fees) with other winners.

If there are an unusual variety of winners, HealthyWage says it’ll waive its fees to be sure that all winners not less than get their a refund.

HealthyWagers

Those that select to join a “HealthyWager,” are led through a process that asks about your weight reduction goals and the way much you’d bet on yourself monthly. You select what number of months you’re willing to spend to succeed in your weight-loss goal and the way much weight you would like to lose.

Nevertheless, HealthyWagers have some minimum requirements. Specifically:

• HealthyWage requires that you just bet not less than $200 over the betting period
• And that you just spend not less than 6 months attending to and maintaining your goal weight.
• You furthermore may must pledge to lose not less than 10% of your body weight

Jackpot Challenges

With Jackpot Challenges, the burden loss goal and the time involved varies by the competition. So, too, do the bet and jackpot amounts. Each challenge posts its own rules, fees, start and end dates. Generally speaking, these contests range from one month to 3 months and might involve losing from 3% to six% of your total body weight.

Step Challenges

Step Challenges, meanwhile, are all about boosting your activity level. With these challenges, the positioning creates a customized goal for every participant by having you link either a Fitbit or an activity tracker in your smart phone.

HealthyWage will then have a look at the last 45 days of your activity to seek out median exercise level. Your challenge is to spice up that level by 25% throughout the competition.

Commissions and charges

The positioning keeps 25% of the wagers, unless there are a number of winners. In that case, all winners will recuperate their investment. And the positioning’s fee will take the remaining.

HealthWage review

HealthyWage is all about addressing the obesity crisis through behavioral economics. The speculation is that folks will engage in healthy change, in the event that they’re supplied with incentives and support. And that’s what this app is all about.

So it’s not a conventional side hustle. But for somebody who’s attempting a way of life change that involves losing a big amount of weight or increasing the quantity of exercise they get, it might be an efficient and rewarding option to go about it.

When you join, you pay a set amount every month in your “bet.” And also you gain access to the positioning’s weight reduction community through the app and social media. This community supports one another with healthy, low-calorie recipes and emotional support.

Notably, participants are generally obsessed with the positioning, which gets a 4.4 (out of 5) rating on SiteJabber. Indeed, SiteJabber lists HealthWage because the twelfth highest-rated weight reduction app on their site. (It’s also the just one within the dozen that you might potentially receives a commission to make use of. The others require you to pay them.)

Weigh-ins

In the event you take part in a weight reduction challenge, you’ll need two “verified” weigh ins. One at the start of the competition and one at the top. Weigh-ins are video-taped, following a selected process to be sure that nobody cheats. In case your video is unclear or doesn’t follow the formula, you might be asked to submit one other — or have the burden loss verified in one other way.

Those that take part in step challenges might want to keep their activity tracker synced to the HealthyWage site throughout the competition.

Failure to submit weigh-in or tracker data would disqualify you from the competition, without the opportunity of getting a refund.

Risk vs. reward

With large pots, where there are few winners, the jackpots are substantial — amounting to 1000’s of dollars. Nevertheless, modest bets are inclined to generate modest returns.

Using a sample where someone bet just $20 a month and desired to lose the minimum 10% of body weight on a HealthyWager, for example, the positioning estimated that this person’s winnings would add to only $20 over the quantity they bet.

That said, in case you reach your weight reduction goals, the worst you might do is get your a refund.

For somebody who is set to satisfy their weight reduction goals, HealthyWage could also be a fantastic option to get rewarded for doing so. But take note that you just put your personal money in danger, upfront.

So, in case you’re uncertain whether you’ll stick with the weight loss program — and keep the burden off through the weigh-in period — try to be prepared to lose the cash you bet.

While a number of participants say they really bet greater than they comfortably lose to present themselves added incentive to succeed, that’s a dangerous strategy.

…But what if….

What in case you get pregnant during a challenge? The positioning will suspend your challenge, in case you provide proof of pregnancy. After the infant, when your doctor says it’s okay, you may start over or reinstate your challenge.

What in case you need more time? You possibly can buy a further six months by paying those additional months, without changing your goals. But, regardless that you’ll pay more for this challenge, the prizes remain the identical as in the unique challenge.

What in case you get sick? Normally, illness won’t impact a challenge. But when the illness is serious and affects your ability to participate, contact the positioning at [email protected] inside 14 days of the medical diagnosis. try to be prepared to supply formal documentation. What in case you don’t want to supply your medical information? You lose the bet.

What in case you change your mind and judge to not shed pounds? There aren’t any refunds.

Getting paid

In the event you win your HealthyWage challenge, you’ll have the choice of getting paid by PayPal or paper check. There’s a $7 fee to get a paper check and checks often take 3 weeks to process.

PayPal charges about 3%, but makes payments available inside 3 to five business days.

Recommendations

We love this site, regardless that this isn’t a conventional side hustle. The positioning works very similar to DietBet and StepBet, that are also viable options for people attempting to shed pounds by betting on themselves. You possibly can sign up with HealthWage here.

Nevertheless, in case you’re searching for a more traditional side hustle, take a look at our Quiz. It’s going to lead you to 1 or more money-making opportunities based in your interests, skills and resources.

What their users say (from SiteJabber)

I used to be ready. And bet a bit greater than I needed to spend…actually waged my vacation money so if I lost, there could be no Alaska cruise this summer. They set me as much as succeed. I desired to win the cash so I took advantage of all that they had to supply! Joined the Facebook page and fully engaged within the in-app chat support. Learned many recent recipes, ways to remain motivated, and recent habits to shoot for. I’m soooooo comfortable that I FINALLY found something that worked for me! Thanks HealthyWage!

I began my HealthyWager in July 2022, and just won $6,540 on January twelfth of this 12 months! So thankful for the motivation and accountability HealthyWage gave me.

All good

I actually have nothing but positive things to say about my experience with HealthyWage. I attempted to shed pounds for a few years with none long-term success. Betting on myself was the motivation I needed to finally meet my weight reduction goals and make a sustainable lifestyle change. I lost over 90 kilos and won nearly $10,000. The investment I made paid off in so many more ways than one.

I used to be unsure at first whether or not HealthyWage was every part it said it was. But today I’m $5484 richer and 75lbs lighter due to app, and the HealthyWage community. It was price taking a probability on it and I’m the healthiest I’ve been in so long as I can remember.

Lost the burden and healthy wage paid as promised. Thanks for providing the motivation to maintain going.

3/18/2024