I have been asked the question, does HealthyWage really work for weight loss, a lot by readers. After a lot of questions, research and digging I have found out some great information to help you decide if HealthyWage is something you want to pursue in your weight loss journey.
WHAT IS HEALTHYWAGE?
HealthyWage is a program that allows you to beat against yourself or participate in group weight loss challenges with the opportunity to win money.
You place a bet based on how much weight you plan to lose within a specific time period. If you lose the weight then you get paid based on your wager.
You have to have achieved and maintained the weight loss at the end of the challenge in order to be paid.
IS HEALTHYWAGE LEGAL?
This is actually a very legal program. The word “bet” is used but you aren't making a bet in the same way you would with traditional gambling.
You actually do have control over the outcome at all times and since it is up to you to lose the weight this isn't considered gambling.
DOES HEALTHYWAGE REALLY WORK FOR LOSE WEIGHT?
There are many things that help motivate people to do different things. Money has been a big motivator as long as it has been around.
If you are already motivated to lose weight and feel like winning extra money would help even more then this might be a good program for you to participate in.
The fear of loss is also another way to look at this program. Personally, I do NOT like losing money. If I place a bet then I will not want to have wasted that money by not losing the weight.
You need to look deep inside to answer the question of does HealthyWage really work for weight loss — for you!
HOW TO I PROVE MY WEIGHT?
You have to “weigh-in” twice during your challenge. At the very beginning to get your starting weight and then at the very end to determine if you reached your goal.
There are two ways to verify your starting and ending weight.
You can download the app and a referee will remotely witness your weigh-in. The other option is to do a short video of yourself weighing and upload it to the website.
This process is simple and only takes minutes.
DO REAL PEOPLE ACTUALLY WIN WITH HEALTHYWAGE?
I have made several members of my Weight Watchers Facebook Group have success with HealthyWage.
They already had a weight loss program in effect and decided to go ahead and bet on their success.
Here is a comment I had from a reader:
“This morning I hit my weight loss goal and won my bet through Healthy Wage. Woo Hoo!!! Guess who's going shopping!!” Kari won $713.00.
I have seen people on my personal Facebook page also post about winning their goal.
This is very doable if you set a reasonable goal weight and don't get too greedy! The problem is when people want to win a LOT of money and set a goal that they just can't feasibly make.
I love looking at the winner's page where you can clearly see how many people are actually winning money and meeting their health goals. If you are asking…does HealthyWage really work? I think the answer is clearly…yes it works…if you do the work!
There is another option besides doing an individual bet. You can join up with different team challenges.
The team challenges are many times shorter challenges that last 2-3 months. They are not all for weight loss. There are also challenges for steps.
The team challenges seem like a good way to get your feet wet with HealthyWage and see how you like it. They are shorter time periods and many challenges only require you to lose 6% of your weight in the time frame allotted.
The best news is that you can combine team challenges with an individual bet so that increases the amount of money you can win.
IS HEALTHYWAGE LEGITIMATE?
The company has been around since 2009. They have been tons of news stories and personal stories from winners to back up their claims.
They also have an A+ rating from the Better Business Bureau.
I believe this is a very legitimate company.
HOW CAN I INCREASE MY WINNINGS?
There is an easy way to increase how much money you win. You can refer friends to the program.
If a friend signs up under your referral link they will get a $40 prize boost and so will you. Obviously, you have both have to reach your goal to get the extra money.
This is not limited to just one friend. You could potentially increase your prize by a LOT of money if you have a lot of friends who want to join HealthyWage.
WOULDN'T HEALTHYWAGE LOSE MONEY?
It seems like if a lot of people are successful with their challenge that the company would eventually start to lose money.
The answer to this is simple. This company is doing just fine. Lots of people have great intentions when they sign up for the program.
We all know how hard weight loss can be especially over an extended period of time. A lot of people fail. Period.
There is no doubt that the company has some math brainiacs with big statistical equations and they know only a certain percentage of people will reach their goal.
The money the people pay in who don't reach their goal will go into the big pot to pay out all the winnings and keep the company fluid.
The time period for the challenges is typically 6 months or longer and that is a long time for people to stick with a specific goal.
HOW MUCH MONEY CAN I WIN?
The most money you can possibly win is $10,000.
The website has what is called a Prize Calculator. You use the calculator to enter specific information and then they will give you a prize amount.
The information required to get a prize calculation is:
- How much weight you want to lose
- How much you want to bet each month
- Over what time period
- Your current weight
- Current height
- Why you want to lose weight
- What you would do with the prize money
I tried it out and said I wanted to bet $50 a month to lose 30 pounds over a 6 month period. The prize amount for this bet for me was $919.91. Remember it will be different for each person based on your weight, height, and answers to other questions.
There is no obligation to trying out the prize calculator. You can enter different weights and amounts and time periods over and over until you get a challenge that is just right for you.
Remember, once you make your bet the prize is guaranteed and cannot be changed.
DON'T FORGET ABOUT TAXES
Don't forget that the amount you win may be subject to taxes based on the IRS rules for winnings/contest prizes.
If your winning amount minus your wager is over $600 then that amount will be reported to the IRS. Remember, you can calculate your prize so that your net proceeds are less than $600 if you don't want to hassle with this issue.
WILL YOU GO FOR IT?
So…what do you think about betting on your own weight loss? If you have more detailed questions be sure to check out the HealthyWage FAQ page for everything you can think of to read about.
So…does HealthyWage really work? The best way to find out is to try it for yourself.
If you decide to create your own challenge or join one be sure to comment and let me know how it goes! I am rooting for YOU!
Be sure to check out these other informative posts about weight loss while you are here:
- 200 Ways to Burn 100 Calories
- Willpower and Weight Loss
- Tips for Sticking to a Diet This Year
- Noom vs Weight Watchers
Don't forget to SHARE this on your social media…maybe your friends will want to join your journey!