HealthyWage is a company that offers you the chance to earn extra money through cash prizes by achieving your weight loss goal. It may seem too good to be true, but this company does actually pay money prizes for people who complete weight loss challenges.
However, there is more to the story than signing up, working out, and collecting cash. To participate in a challenge, you need to bet an amount of money on a monthly basis. This helps build a pool of money that you can partly or fully win if you successfully complete the challenge.
In this HealthyWage review, you'll learn the ins and outs of how HealthyWage works, how you can benefit from using it, and what you need to know before deciding whether or not to give it a try.
- HealthyWage provides a platform where individuals can participate in weight loss challenges, either individually or as part of a team.
- You can earn money by reaching your weight loss goals within a specified timeframe.
- Challenges can be customized based on individual goals and preferences, including the length of the challenge, the weight loss goal, and the amount of money to be earned.
- Challenges require you to bet your cash on your ability to achieve your goal. HealthyWage uses a monthly wager system to build its prize pools.
You could get paid to reach your weight-loss goal.
- Complements other diet plans by adding fun and accountability
- Research shows financial incentives can boost weight loss
- Get a chance to win up to $10,000 if you meet your goal
HealthyWage: Is it worth it?
|Our verdict: HealthyWage is a legit company that offers financial incentives for weight loss goals. You can win real cash by creating your own challenge or participating in existing challenges. However, you need to wager your own money to do so, meaning that you may lose money if you don’t successfully complete a challenge.
Is HealthyWage Legit?
HealthyWage is a legitimate company that pays out cash prizes to people who win weight loss challenges. The idea of earning money for losing weight may sound like a scam or seem too good to be true. That's why HealthyWage's website contains many testimonials and videos that feature happy customers.
HealthyWage LLC was formed in New York, NY, in 2009 by David Roddenberry and Jimmy Fleming. The company has an A+ rating on the Better Business Bureau (BBB) and an average score of 4.65 stars out of 5 across 52 customer reviews. It's worth noting that the company is not accredited by the BBB.
What does HealthyWage offer?
HealthyWage is all about helping people lose weight by betting on themselves. it developed a program where participants commit a set amount of money monthly as they complete a weight loss challenge. If you reach or surpass the goal you set at the beginning of the challenge, you will get all of the money you “bet” and additional winnings.
According to the HealthyWage website, the company pays prizes up to $10,000. However, some prizes are smaller. In our experience, we found $1,000, $3,000, and $7,000 prizes. The company also has jackpot challenges where you may win a portion of a large jackpot by achieving specific weight loss goals.
For example, one jackpot was $22,125, and people could win a portion of this jackpot by achieving a 4% weight loss or more. The size of the prize depends on the number of participants. In this jackpot challenge, several people won around $50 to $60. The company states that it paid about $10 million in the past 12 months.
What is HealthyWage based on?
This concept of HealthyWage is based on research done by Harvard, the Mayo Clinic, the University of Pennsylvania, and other academic institutions. This research found that people are more likely to lose weight and keep it off when there is some kind of financial incentive and when they invest their own money into the process.
HealthyWage blends this research with the successes of company-based weight loss challenges and the influence of social networks on behavior to create its programs.
Keep in mind that HealthyWage has a no-refund policy and will not cancel a challenge once it has started. This is one of the company's revenue streams. However, it also makes money from private clients in the corporate and government sectors, as well as from administrative fees from some types of challenges.
Participate in a weight loss challenge for a chance to win up to $10,000 if you meet your goal.
How does HealthyWage work?
HealthyWage offers several types of challenges that you can choose to participate in. For each, you commit to paying a set amount of money, set a weight loss goal and timeframe, then move ahead with the challenge.
If you attain or exceed that goal by the end of the challenge, you win the amount promised at the beginning, or, in the case of a team, jackpot, or step challenge, split a pot of money among all the winners. Here is a closer look at each challenge to see how it works.
This is an individual challenge where you can win up to $10,000 in prize money if you meet your weight loss goal. Begin by visiting the HealthyWage website and choose to get started.
This will allow you to play with different parameters, such as pounds to lose, timeframe, and amount of money you pay monthly, to see what kind of money you could win.
You can then provide personal information such as age, gender, and current weight. The algorithm uses this information to calculate the final reward for reaching the weight loss goal and estimate the return on investment.
To start your new challenge, you’ll be asked to provide a video weigh-in, which can be done in the HealthyWage mobile app, which is available for Android and iOS devices. You can also upload a verification video through the website.
You’ll have to do this again at the end of the challenge. This is to verify that you have the correct starting and ending body weight. There are no other check-ins, but you’re encouraged to take advantage of the social tools and education offered through the program.
After you’ve reached your goal, you are awarded HW Points, which are worth $1 each. You can cash your points out via PayPal or by check. These points may expire after 12 months of inactivity, so make sure you cash them in promptly.
The $10,000 team challenge
With this type of challenge, you sign up with a team of five or ask to be placed in a team of random people. The challenge takes place over three months, and there is a registration fee of $25 per month if you’re participating through a company or $33 a month if you’re entering on your own.
The top three teams that lose the greatest percentage of weight at the final weigh-in are the winners. The first team wins $10,000 in cash prizes (in the form of HW Points), the second team wins $5,000, and the third team wins $3,000. HealthyWage also gives out $2,000 in additional prizes.
Team members who lose 10% of their starting weight within 6 months of the end of the challenge can apply to get their entry fee reimbursed.
If you want to lose at least 6% of your total weight, consider entering a jackpot challenge. There are several jackpot challenges available at any given time. Every person who signs up for a jackpot challenge is put on a team and commits to a set amount that will be pooled throughout the challenge.
When the challenge is over, the pot of money is divided evenly among the teams who met the goal — after HealthyWage collects a 25% administration fee — in the form of HW Points. If more than 75% of the participants meet their goal, all those who succeed will at least get back the money they invested.
HealthyWage generally has two options for its step challenges. You can opt to reach one million steps in 100 days or 300,000 steps in 30 days - both average out to be 10,000 steps per day.
These challenges are done in teams where the entry fees are pooled, and everyone who reaches the goal gets an equal share of the money in HW Points, minus the 25% administration fee.
There is also a type of step challenge for individuals who aim to increase their average daily step count by 25%. There are no teams for this one, so every participant who reaches the goal gets an even cut of the money pool after the administrative fee.
Step challenges use your Fitbit or smartphone and the HealthyWage app to track your progress.
Build your own weight loss challenge
This is for small businesses, families, communities, and other groups that want to create a fitness challenge to get healthy. The program works like the jackpot challenges, where you pay an entry fee, and the goal is to lose 6% of your starting weight over 12 weeks.
People can sign up as teams or individuals, and the pot is split evenly among all the winners — less the administrative fee.
HealthyWage also offers custom programs for large organizations, such as corporations, schools, governments, hospitals, and more. And you may even be able to get a free registration based on the referral of your employer.
Who is HealthyWage right for?
HealthyWage challenges are best for someone who is serious about losing weight and has some money to invest in the effort. The challenges can support a healthy lifestyle by providing cash rewards.
HealthyWage is also good for people who like competition and for whom having some money at stake will be an added motivator. If you’re not particularly goal-oriented or competitive, this program isn’t a great fit.
But if you've struggled with dieting or weight gain and haven't found other weight loss journeys to be inspiring, you might consider giving HealthyWage a try.
Using the HealthyWage program can help keep you on track and reward you with some motivating cash once you reach your goal weight. As far as ways to make money, this one could stack up well with your existing wellness or fitness plan.
How much can you earn with HealthyWage?
The most you can win from a single challenge you participate in is $10,000. Team challenges may have a higher prize amount, but the most any single person can win at the end of the challenge is $10,000.
You can participate in up to 10 challenges at one time, which can multiply your winnings if you meet their goals. Your actual earnings will depend on the money you wager, the goals you set, the challenge length, and how the prize is split.
Example of previous prizes
One success story is when Jennifer D. lost 102 pounds over the course of 10 months and won $4,181 from HealthyWage. Glenn S. also lost the same amount of weight in the same timeframe and walked away with $1,383.
The reason behind the difference is that Jennifer bet $150 per month for a total of $1,500. Glenn made a weight loss bet of $40 per month for a total of $400.
If you meet your goal, you can choose to be paid through PayPal or via check. If you choose PayPal, you will get your money within two to five business days.
If you choose to be paid by check, you should receive it within one to three weeks after requesting a payout. HealthyWage charges a $7 fee for sending checks.
Maximizing your earnings with HealthyWage
Stacking challenges is a great way to maximize your earnings. HealthyWage allows you to participate in up to 10 challenges at a time (with some restrictions).
If you start with a HealthyWager challenge and a goal of losing at least 6% of your starting weight, you can also sign up for a jackpot or team challenge, as well as a step challenge. The work you do to earn your HealthyWager prize can also count toward winning on the other challenges.
Another way to earn more is to refer friends and family. Each one that signs up earns you an additional $40.
FAQs about HealthyWage
How does HealthyWage make money?
HealthyWage makes money from fees from challenges where the participant didn’t reach their goal, administrative fees from some challenges, and custom programs the HealthyWage team develops for corporate and government clients.
How does HealthyWage verify weight?
HealthyWage verifies weight through what it calls weigh-ins and weight-outs. When you participate in a HealthyWage challenge, you're required to have your weight verified at the beginning and end of the challenge by submitting a video weigh-in and weigh-out.
In a video weigh, you step on a scale to show your weight. The video must meet certain criteria, such as showing a zeroed-out scale and your full body, by using a mirror, for example.
Does HealthyWage really pay out?
Yes. HealthyWage has a track record of paying out its participants. The company paid out over $10 million to people who have reached their weight loss goal in the past 12 months.
It's important to note that not all participants will win, as the prize money is awarded based on the results of the challenge. However, HealthyWage has a large and satisfied customer base, and many people successfully received their prize cash after meeting their weight loss goals.
Can I cancel HealthyWage?
No. HealthyWage offers no cancellations or refunds. If you become pregnant during a challenge, the company will suspend your challenge until you are medically cleared to continue.
How to get started with HealthyWage
Getting started is very easy. You can get the HealthyWage app on your Android or iOS smartphone and start your registration and prize calculation there.
You can also visit HealthyWage.com to sign up. How much you’ll pay is entirely up to you, depending on what challenges you want to participate in and what the requirements are.
Other side hustles to consider
As fun as it sounds to make a HealthyWage bet, making money by losing weight isn’t exactly a sustainable side hustle, and there is no guarantee that you’ll be paid for all your hard work. So if you’re looking at how to make money over the longer term, you should look at our list of the best side hustles.
For example, pet sitting and doggy daycare services are in high demand, making them a great option for a side hustle. If you love furry friends, you can explore this side hustle with Rover or Care.com.
Get more information in our Rover review.
Or if you enjoy house projects, whether they be cleaning, painting, mowing lawns, or minor home repairs, you could put your skills to work and earn extra money on a platform like HomeAdvisor Pro.
Learn more in our HomeAdvisor Pro review.
- A chance to win up to $10,000 if you meet your weight loss goal
- Participate in weight loss challenges individually or with a group
- Complements other diet plans by adding fun and accountability
- Academic research shows financial incentives can boost weight loss