More people than ever are seeking ways to reverse the negative effects from our increasingly sedentary lives. But dieting often seems like punishment. And because of that a large percentage of those who set out on a diet never see it through.
But what if weight loss could be fun? And not only that, what if it could be profitable too? Would you be more inclined to stick to your weight loss goals if there was a financial reward at the finish line?
For a lot of people who have discovered Healthy Wage, the answer is “yes.” But are these folks kidding themselves? Or is Healthy Wage actually legit? Stay tuned for the answer.
What is Healthy Wage?
Healthywage.com is a website whose premise is this: if people have a financial incentive to lose weight, they’re more likely to see their diet through. It’s designed to put a bit of wind in your motivational sails and to be fun at the same time.
The people who run the site point to actors who are constantly losing weight and pumping up for roles they’re contracted to play as proof the financial incentive idea works. And while you’re not going to make the kind of money a Hollywood A-lister makes for getting in shape, the idea is the same. You lose weight. We pay you.
What Does Healthy Wage Do?
What Healthy Wage does is it allows you to bet on yourself. You place a wager that says you will lose “X” amount of weight in “X” amount of time. The website then calculates the odds that you’ll meet that target, with a number of personal factors taken into account like age and starting weight.
They them come back to you with an offer: if you lose that much weight in that much time, we will pay you this much money.
Sounds pretty good, doesn’t it? And it is. But there’s a catch. (Somehow you knew there was.) The catch is that, as with all betting, you need to place a bet. That means you need to transfer money to them to cover your end of the wager.
If you don’t meet your weight loss goal, they keep your money. So you now have 2 incentives for meeting your weight loss goal. One is to win the money and the other is not to lose the money you put up. Of course, there’s also the other incentive of losing the weight which, after all, is the most important thing.
Does Healthy Wage Work?
Healthy Wage works for a lot of people who respond to the financial component. And from what we can surmise from talking to people who have used the site, the more they put down, the better it works. And we’ll explain why.
Let’s say someone wagers $500 that they’ll lose 50 pounds over 6 months. While the potential payout might only be $550 (with $500 of that being their wager returned to them), the thought of losing $500 is what actually drives people to succeed—not winning the extra $50.
However, if people put up, say, $50 with a chance to win an additional $10, they’ll often revert to their old ways and fail to meet their weight loss goals. Because, hey, it’s only 50 bucks.
Who Can Use Healthy Wage?
Anyone with an internet connection, a valid credit card or Paypal account, and a willingness to wager on themselves can use Healthy Wage. But Healthy Wage isn’t limited to individuals. They also have programs designed to challenge companies eager to find ways to help their employees get in shape.
From what we can gather, this seems to be a legit company that’s on pretty sound footing. It’s also not the only website out there that offers a financial payout for those who lose weight. Their main competitor is Diet Bet. Diet Bet, however, doesn’t offer an individual component. Everything is done as part of a team and winners split the proceeds.
“All weight loss takes is desire and will.” – Richard Simmons
Benefits of Using Healthy Wage
The potential benefits of HealthyWage aren’t hard to discern. They are:
- Added motivation to lose weight – The entire goal, after all, the reason a person engages with this type of site to begin with, is that they want to lose weight. The likely have been having a difficult time doing that using other methods and so now they’re willing to try anything. This includes putting their own money on the line as an incentive.
If they lose weight, they win—no matter how much money is involved. That is, without a doubt, the biggest potential benefit.
- Winning money – If you have your priorities in order, then losing weight should be at the top of the list but right after that should come the financial reward for doing so. Everyone loves to win money. There would be something wrong if they didn’t and Healthy Wage provides them a way to do so and to get in shape at the same time. That’s called a “win-win” situation. If you win, of course.
- A proven model – Health wage claims that more than 3/4 of the people who use the site to wager on themselves win their bets. That means two things:
- The odds of your wager paying off are quite good – Much better than if you wagered on anything at a casino or on an internet gambling site.
- Their model works – If 3/4 of the people who use this website are winning, then there’s something to the notion that people try harder when there’s money on the line.
Is it Safe to Use?
Our research indicates there are no security issues involved with using this website. The biggest risk involved is that you won’t hold up your end of the bargain and you’ll lose your money.
While payouts aren’t exactly instantaneous, checks take up to a month to reach you by mail and electronic payments may take 3 or 4 business days, you’re sure to receive them.
You’re also under no obligation to actually place a wager. You’re free to use the calculator on the website to find out how much you could potentially win without actually having to follow through with a bet. Be aware, however, that if you do bet and you do win that there are service fees involved. Paypal, for instance, will deduct a 3% fee.
How Much is Healthy Wage?
How much Healthy Wage will cost depends on how much you’re willing to wager on yourself. If you make a conservative wager (say, you give yourself 6 months to lose 10 pounds) your potential winnings are going to be pretty insignificant even if you put up quite a bit of money.
To find out exactly what your potential winnings are, you’d have to go to the website and use their wager calculator.
How is it Different from Other Products?
As we mentioned earlier, Healthy Wage differs from its only serious competitor, Diet Bet, in that it offers individuals a chance to wager on themselves whereas Diet Bet requires you to be part of a team challenge. The potential financial payout from wagering on yourself is also several times greater than if you are constrained to participating as part of a team.
By almost all accounts, Healthy Wage seems like an idea whose time has come. With so many people in need of some sort of incentive that will help them get across the weight loss finish line, maybe it’s time to let money do the talking.
Whatever works, right? Absolutely. With one exception: if you have had issues with gambling in the past, you should steer clear of any site or activity that might act as a trigger. That said, we can find no other real issues with Healthy Wage.