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After reading academic studies which found that financial incentives were effective in helping people lose weight, I joined
My overall HealthyWage bet was to lose 10% of my body weight over 9 months (22 pounds in my case). My offered bet was to put up $50 per month for 9 months for a potential win of $500. You may like the sound of “winning $500”, but know that a lot of it will be your own money:
Honestly, risking $450 to win $50 didn’t feel like a very good risk/reward ratio, but I wanted the extra motivation. Perhaps my goal was too easy and that was why the payout wasn’t as high. You can put up your own numbers and
If I joined during a limited-time offer prize boost, I could have earned a lot more money:
Initial weigh-in verification. There are four ways to verify your weight:
- Smartphone app. There is a HealthyWage app for iOS and Android. You take a clip using the app and your personal scale. Importantly, everything can be done from home!
- Video Verification. Upload a video to their website using your personal scale.
- Verification by a Fitness or Health Professional – Bring a form to your “local gym, pharmacies, corporate wellness clinics, walk-in clinics, HR reps, nurses, your personal doctor, your personal trainer or your chiropractor.”
- Verification at a Weight Watchers Meeting.
I followed their
Every month, I would see a $50 charge on my credit card bill from HealthWage. However, that was about it. There were no encouraging e-mails. No virtual meetups or prize giveaways. I was fine with this, but if you like group encouragement or peer pressure, you’ll need to find it elsewhere.
Upon initial sign-up, I was given my 2-week window for final weigh-in. HealthyWage’s two-week window is definitely more generous than DietBet’s 48-hour window, with the important difference that I was never sent any reminders by HealthyWage when the time actually came. In comparison, DietBet sent me multiple reminders beforehand. Now, I had the date marked on my digital calendar with several alerts, so I completed my weigh-in by the second day of the window. It is quite possible that if I waited until closer to the final deadline, I would have gotten a reminder. But I wouldn’t rely on it. Remember, if you forget, they keep your money!
I also did a DietBet at the same time, which is similar but different in that it collects participants into groups and then takes a cut from the pooled bets. See my separate
Extra final verification hoops. Upon final weight verification, you’ll have to submit another verification video that includes of your weight scale. Again, you can just do it through their HealthyWage app. I also had to upload a scan of my driver’s license. Here’s a
As part of our review, we occasionally request that some (very few) participants submit an additional weigh-out video. If an additional weigh-out video is required, HealthyWage will contact you with instructions. Optionally, you could also keep on hand a set of full-body before-and-after photos, and have your teammates do the same. You do not need to submit the photo(s) to HealthyWage.
The fact is that if you really lose 10 lbs or more of your body weight, you will look noticeably different to human eyes! That is why they need the video. Looking at my before and after photos was a shock even to me.
Finally, I successfully referred a few people to Healthwage and received extra money added my “pot”. This referral program is nice feature to get some social support, but remember that you get the referral money only if you win your own bet.
Final payout options. There are two options to receive your winnings. A mailed check takes 3-4 weeks to process, with no fee. The other “fast” option is PayPal, which charges a 3% fee. I picked the PayPal option because I didn’t want to wait around for a check. However, they later clarified that it would still take 3-5 business days for PayPal transfer. The 3% fee is taken out by PayPal, so HealthyWage actually sends the full amount (they just choose not to subsidize the fee). In retrospect, maybe I should have just waited for the check. Here’s a screenshot:
Bottom line. I committed to a Healthywage bet to lose 10% of my initial weight over 9 months. I lost the weight, completed my verifications without hassle, won the bet, and was paid my winnings. Although I found the process a bit impersonal, they are a legit company.
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