For some people, there’s nothing better to motivate you to do things than a little bit of extra cash. And if you’re one of these people, then I have the best news for you. I recently found out that you can actually make money while you lose weight!
I was looking at several weight loss forums and blogs a little while ago the other night and I came across two websites, DietBet and HealthyWage. Both are sites that allow you to put a “bet” on yourself to lose weight, and if you lose the assigned amount within the designated period of time, you get paid money!
So, I signed up to both and put bets on myself!
How this site works is after you sign up, you have the option to join a challenge to lose weight for either one month, or six months. If you choose one month, your goal is to lose 4% of your body weight, and if you choose six months, your goal is to lose 10% of your body weight.
Once you choose which one you want to join, this is how it works. You pay the entrance fee (there are different competitions available ranging from $10 to $100), and everyone that joins the challenge puts their money into an overall “pool”. Once the period of time is over (whether it’s one month of six months), everyone who has lost the challenged weight (4% or 10% of body weight respectively) gets paid a proportion of the pool. Essentially profiting off those who do not complete the challenge successfully.
I chose to join both a one month challenge and a six month challenge, so I now have money on the line and it’s great to help motivate me!
This site is slightly different to DietBet, in that with HealthyWage you aren’t competing against other weight losers, rather the website itself is the entity taking your bet.
So, you type in how much weight you want to lose, how long you want to do it in, and how much money you’re willing to bet that you will make it. The site will then calculate and give you the potential money you will earn if you win the bet.
According to the research I’ve done (because I was wondering how this site makes money), not only are they funded by private organisations that help to promote weight loss, but the majority of people that bet on themselves to lose x amount of weight in x amount of time, don’t actually complete it. This means that you are effectively winning the money off other people failing.
I joined HealthyWage as well, and bet $100 a month on myself for six months to lose 80lbs! So I turned this challenge into a monetary one, betting a total of $600 on myself to lose 80lbs in six months, and if I do it, I earn a total of $2,000 return. (The reason I chose 80lbs and not 100lbs is because the return was the same).
Is this something for me?
I definitely think that if you’re struggling with your weight loss journey and need that extra boost of motivation, money could help! Not only are you risking the money you have bet, but you have the potential to earn more money and spoil yourself with a little extra something at the end of your weight loss journey!