You can bet money on losing weight through specific platforms that allow you to accept a fitness challenge and receive a monetary prize upon completion. You can earn up to $10,000 on platforms like HealthyWage. However, there are other platforms as well, such as StepBet, Dietbet, and Runbet. All of these platforms involve betting on yourself, i.e., you accept a fitness challenge and receive money when you complete it. Fail, and you lose money. So, if you plan on a fitness journey, especially one that involves losing fat, you can consider making it into a bet. This article helps you learn about betting on losing weight.
Can I Bet on Losing Weight?
Yes, you can bet on yourself to lose weight. What’s important to understand is what losing weight means. You can lose a few pounds by dehydrating yourself and not eating food in a few days. However, that does not mean that you’re losing fat. Your body weight (your mass) reduces temporarily, so it will increase when you rehydrate and feed yourself. However, betting platforms track your body mass index (BMI), which is your body weight as per your height. So, below are some things to know about betting on losing weight.
Bet Money on Losing Weight – HealthyWage and other Platforms
You can also win money by losing weight through platforms that pay you to get fitter. It’s not exactly about betting on others losing weight, but you get paid to lose weight. HealthyWage is a platform that pays cash prizes to people who meet a specific health goal.
So, you’re betting on yourself. Below are some details about this type of betting.
How HealthyWage (And Other Platforms) Works
To place a bet on HealthyWage and other platforms, you sign up on the account and pick your challenge. Thus, you can place a bet that you’ll lose 30 lbs in 10 months. The sign-up fee on HealthyWage is $100 per month, so you’ll need to pay $1000 at the very least for this wager. However, you can increase the amount and get bigger returns. So, when you complete and succeed in the challenge, you’ll get $1000 minimum. If you surpass your goal (such as losing 35 lbs in 10 months), you’ll earn an additional amount on top of the $1000.
What happens if you don’t lose weight on HealthyWage? If you don’t reach your target, you will not receive the payout. The money you spend on the platform will go into funding HealthyWage, which can be used as profit or for paying out other competitors.
Examples of Other Platforms
Below are some examples of other platforms that allow you to bet on yourself to reach a fitness goal.
- StepBet – you bet on the total number of steps you must complete in a day.
- RunBet – you must create and stick to a running schedule for a specific period to win a payout.
- DietBet – this platform is also about losing weight, but multiple people put money in a pot, and those who reach their goals get to split the jackpot.
Betting on Losing Weight In Groups
You can also consider HealthyWage for a weight loss challenge for money with friends. HealthyWage not only gives you money for recommending a friend for a challenge but also increases the overall payouts when you bet as a group. Of course, the risk of betting with a group is higher than betting just on yourself. This is because everyone will need to reach their respective goals to get paid.
You could also consider HealthyWage for weight loss bet ideas for couples. Just as you can involve groups, you can do the same for couples. However, both you and your partner can sign up on other platforms that fit your fitness goals as individual players. For example, StepBet is a great choice for partners who enjoy walking or running together.
What to Consider When Using HealthyWage
HealthyWage is a legitimate platform, and it uses research from Ivy League universities to back up its idea of motivating people to lose weight through money. However, that does not mean that it’s a foolproof means to earn money. While there hasn’t been any specific HealthyWage scandal, you should note that some aspects can trap you and your money.
One of the most controversial aspects of HealthyWage is that there’s no refund policy. So, if you cannot reach your goal for whatever reason—be it something as serious as an injury or the loss of a close family member—you will not be able to cancel, postpone, or have your money refunded.
A Crucial Tip for Betting on Losing Weight
If you’re not ready to commit to a structure in which you spend and earn money through achieving fitness goals, you can start with options that don’t involve money. As you grow confident in your ability to stick to a fitness program and achieve results, you can start putting real money on the line. The point is that you don’t need to rush into anything.
See where you stand with your ability to manage certain fitness goals, such as losing fat. Everyone’s body is different, and losing fat can take longer for some people. If you’re not familiar with how your body reacts to new stimuli, then you are going into a challenge completely blind. In addition, losing fat can be quicker when you have done it before. For example, if your body fat percentage was 15% at some point in your relatively recent adult life, you can go from 30% fat to 15% quicker than if you were never lean before.
In addition to knowing your body, you should also have a grip on your mental focus. For example, you have a much better chance of winning a challenge like this one if you have accomplished long-term goals like this before. So, you’ll know you have a good winning chance when you have experience with setting and accomplishing goals.
Being prepared when engaging in any form of gambling is almost always beneficial. You can make informed decisions based on real-world data. If you want to ensure you get good results, bet on yourself with real money when you’re physically and mentally confident in reaching the goals set through a betting platform.
Quick Questions and Answers about Betting on Losing Weight
Below are some quick questions and answers about betting on losing weight.
Is it worth it to bet money on losing weight?
Yes, it can be if you put in a considerable amount of money. Low stakes will barely give you any payout that makes the whole thing worth it.
Why may people consider betting on losing weight?
Losing fat can be a challenge for most people who are not already invested in pursuing a healthy lifestyle. So, getting into fitness with something like losing money to keep them accountable can become a great motivator.
Can I bet on weight loss without using real money?
Yes, you can place friendly wagers on losing weight that do not involve any real money. Platforms like Fatbet allow you to set challenges that you and your friends can complete.
Betting money on losing weight can certainly be a great motivator to reach fitness goals. You have something to hold you accountable, but it has risks. So, evaluate whether you can complete specific goals before blindly jumping into a program.