How to Earn Money by Losing Weight

Photo by tmcphotos / Shutterstock.com

It’s the rare dieter who didn’t experience a twinge of envy when looking at the grand prize winners on NBC’s “The Biggest Loser.” They were slim, happy and clutching a fat check.

We’d all like to earn a major bonus for hitting our target weights. Good news: We can.

Numerous programs enable you to bet on your own weight-loss goal. Generally, if you reach the goal, you win money. However, if you miss the goal, you lose money.

The programs vary, but they help you — and in some cases your teammates — reach goals by offering accountability, games and cash.

Shed pounds, gain dollars

Greg Topple was one of five members of a team that did a weight-loss challenge through a program called HealthyWage.

Topple told Money Talks News:

“Having teammates, they were there to give me a hug or a swift kick when I needed it, and everybody on the team ended up losing at least 10%.”

Topple lost 42 pounds after putting up $70 in a bet on his weight-loss goal. He got his $70 back plus an additional $65.

Other people have won thousands of dollars by betting on their weight-loss goals through HealthyWage. How much money you stand to win depends partly on how much money you’re willing to wager.

Science supports the idea of monetary rewards for weight loss.

For example, a Mayo Clinic study found that financial incentives prompted 62% of dieters to complete a weight-loss program and to lose an average of 9.08 pounds. In contrast, only 26% of those without cash on the line completed the program, losing an average of 2.34 pounds.

Unlike contestants on “The Biggest Loser,” you won’t be required to leave your family, home and friends to participate in programs that offer financial rewards for weight loss.

True, you won’t have the support of “The Biggest Loser” trainers and medical professionals. If you choose to take the team approach, however, you can get encouragement from teammates.

Get started

Ready to get rewarded for your weight-loss efforts? Here are some programs currently offering such rewards:

  • HealthyWage: You can enroll in personal or team challenges. What you win depends on variables such as how much weight you lose, how long it takes you to lose it and how much money you put up. To get an idea of how much you could earn, play around with HealthyWage’s prize calculator.
  • StickK: This goal-setting platform is based on the work of a Yale University professor of behavioral economics. You can customize goals and put the details — including any stakes — into writing with a “Commitment Contract.” If you wager money and fail to reach your goal, the money goes to a recipient of your choice.
  • DietBet: This program uses both financial incentives and challenges that it refers to as “games” to help you stick to your commitment. If you’re interested in losing weight by making running a habit, check out the related program RunBet.

Whether you choose one of these programs or a different one, the bottom line is the same: The only thing better than losing weight is gaining some cash while you do it.

Have you tried any of these programs or another one like them? Share with us in comments below or on our Facebook page.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
10 Clever Ways to Make Extra Money
10 Clever Ways to Make Extra Money

Looking for additional cash? Here are a bunch of options that are accessible to anyone with internet access.

8 Reasons Your Parents Had an Easier Retirement Than You Will
8 Reasons Your Parents Had an Easier Retirement Than You Will

Here’s why the last decades of life are harder now than they used to be.

20 Great Part-Time Jobs for Retirees
20 Great Part-Time Jobs for Retirees

Maybe you’re not ready to leave the workplace entirely.

12 Easy Ways To Make Make Money Online Without Leaving Home
12 Easy Ways To Make Make Money Online Without Leaving Home

If you’re hanging around the house a lot these days — and who isn’t? — use your time to make some extra cash.

9 Ways to Get Affordable Vet Care
9 Ways to Get Affordable Vet Care

Medical care for your furry friends can be expensive. Here are some tips to get affordable vet care.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
10 Things Frugal People Never Buy
10 Things Frugal People Never Buy

If you’re a true tightwad, the mere thought of spending money on these items gives you the willies.

10 Useless Purchases You Need to Stop Making
10 Useless Purchases You Need to Stop Making

You might as well flush your money down the loo if you spend it on these things.

The 16 Cars Most Likely to Last 200,000 Miles
The 16 Cars Most Likely to Last 200,000 Miles

One automaker takes half the spots on a list of the longest-lasting vehicles.

7 Social Security Rules Everyone Should Know by Now
7 Social Security Rules Everyone Should Know by Now

Confusion over Social Security is a shame, considering how many of us will need this money badly.

9 Shopping Mistakes to Avoid at Costco
9 Shopping Mistakes to Avoid at Costco

Are you missing out on serious savings at your favorite warehouse club?

If You Find This Thrift Shopping, Buy It
If You Find This Thrift Shopping, Buy It

They don’t make coffee makers like this anymore.

11 Products Now in Short Supply Due to the Pandemic
11 Products Now in Short Supply Due to the Pandemic

Many goods we take for granted have become tough to find in 2021.

7 Kirkland Signature Items to Avoid at Costco
7 Kirkland Signature Items to Avoid at Costco

Even if it seems you save a bundle buying Costco’s Kirkland Signature brand products, they may not be the bargain they appear to be.

14 Things You Should Stop Buying in 2021
14 Things You Should Stop Buying in 2021

These convenient household products come with hidden costs that you might not have considered.

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

Is Writing a Check Still Safe?
Is Writing a Check Still Safe?

Every time you pay by check, you hand your bank account numbers to a stranger.

6 Ways to Protect Your Retirement Accounts From Hackers
6 Ways to Protect Your Retirement Accounts From Hackers

Imagine having $245,000 stolen from your retirement account — and not being reimbursed.

8 Things You Should Replace to Improve Your Life Today
8 Things You Should Replace to Improve Your Life Today

Being frugal isn’t smart if you put off replacing these items.

This Is the Most Dependable Car Brand in the U.S.
This Is the Most Dependable Car Brand in the U.S.

This brand’s vehicles are least likely to give drivers repair headaches, according to J.D. Power.

13 Amazon Purchases We Are Loving Right Now
13 Amazon Purchases We Are Loving Right Now

These practical products make everyday life a little easier.

7 Hidden Sections of Amazon Every Shopper Should Know
7 Hidden Sections of Amazon Every Shopper Should Know

These little-known departments of Amazon are gold mines for deal-seekers and impulse shoppers alike.

7 Income Tax Breaks That Retirees Often Overlook
7 Income Tax Breaks That Retirees Often Overlook

Did you realize all these tax credits and deductions exist — or that they apply to retirees?

7 Social Security Benefits You May Be Overlooking
7 Social Security Benefits You May Be Overlooking

There’s more to Social Security than retirement benefits.

The 6 Best Investing Apps for Beginners
The 6 Best Investing Apps for Beginners

If you’re looking to ease into investing in the coronavirus economy with just a little money, check out these easy-to-use tools.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.