Hey Internet Fitness Tribe! Here are the frequently asked questions about the weight loss bet.
As more interest arises, I’ve started getting a lot of really good questions about the weight loss bet. I actually had all of the same questions and I’ve answered them all. If you have any questions that aren’t listed here, please shoot me a message using the contact tab!
How do I get an extra $40 toward my bet/prize?
If you use my referral link http://tinyurl.com/zyal6he and you’ll get $40 toward your bet/prize. Think of it this way, if you bet $100 and your prize is only going to be $5 (for a total of a $105 prize) now that you’ve used my link, you now have a $145 prize.
How do they verify my weight?
There are a few options, the easiest option is using the app (once you’ve made your bet, search your app store). The app will walk you through the process step by step, but essentially you video yourself in the mirror (or have someone do it for you) and prove you don’t have weights strapped to your body, show that the scale is balanced to 0 and step on it. The video won’t allow any pausing or editing and it gets reviewed by a referee for approval.
The other options are to go through a physician, weight watchers clinic or some gyms.
I don’t have that much weight to lose, what’s the minimum?
It looks like you just have to commit to losing 1 or more pounds actually, but the more weight that you can commit to losing, the better the return on investment you’ll earn!
I don’t have $1000 to bet, how much do I have to bet to qualify?
It’s a minimum of $100 to place a bet, play with your weight loss bet amount to find the best return on your investment. For instance, I found that $1000 was the most that I should bet to get my maximum return which turned out to be $800. If I bet anymore, I wouldn’t get more than $800.
Also keep in mind that you will likely do this in a monthly payment plan. For instance, I bet $1000 but I’m making a monthly payment of $125/month which feels a little more reasonable.
What return on investment can I get?
It will depend on how much weight you plan to lose, your current weight, your height and how long you are going to take. I noticed that taking a little longer helped my return on investment. I am sure I will meet my goal before my scheduled final weigh-in but 1.) It helped my return on investment and 2.) It will force me to maintain my weight loss instead of gaining it back like I usually do.
When do I collect my prize?
Your weight loss bet has to be at a minimum 6 months from your first weigh in but can be as long as you like.
How does this company make money? What’s in it for them?
The primary source of income is through company events. They hope you tell your employer about the plan and they work with the company. They also make money for people who lose their weight loss bet.
Then of course, they can invest the money that you’ve given them while you lose the weight. Similarly to how a bank makes money of your money in your account when you aren’t using it.
So, what are you waiting for? Calculate your weight loss bet prize now!