StepBet Review! Lose Weight Or Lose Money!

Who Is Jamie Rosen? 

Jamie Rosen is what I would describe as an entrepreneur at heart having been involved in a number of projects since his University days, and like Bill Gates and Mark Zukerberg he dropped out of Harvard...and unlike his illustrious drop outs he dropped out while having graduated and studying and MBA. 

His reasons were similar to Mr Facebook and Mr Microsoft, a project he was starting got funded and started to take off. 

Jamie is listed as the founder of Comet Systems (which he later sold for US$33 Million) Inventor of chango toys (many patents were sold to Yahoo, eventually selling the business to the search engine giant)  founder and CEO of Early Stage Start Up (a venture capital company) and is the founder and current CEO of  WayBetter, inc. 

It is safe to say he is legit and the App and business is in good hands. 

StepBet Lawsuit

There are no current lawsuits filed against Waybetter by any regulatory authority, private company or citizen. 

When you perform a search the only result show up is their planned flotation of the company on the stock exchange and their declaration to the SEC that they have no legal proceeding against the company or any of their directors. 

Let's talk firstly about StepBet and their business - after all they are a business and, despite all their good intentions they too need to make money so that the app continues to exist. 

Their missions is to help their users to lead a healthier more active lifestyle by providing their user base with the stimulation and motivation to become more active. 

As I mentioned, their goal is also to make money. 

Their business model and strategy is financed by keeping 15% of the bets placed for each game played.

This can amount to quite a considerable amount as the pot for some games can rise as high as 5 figures!. 

The pots, are funded by the bets placed by users.

Each game has buy in price, usually in the region of US$40 per game per users. The app also has a membership option, which is of course another source of revenue. 

This way s and methods of generating revenue by Waybetter and StepBet.  is totally legit, legal and above board. 

Step 3 Win Some Money!.

When you have connected/synced your device StepBet will collect the historical data and use it with their custom algorithm to calculate goals that specifically tailored for you. 

This help the app to provide goals for you that are not too easy, not too difficult but challenging enough for you to achieve. 

When your goals have been calculated you then put some "skin in the game" by placing a bet on your ability to achieve the set goals. 

The bet amount does vary and is not a set amount. A very common amount is US$40. 

All bets are paid upfront and can be paid via: 

• Credit Or Debit Card: 
• Paypal
• Money Earned From StepBets Won. 

Games are normally 6 weeks long, with weekly goals that must be achieved. 

Six weeks is a good duration as during that time frame you will see, feel, notice and appreciate a difference in your health. 

If you are normally inactive, 6 weeks is long enough to help change your behaviour and be in the automatic habit of being healthier and more active.

If and when you win StepBet returns your initial bet plus some interest!, that little extra is how you make money with StepBet. 

How much is dependent on how big the pot is and how many people taking part complete their set goals. 

StepBet take a 15% cut of all the money that is in a pot, let's assume there are 10 participant paying US$40 each, pot size of US$400. 

US$60 will go to StepBet with US$340 being available for splitting between the winners. 

If all participants achieve their set goals all Particpants will get their initial bets returned (including the 15% fee! - StepBet will make nothing).

If 50% fail to make the targets set the US$340 pool will be split between the remaining 5 members with each getting US$68 each - effectively earning US$28 profit on their initial bet. 

Those that do not achieve the objectives will lose all of their US$40 bet.

This is where the goals and the brilliance of the app comes into play.

Everybody wants to win at something, the competitive aspect, and of course nobody will want to lose their money and thus the app has a genuine way of making some really big changes to a lot of people's lives by encouraging them to be active and stay active. 

...or face the consequences of losing some money!. 

If you think about it, it can be seen for some as choice - lose money or lose weight?. 

StepBet is designed for those that will benefit from being active and living a much healthier lifestyle and perhaps those that need the motivation and stimulus of the Risk Vs Reward inspiration to get out and be more active. 

If you have difficulties achieving certain activity based goals or sticking to an exercise regime then you will get a lot of benefit from StepBet. 

Be prepared to put your money where your mouth is and keep your eye on the prize of winning some money!. 

When you achieve your goals, at the end of then game your winnings are paid to your StepBet Account of which you can reuse to fund another game that you may wish to participate in and continue being motivated and inspired to lead an active and healthy lifestyle. 

If you want to cash out and enjoy your winnings you can get the money sent to your Paypal account 48hours after requesting payment.

As part of your background checks for any potential money making opportunity you should check them out with any relevant professional associations and organisations such as the Better Business Bureau. 

WayBetter, the company behind the app, are not accredited by the Better Business Bureau and hold a respectable B rating. 

Having checked what The Truth In Advertising have to say I found there to be no mention of StepBet or Waybetter. 

This is indicative of the company not partaking in any deceptive, misleading advertising or unsubstantiated income claims.

There was one particular complaint that caught my attention, and something that you should be aware of when selecting which games to participate in. 

I have reproduced the complaint below as as evidence and for your awareness.

StepBet take a 15% cut of all bets placed regardless of the amount. 

StepBet have added a membership system with an annual fee of US$50 which permits you to take part in up to 3 games at a time which will help you to be more active, get in shape and lead a much more healthier lifestyle. 

Of, course, increases your earning potential with the app 3 fold. 

Membership also gives you access to members only games where the 15% cut that StepBet usually take is not taken out of the Pot, making the winnings higher. 

Some of the members games have some twists to them where you need to be active for 6 days a week - as opposed to the regular 4, and come with a 2% augmentation every week in your set goals keeping you on your toes! 

That, from the fitness and health side of it I like!. Plus, you will probably end up winning more due to a higher rate of people not achieving their goals. 

If you are serious about getting and staying in shape long term, then I do think that this is certainly worth it as it can quickly pay for itself with increased earnings and of course better health!.

StepBet has a no refunds policy from day 7 of a game onwards. This day 7 rule is not when you started using StepBet or from when you chose to get a paid membership. 

It is counted from the 7th day onwards of each game that you participate in. 

Before the 7 day no refund policy kicks in you can request to leave a game and receive a full refund. 

Exceptions and circumstances are in place for medical grounds, under those circumstances provided you can send them documentation for verification purposes you can get a full refund at any time. 

You must make such claims prior to the ending of a game. 

For details regarding refunds you should contact the via Support@Waybetter.com

This app stands out from other similar apps that I have reviewed that also pay you for walking is the way in which they incentivise you to get active and remain active on a regular and on going basis. 

For example it is not just good enough to achieve your goals on a weekly basis and for 6 weeks you need to be active for at least 4 days per week. 

And then there is the "punishment" of losing money if you don't hit your targets as and a financial "reward" if and when you do!. 

I have not seen any other walking app with this kind of motivation and has you placing a bet on yourself and thus having that "skin in the game" that will make you want to win it back and more!.

That is real motivation and real inspiration!. 

StepBet, has a very good no lose guarantee that ensures that you will not lose money provided that you achieve the goals that they have set for you. 

If and when there are a high number of winners, StepBet forfeit their portion, the 15% to make sure all winners earn back their initial bet. 

So, 

In the worse case scenario as a winner you will earn back your bet, in a best case scenario you will win back your bet and some extra money on top of it - provided of course you stay active and reach your goals. 

Only if you are inactive and don't achieve your goals you will suffer the penalty of losing your money. 

And what more or better motivation do you have for being active than to earn money!. 

There are a lot of things that I do like about StepBet which are:

• Reasonable well rated at the Better Business Bureau. 

• No mention of bad, deceptive or illegal advertising practices on the Truth In Advertising Website. 

• No legal action being taken again the company or their directors. 

• Good way of getting fit and staying healthy. 

• You can earn some money. 
• They Pay In Cash.

• Easy to do.

• Goals are tailored to you and progressively get more difficult to help you to be healthy. 

• You have to pay to take part (that is how it works to motivate you).

• You can lose money (for once this is a good thing as it motivates you to be active and get fit!).

There are somethings that I did not like about StepBet, which were: 

• They Are Not Fully Accredited With The BBB. 
• It is a low income potential. 
• Not a way to earn a full time income.

Yes,

It is possible for you to make money with StepBet, you are not likely to earn much in terms of profit. StepBet is still good for a cheeky bit of extra money here and there. 

Mainly the benefit here is better health, and it is your health that brings you your wealth. 

StepBet Payout Calculator

There is a pretty cool StepBet Calculator that you can use to give you an indication of how much you can earn of the game you are currently taking part in. 

Using it is as simple as entering some details and clicking the button!. 

StepBet is not a scam. 

I have found absolutely nothing at all to indicate that there is any deception or fraudulent activity going on with StepBet or their parent company Waybetter inc. 

You can restassured this company and app is completely legitimate. 

I love apps and programs like StepBet!. 

Seriously, 

What is not to love about an app that encourages people to live a healthier life and brings a great sense of joy and well being to hundreds of thousands - maybe even millions of peoples both directly and indirectly. 

I'm sure the participants love it and their partners and families love seeing them being healthier and looking better. 

That is why I highly recommend the app as an activity tracker/health app. 

As a money maker, you are best forgetting about that side of it - but still use for the health benefits.

Personally, I predict that you will be able to cover any expenses you incur for running shoes, and a fitbit smartwatch.

When you buy them - that can be a an additional motivation to get moving and earn back not just what bet but to profit and get your gear paid for by your fitness kick!.   

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