About 67% of Americans play some type of game on an electronic device each day. So, it makes sense that StepBet would turn being fit into a game – and one where you can earn real money!
But is it a legit fitness app you can make money with?
Yes, you can make real money on the StepBet app. If you consistently played games throughout the year and won each one of them, you could earn $60-$112 per year – maybe even more if you became a member!
So, let’s take a deeper look into the app, how you play, and how you can win!
What is StepBet?
StepBet is an app that encourages people to get active by turning it into a game where you actually place bets on yourself.
The app uses a special algorithm to give you personalized step goals that you have to meet every week while you’re playing the game. If you meet your goals throughout the whole game, you win your bet back plus some!
What’s In It For Them?
The app was developed by a company called WayBetter, and their goal is to encourage people to adopt healthier behaviors.
Their goal is also, of course, to make money. Which they do by keeping 15% of the gross pot of each game (which is a lot, considering the pots for some games can be tens of thousands of dollars).
The users are the ones who fund the pot, because there’s a buy-in price for each game. They also offer memberships, which is another way they make money.
How Is It Different From Other Walking Apps?
The main thing that separates this app from the other money-earning walking apps is, by far, their method of incentivizing their users.
Most other apps offer you points for walking a certain number of steps, then allow you to either spend those points on goods or simply cash them out.
StepBet actually requires you to put up money before you have the chance to earn more. You make money by winning the games, but you have to pay real money to enter the game in the first place.
The idea is that having real money on the line will be a stronger motivator to get and stay active.
How to Make Money on StepBet
Making money on StepBet is a bit different than your standard step-tracking app, so let’s break it down into a few steps:
- Download the app and register
- Get your personalized goals
- Find and join a game
- Meet your goals
- Earn money
1. Download the app and register
The first step is to go on the Google Play Store or the App Store and download the app. It’s available for both iOS and Android devices and is free to download.
Then you have to register on the app, which includes filling out your name, email, and basic information like that.
2. Get your personalized goals
Once you’ve registered, then a screen will pop up that asks you to connect to a fitness tracker, like FitBit or Apple Health.
You pick which one you already use, and allow the StepBet app to access that information.
From there, StepBet will give you a personalized goal, which it derives from the information stored on your fitness tracking app.
Ideally, your personalized goals won’t be anything too difficult to reach, but it will still be a challenge for you.
3. Find and join a game
After you get your goals, you can browse available games that are getting ready to start. It will show you the start and end date, how many people have joined it, and how much it costs to join.
Unless you’re a member, you can only do one game at a time, and each game lasts about six weeks.
Once you’ve decided you’re ready, you simply join the game!
4. Meet your goals
The next step is to play the game and meet your goals.
The first week is essentially a practice week, so if you don’t meet your goals, you won’t get disqualified. However, every week after that, you must meet your goals, or you will be disqualified and you’ll lose your bet.
There are four regular days, two “stretch days,” and a break day.
The four regular days are the days where your step goals should be reasonable as long as you put in a bit of effort.
The two stretch days are the days where you have to really push yourself. During these days, your step requirements can be thousands of steps more than your standard goal.
And, of course, they offer you a break day to give your body a rest and get ready for the next week.
And you don’t have to do those days in any specific order, either. But you must do all of them in one week, each week, or you’ll lose the game.
5. Earn money
The last step is simple: to earn money, you win the game!
The pot will be divided among all the winners, after StepBet takes a 15% to cover administration costs.
The money is available on your account, which you can either use to pay for future games, or you can just cash out.
How Much Money Can You Make?
How much you make depends on how many players joined the game and actually won, because all the winners split the pot evenly (after StepBet takes a 15% fee).
If there is an unusually high amount of winners during a game, they have a No Lose Guarantee, which means that, if you won the game, you’re guaranteed to at least make your bet back.
On average, games cost about $40 to join. And, if you win, you could expect to see a return of $47-$53. Meaning, you’ll profit about $7-$13 per game.
And, since you can only play one game at a time, and each game lasts six weeks, you can expect to earn $60-$112 per year, if you played continuously and won every game.
StepBet also offers a membership option, which costs $50 per year. With the membership, you get access to member-only games (where winners split 100% of the pot) and the ability to play in three games at once.
Not only would your earning potential be higher, but you could also earn three times as much!
Of course, playing and winning three games per month would require a lot of dedication, and you’d still have to pay for each of them upfront (so it would be a bit more of a startup cost). So, it would be a little riskier, but you could earn a lot more.
Is It a Scam?
StepBet is not a scam, it’s a completely legitimate app that pays you for consistently meeting your weekly step goals and winning games.
But even though it isn’t a scam, there’s still another question we have to consider: is it gambling?
Whether or not gambling is something you do is a matter of personal choice. But, since some people are avidly against gambling, it’s worth dedicating some time to answering this question.
StepBet says on their website that it is not gambling, stating that it’s “fundamentally based on the steps you take, and not an element of chance.” It also claims that whether or not you win is in your control, and is not random.
But the Merriam-Webster dictionary defines gambling as “to play a game for money or property,” or “to bet on an uncertain outcome,” as well as “an act having an element of risk.”
So, is it gambling or not?
Ultimately, I think it’s a matter of personal choice and conscience as to whether or not StepBet is considered gambling.
In my opinion, I do consider it gambling, albeit a less risky form of it. Yes, you theoretically are in control of how many steps you take a day, but there are things outside of your control that you can’t predict that would prevent you from taking the required number of steps, such as breaking your leg or getting sick.
But again, whether or not you’re okay with gambling, or whether or not you consider StepBet gambling, is a matter of personal opinion. But it isn’t a scam.
- A potentially stronger motivation to get fit
- Has higher earning potential than some other apps
- An easy-to-follow setup
- You risk losing money
- It costs money to start
- It can be considered gambling
All in all, StepBet presents a unique way to earn some money and motivate people to get fit.
You can earn a decent amount of money, especially if you’re a member, but there’s also a bigger element of risk. Not to mention, you do have to put up the money upfront.
Whether or not you use this app is ultimately up to you. But if you’re looking for a side gig that can earn more money with less of a risk, you could always try cleaning yards or look at other ways to make money walking and getting fit.