Author Topic: Apps that pay you money?  (Read 561 times)

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Offline Desert Fox

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Apps that pay you money?
« on: February 12, 2018, 08:37:52 AM »
I was talking to a coworker who uses an exercise app (well sort of in her case) which is suppose to pay her for walking. That immediately tingled my skeptical sense because I don't think anybody is going to give me money for walking. One of the prizes is suppose to be $1000 on PayPal if you do 20,000. To her that is some incredible goal but to me I tend to do 20,000 steps in a single day at least once a week.

1. What are your thoughts?
2. How does one explain such things are probably at least false if not scams?
I remember the saying "If something sounds too good to be true, it probably is."
Many people seem to have never heard that (or processed that) and they are my age or older.
"Give me the storm and tempest of thought and action, rather than the dead calm of ignorance and faith. Banish me from Eden when you will; but first let me eat of the fruit of the tree of knowledge."
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Offline John Albert

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Re: Apps that pay you money?
« Reply #1 on: February 12, 2018, 09:28:38 AM »
What do the comments in the App Store / Play Store have to say about it?

Google the name of the app and research the publisher to find out their business model.

Offline st3class

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Re: Apps that pay you money?
« Reply #2 on: February 12, 2018, 02:25:03 PM »
If the app is StepBet, (sounds like it might be, but I'm not sure) then you've paid into a pot with a group of other people. As long as you hit your goal, you get your money back plus a share from whoever did not meet the goal, minus a fee from StepBet itself. There may also be a challenge where if you hit a certain threshold, you get a bonus. (The threshold usually changes based on your step history). The company gets money from the scrape off the top, and there's a premium membership available that has certain benefits.
It's always more complicated than that.

Offline Billzbub

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Re: Apps that pay you money?
« Reply #3 on: February 15, 2018, 04:23:04 PM »
If the app is StepBet, (sounds like it might be, but I'm not sure) then you've paid into a pot with a group of other people. As long as you hit your goal, you get your money back plus a share from whoever did not meet the goal, minus a fee from StepBet itself. There may also be a challenge where if you hit a certain threshold, you get a bonus. (The threshold usually changes based on your step history). The company gets money from the scrape off the top, and there's a premium membership available that has certain benefits.

So what I need is something that simulates the motion of walking that I can put a dozen fit bits on and place me some bets.  It's like mining cryptocurrency!
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Offline John Albert

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Re: Apps that pay you money?
« Reply #4 on: February 15, 2018, 05:06:42 PM »
So what I need is something that simulates the motion of walking that I can put a dozen fit bits on and place me some bets.  It's like mining cryptocurrency!

Probably far more profitable with much less overhead.

Offline Keo_Mitchell

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Re: Apps that pay you money?
« Reply #5 on: February 16, 2018, 09:50:10 PM »
I was talking to a coworker who uses an exercise app (well sort of in her case) which is suppose to pay her for walking. That immediately tingled my skeptical sense because I don't think anybody is going to give me money for walking. One of the prizes is suppose to be $1000 on PayPal if you do 20,000. To her that is some incredible goal but to me I tend to do 20,000 steps in a single day at least once a week.

1. What are your thoughts?

Without any personal experience with the app it honestly sounds reasonable and less like a scam. As a former fraud investigator for JP Morgan Chase I had to be familiar with fraud trends and this doesn't feel like something that could be illegitimate. It would be easier to target children and put a substantial price on an app that does one simple thing, like making a unicorn fart rainbows. Butt, I mean but in regards to this app in question it actually sounds brilliant! A company is going to possibly give me money for exercising, heck yeah that is a hell of a hook. The addition of a goal of 20,000 steps to be considered for the grand prize ensure that people actually use the app. If people are using the app that means there is more of a chance for the developers to gain ad revenue. Even if it is a penny, with a good hook like that it'll easily compound to a substantial chunk of change. It isn't within reason that a company could just give away a grand and write it off as a loss to the company so long as they are overall profitable. Not to mention, apps that give money are very popular right now like that app whose name escapes me. But it was the one that holds trivia nights that you can actually win money from.

Quote
2. How does one explain such things are probably at least false if not scams?
I remember the saying "If something sounds too good to be true, it probably is."
Many people seem to have never heard that (or processed that) and they are my age or older.

Just educate them on common signs of something fishy: is there misspellings in the description, how established is the app or producers of the app, is their a paywall and if so is the price of the app in line with similar apps, are those similar apps made by the same company, etc.

« Last Edit: February 16, 2018, 09:55:31 PM by Keo_Mitchell »
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Offline Desert Fox

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Re: Apps that pay you money?
« Reply #6 on: February 17, 2018, 12:14:00 AM »
I am going to start by being charitable and assuming you really were what you claim

Given that, it is still an argument from authority. It is from a field not really that closely related to what you claim. There is a great example of this recently. A person discussing tanks brought this up. Sometimes people will claim "I know all about the M4 Sherman because I was an M1 Abrams tank commander." Maybe you know what end of Sherman is from another but not much more than that. The guy though specifically has studied the Sherman and period materials.

That all said, I can do the math. The app did not appear to have "One day" but instead total. That average Samsung Health user will do that every four days. Even we assume that it has to within a single day, I am only in the top 3%. With $1000 as a goad, more people would push that 20,000 step goal. They have to pay for this somehow. Lets say through ads. If they are lucky, maybe $.05 per ad. That means they need 20,000 people not to be able to make the goal in order to pay for one that does.
"Give me the storm and tempest of thought and action, rather than the dead calm of ignorance and faith. Banish me from Eden when you will; but first let me eat of the fruit of the tree of knowledge."
— Robert G. Ingersoll

Offline Keo_Mitchell

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Re: Apps that pay you money?
« Reply #7 on: February 17, 2018, 02:11:09 PM »
I am going to start by being charitable and assuming you really were what you claim

Thanks for the chump charity but I assure you I am well versed in ACH, Wire, 419, identity theft, account take overs, and online account fraud through JP Morgan and when I switched to Verizon Fraud prevention I gained the hands on knowledge of identity theft, order fraud, account take over, cloned devices, fraudulent claims, phishing, catfish, whaling, and application fraud. Though I will admit app fraud was not handled directly through my department but rather we referred them to the app store holder. However, we did have a standard script to follow in regards to that situation which included basic information in regards of how to avoid personal, financial, loss.

Quote
That all said, I can do the math. The app did not appear to have "One day" but instead total. That average Samsung Health user will do that every four days. Even we assume that it has to within a single day, I am only in the top 3%. With $1000 as a goad, more people would push that 20,000 step goal. They have to pay for this somehow. Lets say through ads. If they are lucky, maybe $.05 per ad. That means they need 20,000 people not to be able to make the goal in order to pay for one that does.

This is assuming that they pay every person a grand who reaches the goal of 20K steps and not just entered into a raffle. There is one piece of information that is missing to help me better assess, what is the name of the app in question?
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Offline Desert Fox

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Re: Apps that pay you money?
« Reply #8 on: February 17, 2018, 03:10:45 PM »
This is assuming that they pay every person a grand who reaches the goal of 20K steps and not just entered into a raffle. There is one piece of information that is missing to help me better assess, what is the name of the app in question?

I am not sure the name of the App because I only saw it briefly on another person's phone. I looked for something like it online and did not find anything.

What you argue has some merit (a lot of merit) where you can have a small number of raffles (or one) and give a prize in that case.  Could easily be in the fine print. If that is the case, nothing I argued in the OP is actually untrue. If you walk 20,000 steps, you are almost certainly not getting 1,000 dollars on PayPal.
"Give me the storm and tempest of thought and action, rather than the dead calm of ignorance and faith. Banish me from Eden when you will; but first let me eat of the fruit of the tree of knowledge."
— Robert G. Ingersoll

Offline Tassie Dave

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Re: Apps that pay you money?
« Reply #9 on: February 17, 2018, 04:23:08 PM »
It is basically a betting pool. Everyone puts in the same amount. The app maker takes it's cut, say 15%, some take up to 25%. Everyone who meets their target gets a split of the remaining pool.
You are guaranteed, at minimum, your money back. If you reach your target

This is basically how the totalisator for horse racing works.

I'd be very skeptical of any that promise $1,000. You'd either have to be in a group of rich people betting large amounts, or a large group of people who don't meet their targets. Unlikely.
If you made a profit of 5 - 10%, you'd be doing well. A good way to incentivise you to exercise.

Buy several fit bits and mount them on to a very active dog  ;)

 

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