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• Indirect financial incentives that reward physical activity behaviors (eg, step count) are effective during the intervention only.• Financial incentives have the potential to encourage physical activity and sports participation; however, careful consideration is needed in program design to avoid exacerbating socioeconomic and gender inequities, undermining intrinsic motivation, and unintentionally inflating costs. Promotion of physical activity and sport through financial incentives is a collaborative effort, with diverse stakeholders playing interconnected roles to drive success.