A smart waste bin for waste management is provided. The smart waste bin may include a plurality of cameras, a deposit container, a plurality of waste receptacles, and a computing device including at least one processor in communication with at least one memory device. The processor may be configured to: (i) receive image data of items inserted into the deposit container by a user, the image data captured by a camera of the plurality of cameras, (ii) receive user data associated with the user, (iii) classify the one or more items based upon the image data, (iv) sort the one or more items into the corresponding waste receptacle of the plurality of waste receptacles based upon the classification, (v) determine an assigned value of the one or more items based upon the classification, and (vi) compensate the user based upon the assigned value of the one or more items.