Brenda Khan
DietBet is a weight-loss challenge where participants bet their money with the hope of earning it back, and more, at the end of the challenge. The idea is that the fear of losing money will push participants to stick to their diet plan. DietBet's fee is 10-25% of the pot, and winners can withdraw their money via PayPal or paper check. To start a DietBet, you can host your own weight-loss challenge by clicking the Create button on the homepage. You can then customize the game by setting the start date, game type, and bet amount. Once your game is created, you can recruit players by sharing on your social accounts, inviting them via email, or letting your fellow DietBetters know.
| Characteristics | Values |
|---|---|
| Goal | Lose 4% of body weight in a month or 10% in 6 months |
| Participants | Friends or strangers |
| Minimum age | 18 years old |
| Minimum Body Mass Index (BMI) | 18.5 BMI |
| Bet amount | Starting at $10 |
| Payout | Via PayPal or paper check |
| Weigh-in | Two photos: one of you standing on a scale in lightweight clothing and another of the scale’s readout with your weigh-in word written on a piece of paper |
| Weigh-in frequency | Every 4 days |
| Referees | DietBet referees decide on disputes |
| Audit | Random checks and algorithms to detect unusual activity |
| Host | Chosen by DietBet or a person |
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What You'll Learn
Understanding the rules of DietBet
DietBet is a weight-loss challenge where participants bet their money on their ability to lose weight. The rules are simple: lose a target amount of weight in a set amount of time, and if you succeed, you split the pot with the other winners.
The target weight loss for DietBet's Kickstarter game is 4% of your body weight in 28 days. There is also a Transformer game where the goal is to lose 10% of your body weight in 6 months. The rules for each game type vary slightly, and it's important to understand these before joining. For example, for Kickstarter, you can cancel up to 7 days before the game start date and receive a full refund, whereas for Transformer, you can cancel up to 14 days before and receive a refund.
To participate in a DietBet, you must be at least 18 years old and have a Body Mass Index (BMI) of at least 18.5. It is important to play smart and only engage in a DietBet where you can safely lose the required weight in the required time, and where you can afford to lose the money if you don't succeed.
During the game, DietBet recommends updating your weight every 4 days. Official weigh-ins will be used to determine the winners, and for these, players must submit two photos of themselves on a scale for review and approval by DietBet's Referees. The first photo is a head-to-toe shot of the player standing on a scale wearing lightweight clothing, and the second is of the scale's readout with the weigh-in word written on a piece of paper to act as a timestamp. DietBet uses random checks and algorithms to detect unusual activity, and some players may be flagged for an audit and required to submit a video weigh-in.
At the end of the game, participants have a 48-hour window to submit their weight. DietBet takes a cut of the gross pot before distributing the winnings, which is typically between 10-25%. Winners are notified by email and can choose to receive their payout via PayPal or paper check.
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Choosing the right game for you
DietBet is a platform that offers a variety of weight loss challenges, where participants put down money with the hope of earning it back, and more, at the end of the challenge. The challenges involve losing a certain percentage of your body weight, usually 4% in a month or 10% in 6 months, and the winners split the pot.
When choosing the right game for you, there are several factors to consider:
Start Date
Are you ready to start right away, or do you need more time to prepare? DietBet has new games starting several times a month, so you can filter and find a game that aligns with your preferred start date.
Bet Size
How much money are you comfortable betting? DietBet offers a range of bet sizes, from as low as $10, so you can choose a game that fits your budget. Consider whether you want to bet big and potentially win big, or if you prefer to start with a smaller amount.
Number of Players
Do you prefer a large group with hundreds of participants, or a smaller, more intimate setting? Think about the type of environment that would be most supportive and motivating for you.
Host
Some DietBet games are hosted by celebrities, which may be a motivating factor for some people. Consider whether having a celebrity host would add to your experience.
Game Type
DietBet offers different types of games, such as Kickstarter, Transformer, and Maintainer. Kickstarter challenges involve losing 4% of your body weight in 28 days, while Transformer challenges are for losing 10% in 6 months. Consider your weight loss goals and fitness level when choosing a game type.
Payout Method
DietBet typically pays out winnings via PayPal, but you can also request a paper check or alternative methods if you don't have a PayPal account. Consider the payout methods offered and choose the one that works best for you.
Remember to read the rules and requirements of each game carefully before joining. It's important to choose a game that aligns with your goals, budget, and comfort level. Additionally, keep in mind that DietBet takes a cut of the winnings, typically between 10-25% of the pot, so this may impact your potential profits.
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Recruiting players
Once you've set up your DietBet game, the next step is to recruit players! Here are some ways to do that:
Social Media
Share your game on your social media accounts. You can post about it on your feed or send direct messages to your friends who might be interested. Use relevant hashtags to reach a wider audience and find potential players beyond your immediate network. This is a great way to spread the word and attract players with similar interests and goals.
Email Invitations
Send personalized emails to your contacts, explaining the game and why you think they would be a great addition to your team. Include all the necessary details, such as the game's start date, rules, and how to sign up. You can also use email threads or mailing lists to reach a larger group of people.
DietBet Community
Leverage the DietBet community to your advantage. Let your fellow DietBetters know that you have a game starting soon. Engage with them on the community board, where they share their weight-loss journeys and experiences. You can also explore existing groups or create your own to build a network of potential players.
Word-of-mouth
Don't underestimate the power of good old-fashioned word-of-mouth marketing! Talk to your friends, family, and colleagues about your DietBet game. Explain the concept, the rules, and the potential benefits. The more enthusiastic you are about it, the more likely they will be interested in joining.
Referrals and Recommendations
Ask your current players to refer their friends and family members who might be interested in joining. Offer incentives for successful referrals. You can also encourage your players to share their experiences and results, which can inspire and motivate others to join.
Remember, when recruiting players, it's important to maintain a positive and inclusive attitude. Be mindful of different fitness levels and weight-loss goals, and emphasize the community aspect of the game. By recruiting a diverse group of players, you can create a supportive and motivating environment for everyone involved.
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Weigh-ins and weight loss verification
For weight verification, DietBet employs a comprehensive system involving multiple weigh-ins and photo-based proof. Participants are required to submit two types of photos for official weigh-ins: a head-to-toe shot of themselves standing on a scale wearing lightweight clothing, and a close-up of the scale's readout with the "weigh-in word" displayed on a piece of paper. The "weigh-in word" acts as a timestamp to ensure the photo's authenticity and prevent tampering. This process is repeated for both the initial and final weigh-ins, providing a clear before-and-after comparison.
It's important to note that participants can update their weight between the initial and final weigh-ins without requiring photo verification. However, only official weigh-ins will be considered when determining the winners. DietBet recommends updating weight every four days to stay on track.
In addition to photo verification, DietBet conducts random audits using algorithms to detect unusual activity. Participants flagged for an audit must submit a video weigh-in for all subsequent verified weigh-ins. Failure to comply with audit requirements will result in disqualification and forfeiture of accumulated winnings and pending bets.
DietBet also offers flexibility for participants involved in multiple games simultaneously. If the weigh-in windows overlap, a single weigh-in submission can be applied to multiple games by specifying the relevant games during the submission process.
The weight loss verification process on DietBet is designed to ensure fairness and accuracy in the weight loss challenges. Participants are incentivized not only by the potential monetary rewards but also by the fear of losing their own money, creating a powerful motivation to achieve their weight loss goals.
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Collecting your winnings
Once the challenge ends, participants have a 48-hour window to submit their final weight with the required photos. DietBet will then verify the weights, and once the weigh-in closes, the funds are distributed. DietBet takes a cut of the gross pot before distribution, which can be between 10% to 25%. This cut is how they make a profit, as they don't risk any of their own money in the bets.
When it comes to receiving your winnings, you can choose to receive them via PayPal or paper check. If you opt for PayPal, there are usually no fees involved, and the transfer is typically quick. However, if you prefer a paper check, there may be a small fee, and you'll need to make a special request. It's important to note that DietBet calculates winnings by including your initial bet amount. For example, if you bet $20 and the payout is $30, they consider it a win of $30, while you may view it as a $10 profit.
While some people choose to reinvest their winnings into new DietBet challenges, you can also withdraw your money. It's worth noting that the winnings" displayed on your DietBet account may be different from the actual amount you've earned after subtracting your initial investment. For example, one user turned $78 into $514 in their DietBet account, but their total gain was $436 after subtracting their initial investment.
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Frequently asked questions
DietBet is a weight-loss challenge where participants bet their money that they will lose a certain amount of weight in a set amount of time. If they succeed, they split the pot.
On the homepage, click on the "Create" button to get started. Then, customise the game to your liking, including setting the start date, game type, and bet amount. Once your game is created, recruit players by sharing on your social accounts, inviting them via email, or letting your fellow DietBetters know.
DietBet's rules include:
- Players must be at least 18 years old and have a BMI of at least 18.5.
- Players must submit two photos of themselves on a scale for review and approval by DietBet's Referees.
- DietBet uses random checks and algorithms to detect unusual activity, and players flagged for an audit will be required to submit a video weigh-in for all future verified weigh-ins.
- DietBet's fee is 10-25% of the pot, and this is taken out of the gross pot before payout.
The amount of money you can make on DietBet depends on the size of the pot and the number of fellow winners. Games with large pots and a lower win rate can have very high payouts, while payouts will be lower for games with small pots and many winners.
Some tips for succeeding on DietBet include:
- Using a weight loss app or program to help you focus on your diet and increase your activity levels.
- Creating extra motivation by telling people about your challenge.
- Sticking to your diet plan and keeping tabs on your fellow challengers.
