What is Diet Bet?
Most simply put, Diet Bet is a way to get paid to lose weight. You can visit their website and begin your own diet bet or join someone else’s betting group.
According to The Penny Hoarder, diet betting sites have been gaining in popularity over the past few years. There are two great diet betting sites out there (Diet Bet and Healthy Wage). So far DietBet.com has had over 440,000 players, more than 5.5 million pounds lost and over $28 million paid out through diet bet games.
How Does Diet Bet Work?
Generally you start with joining a “game.” The company calls each diet bet a game because you put money out and bet on yourself being able to lose a certain amount of weight within the length of the game. Most last anywhere from a week to a few months (some even last a year).
You can join a game by joining one of the weekly kickstarter’s or create your own diet bet. Each game has a buy-in price and once the game is over everyone who met their goal will split the pot. The largest pot on the site currently sits at $130,000 with under 1,000 people to split it.
Losing Weight and Making Money With Diet Bet
The amount of money you’ll make varies from bet-to-bet. If you don’t lose the weight you bet that you would, you lose your buy-in (ranging from $10 to $100). One woman, for instance, lost 56 pounds and won over $1,100, while another lost 84 pounds and earned $660.
You can set your weight loss goal by percentage for most bets. For instance, if you’d like to lose 4% of your body weight, you can join the weekly kickstarter (a four-week plan). Lose 10% of your weight betting in a six-week program. You can also join more than one bet if you’re confident in your ability to lose the weight and earn even more cash.
Additionally, you don’t need to go to the website to have access to your Diet Bet account. There’s an app for that.
Diet Bet App
Don’t want to get on your computer to track your weight loss journey? You can have Diet Bet in your pocket. The Diet Bet app is extremely user friendly and allows you to keep track of your current bets, track your weight loss and win cash when you succeed.
Either way you look at it Diet Bet can help you make some extra cash and motivate you to lose weight. The best part is you can take the cash you earn from Diet Bet and stash it in savings, pay off debt or plan a great vacation.
Will you try Diet Bet this year?
Photos: Practical Cures and Twitter
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