Dietbet was created by Jamie Rosen, a serial entrepreneur. The site was introduced to the public only December 2011, which until now brings a whole new way to better the weight loss process. The principle of the site is quite simple: lose weight while having fun.
By turning your diet into a fun and more engaging game with friends, Dietbet makes it easier and more fun to lose weight. The participants can bet money into the pot, and or compete for non- monetary stakes. This idea is not a zero- sum game like The Biggest loser. It takes into account the achievement of everyone who completed their diet as well.
Essentially, players bet on losing weight in a 4- week course. Every player has to put money in the pot upon starting and whoever reaches the targeted weight by the final weigh- in wins. And if one or more achieved the goal, then they will split the pot equally. The game is stipulated by an organizer. He or she will also mediate on the amount of money to bet and the amount of weight each has to lose.
The idea is grounded on recognized principles of behavioral economics. And a study by UPenn affirmed that people paid to lose weight were 500% more likely to achieve their weight- loss goal. Another study by Harvard Med School indicates that it is easier to lose weight with friends.
Therefore, merging financial incentives with friendly competition causes a hyper motivating effect to players of the weight- loss game. So instead of having a complicated diet plan, why not incentivize your diet to kick start a healthier lifestyle?
It may not drastically change your life, but in the long run, it can make you feel better about yourself and you will come out of that unhealthy rut you were in. Never has being on a diet this fun before! So start a free game with your friends now and see for yourself.