Group Game: Can Losing Weight Put $ in My Pocket?

A  friend sent me a link yesterday as extra incentive to stay on my diet.  I’m  intrigued. . . I  haven’t tried it, nor am I endorsing; however the idea is interesting enough to share with everyone and let me hear your thoughts on whether this is something you would try.

The site is called Dietbets, you can join a new group online, or start your own. Basically you put money in a pot and split it with everyone who drops weight within the required time frame. Check out the video.

Definitions

1. Dietbet
   A Dietbet is a 28-day contest to lose weight. Dietbets must have at least two Players but there is no upper limit. Most Dietbets involve betting into a Pot. Other Dietbets are strictly for non-monetary stakes, or Bonus Stakes.
2. Organizer
   The Organizer initiates the game, invites Players, and sets the start date and bet amount. In Hosted games, DietBet is the Organizer. In Private games, the Organizer can also a Player.
3. Hosted Game
   A game organized by DietBet or a person associated with DietBet. These games are open to the public and players can invite their friends to play with them.
4. Private Game
   A game organized by an individual who wishes to play with friends, and friends of friends only.
5. Player
   Players are the participants in a Dietbet. They are eligible to split the Pot (if any) in the event that they meet their weight-loss goals.
6. Bet
   A bet is money paid by a player in a Dietbet at the beginning of a Dietbet. The bet is added to the Pot, which will be distributed to the winners of the Dietbet after the final Weigh-Out.
7. Pot
   The Pot is the amount of money that will be split among the Players of a Dietbet who meet their Target Weights as of Day 28 of a Dietbet. The Pot can be zero if the Dietbet is being played strictly for non-monetary stakes. If Players have bet into the Pot, the Pot is the sum of the Bets.

More information can be found on http://www.dietbet.com/