Myfitspiration's Diet Bet Challenge

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Have you used Dietbet before?

Brenda1636
Brenda1636 Posts: 36 Member
in Social Groups
Hello everyone! I've seen that a few people have used dietbet before. I am new to it. What has your past experience been with dietbet?

Thanks for sharing!

Replies

  • SkinnyRuthy
    SkinnyRuthy Posts: 154 Member
    I have not, but I have read on Dietbet that they take a percentage out of the pot, so it's not a split of what's actually in the pot now---I think they take out 15% before they split the pot, so that definitely brings down the amount that we would receive depending on how many people actually lose 4%....
  • dparent01
    dparent01 Posts: 35 Member
    This is my third DietBet challenge. I love it! It keeps me motivated and gives small goals that are attainable. When you have a lot of weight to lose, like myself, it can become overwhelming. Having these smaller goals has been great. I have won both of my previous bets (just squeaking by). DietBet does take a cut off the top, but my last bet was $20 and I got back $40.64. Remember, not everyone will meet the challenge!
  • Brenda1636
    Brenda1636 Posts: 36 Member
    Thanks for sharing! Yes, I read they take a cut off the top. They need to fund their website somehow.
  • grandmacar
    grandmacar Posts: 14
    This is my first time on DietBet. I am so excited. I think the chance to get your money back or a little more is an extra motivation that I needed now.
  • mljacobs23
    mljacobs23 Posts: 38 Member
    This is my second. Put in twenty last time and got back 40.67. From what I can tell from other friends that have done them more regularly, that's a fairly standard payout.

    From the dietbet website:

    "DietBet keeps a cut of the gross pot to cover our expenses, which include financial transaction costs for both the initial bet and the payout, weight-verification staff, customer service, and technology support. Because DietBet's fees are taken out of the gross pot before paying out the winners, players who do not win do not incur any fees. The fee to play is 5-15% of the payout depending on the amount of the initial bet."
  • Brenda1636
    Brenda1636 Posts: 36 Member
    I have a friend who started her own because she wasn't able to participate in this one. If anyone is interested, it starts on March 31. Here is her link:

    http://www.dietbet.com/games/11524

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