Photo by i yunmai on Unsplash

DietBet Review: Lose Weight and Win Cash?

Some of the links may be from a sponsor. Advertising Disclosure

DietBet is said to be a way to lose weight that works.  To date, they have helped more than 980,000 people lose weight, helping them making more than $89 million in the process.

In the past, I wrote about one of their competitors, HealthyWage, but I figured I should write an in-depth review about this company as well, seeing they are just as popular and work in a similar awy.

If you need to lose weight and want to win money in doing so, then DietBet may be one to consider.  Yes, it is a gamble, but as long as you lose the weight you promised to do so initially, then it is possible to win.  Many do find it to be a motivator.

DietBet Review: Scam or Legit?

In today’s review, I will talk about how the program works, how much money you can make and how you can take advantage of it to lose weight and win cash.

As in all of my reviews, I’m always honest, only recommending programs that I personally would use. I would never promote something that I felt wasn’t worth it in the end.

With all of that out of the way, let’s dive in and see what DietBet is all about.

What is DietBet?

DietBet is operated by DietBet, a company that was founded by Jamie Rosen, a toy inventor who had the idea to use games to nudge people to live happier, healthier lives.  Aside from DietBet, the company also runs RunBet, SweatBet and StepBet, all apps similar to that of DietBet, only that it doesn’t focus on weight loss.

They note that by placing a bet, it can significantly increase your likelihood of success by making your commitment real.  Add in a supportive community and targeted micro-goals, it’s hard to not see success.  In fact, they note that close to 96% of their players lose weight.

The company was founded in 2011 and is currently headquartered in New York City.

There’s no question that the company is legitimate, but the true question is if it’s worth your time and effort?

How Does DietBet Work?

Like HealthyWage, DietBet works in a similar way and involves a series of steps, all of which I cover below in detail.

If you’re thinking about joining, DietBet is open to everyone worldwide, and the sign-up process works the same for all.  If you do succeed in getting a payout, they will reward you in your country’s currency.  The only difference, however, is that some countries cannot receive “Surprizes,” which are prizes won in some tournaments.

Choose a Game

First, you will be asked to choose from a list of games.  You can choose from games starting soon or you can pick one that offers a larger-than-average pot.  You can also pick out one with the most players.  Those groups tend to have a larger jackpot.

Before you join any group, you can see how many members are in the group, when it starts and how much you can potentially win.  In that screenshot, for instance, you can see that the challenge would start today and 144 players are currently in the group, with a $5,760 pot.  If that was a group you wanted to join, then you would click on it for more information.

In clicking on that group, this is what I would see…

It says I would need to bet $40 to keep myself accountable and lose 4% of my weight in four weeks.  If I lose at least 4% and it’s confirmed after the four-week anniversary, then I would split the pot with the other members who did the same.

When you’re looking for games, there are a ton to choose from and only you can decide which one works for your weight loss goals.

TIP:  Before paying, look for a DietBet promo code as they do float around out there.

The Types of Games

When you’re browsing those groups, you will notice different group names.

DietBet offers two types of groups you can join:  the “Kickstarter” groups, which are focused on those who want to lose 4% of their body weight in four weeks and the “Transformer” groups, which are focused on those who want to lose 10% of their body weight in six months.

The key difference here, aside from the timeline, is that the Kickstarter groups will have a one-time bet, whereas the Transformer group will bill you for five months or ask that you pay all five months upfront.  The other difference is that winners tend to lose more weight and win more cash in the Transformer group setting.

When choosing a group, just be sure to ask yourself which one you would benefit from if you were to join.  Just know the differences when choosing one.

As a note, you can participate in up to three challenges at a time in both categories.

Weigh Yourself (You Must Verify This)

After you find a group that you want to join, you will then be asked to weigh in, sending in two pictures.  After all, they will need to know how much you weigh in order to continue.

The first picture will be of your scale, with a piece of paper with today’s weigh-in word written on it.  The second picture will be of you in a full-body post on a scale with lightweight clothing on.

This is done so that the official referees can confirm your weight.  These photos are strictly used for this purpose and will not be shared with anyone else.  This needs to be confirmed before you’re even able to participate.

Start Losing Weight

After the company approves your account, you can now start losing weight.

As you lose weight, you can post photos, comment and/or even get weight-loss tips if need be.  You will find all of this in your game activity feed.  Picture it almost like Facebook, where you can share tips and encourage each other.  All of this is 100% optional, but the company does recommend you at least stay connected to help stay motivated.

As you’re using the app, you can update your weight as often as you wish, but any self-reported weigh-ins during the game are considered unofficial.  The only weigh-ins that matter will be in the beginning, when first signing up, and near the end when you weigh in for a final time.

When losing weight, just keep your percentage number in mind.  If you weighed 200 pounds in the beginning, for instance, and played in a Kickstarter group, then you would need to lose eight pounds in four weeks to qualify for the payment.  All of the information you need to know will be located on the dashboard within your app.

NOTE:  If you lose too much weight, you will get disqualified.  In Kickstarter groups, you cannot lose more than 12% of your weight, while in the Transformer groups, you cannot lose more than 12% in any round.  Refer to the FAQ for more information.

The Rules

To qualify for your payout, there are a number of rules that need to be followed, all of which you can find here.  However, to make things easier, I broke them down just to give you an idea as to what to expect while you lose weight.

  • you must weigh in 48 hours before your bet begins
  • final weigh-ins must be done within 48 hours
  • you must submit photos to prove your weight
  • lightweight clothing is necessary for weigh-ins and weight-outs
  • the same scale should be used for all weigh-ins, preferably a doctor’s or digital scale
  • you have up to seven days to receive a full refund
  • you must meet your weight goal (this depends on challenge you choose)

Weigh Out

After your final day, you will have 48 hours to weigh in to be eligible for a cashout.  Even if you don’t win, they still ask that you do so in order to confirm your weight.

Just like starting out, you will have to submit two photos, one with the keyword near a scale as well as a full-body shot with you standing on the scale itself.

Now, if DietBet feels that you’re flagged for unusual activity, then you may have to submit a video weigh-in, which is very similar to that of the photo weigh-in.  So, if you think that you can cheat the system, using Photoshop or the likes, then let it be known that you may have to use a video to confirm your final weight.

Getting Paid

Once your final weight is confirmed and you meet your goal, then you get paid.

Payments are usually sent out within 24 hours once the results are made official and the pot is divided among the winners.  Upon being paid, you will receive a notification, in which you’re paid in points.  Don’t worry, though, as you can convert these points into cash to get paid via PayPal or you can use it to enter more contests if you choose to do so.  You can also request a paper check, but this option will cost you an additional $5.

The nice thing about DietBet is that they offer the “No Lose Guarantee!”  This guarantee will ensure you that, even if you win, you won’t lose money.  They state that most winners do win money, but in the case your game has a highly unusual number of winners, then they will forfeit their cut so that you don’t lose money.  In a worst case scenario, you won’t win money, but they say you will up losing weight for free, which they consider to still be a big win.

Does it Work?

As with any weight loss program out there, you will hear both good or bad things.  The only difference with DietBet is that it’s up to you to determine how you want to lose weight.

The biggest motivator here is money.  If you were to plop down $50, would it encourage you to lose four percent of your weight over the next four weeks?  What about $150?  How much would you have to bet to stay motivated to win it back and then some?

In my research, I couldn’t find much anecdotal evidence, with the exception of the company claiming 96 percent lose weight, but I did find a lot of success stories online, which could be promising.  Most, who did join, wanted to win so that they didn’t face the embarrassment of losing their bet.  This published study did find financial incentives were good for short-term success but not for the longer term.

It’s hard to say if it works.  If money motivates you, then it may.  If not, then it may just be another diet failure.  There’s no right answer here.

How Much Can I Win?

How much you win will depend on the number of participants and how many succeed.

For example, if 100 people are in your group and $5,000 is at stakes, you could technically win that $5,000, but everyone, aside from you, would have to fail.  This isn’t going to happen.   In essence, plan 50 to 80 percent of the participants winning, with the average winner taking home double of what they bet.  This is what I have read from the many success stories.

This is an average, and can widely vary, but plan on winning about double your bet at most in many cases.

What Others Are Saying

In all of my reviews, I love to see what other people are saying, the main reason I try to include this section in every review.  It kind of gives you an idea as to what others are saying online.

Listed below, I included both the pros and cons, briefly noting what I found online.

The Pros

  • great way to stay motivated to lose weight
  • good customer support
  • supportive community
  • it’s fun and interactive
  • very easy to join
  • great app review
  • backed by a reputable company
  • low bet entry points
  • a “no lose” guarantee

The Cons

  • there are no free games
  • even if you win, you’re not guaranteed to win more than what you invested
  • low payout rate average
  • can be disqualified for losing too much weight at once
  • some groups have a lack of participation

Final Thoughts

7/10If you need to lose more than four percent of your body weight and don’t mind betting a few dollars, then DietBet makes sense.  I can definitely see it as a motivator to lose weight as you’re putting money on the line.  Even if you don’t win a ton, it’s always good to lose weight, right?

DietBet makes it easy to lose weight, they have a very supportive community, and best of all, they are 100% legitimate.  As long as you meet your goals, you will get paid, there’s no doubt about that.

Don’t expect to get rich losing weight, but winning $20, $30 or maybe $50 could be possible.  It just depends on the number of winners in your group.

Now, I leave it up to you.

Have you ever tried DietBet?

What do you think about betting on yourself to lose weight?

As always, the comments section is opened for you to sound off!

Want $5 free?

Try out Swagbucks, the most popular reward program I make the most money with. Simply answer survey questions and get paid!

Join Now to Get $5!

Tom Nathaniel

Hi! My name is Tom Nathaniel, and I created LushDollar to help share my honest thoughts on everything money. You won't find gimmicks here. It's the Internet's most honest money site after all. I graduated from Arizona State University, and I have worked in the finance industry since 2006, consulting with multiple Fortune 5000 companies.

Add comment