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I Won My First Dietbet!!!

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I made 4 bets totaling $125+ on Dietbet.com.  Those bets generally were me saying that I could lose 4% of my overall weight within a month.  The first bet ended this past Monday, July 17. 

My First Bet

I started at 175.4 and needed to hit 168.4 in about 3 weeks since I entered this $35 campaign a week after its official start time. 

My plan of attack was to track my food intake using My Fitness Pal (a free app) and change very little else.  I already strength train with a neighbor friend, Debbie, twice a week.  My cardio is usually infrequent and with friends like William and Dee.

About 6 days into this first bet, I felt pretty dumb.  7 pounds in 3 weeks is 2.34 pounds per week.  I usually lose 1-2 pounds a week during a diet.  Plus my weight fluctuates 1-3 pounds every day.  So I would need to truly have no cheat days and hope to get lucky during the 48 hour final weigh-in period at the end if I was super close to the 4% mark.

I was super close.

Final Results

The final weigh-in needed to be submitted sometime between Monday early morning and Tuesday late night.  My Monday and Tuesday were booked up with pet sitting and I retain water when I’m stressed, so I did my weigh-in 15 minutes after the closing bell of the campaign…at 2:15am on Monday morning (I’m in the Central Time Zone). 

I changed into the same outfit I wore for the official weigh-in, pushed the button to start my final weigh-in process, wrote the requested test word on a piece of paper, grabbed our scale, and walked myself up to my husband’s office.  I asked him to take my full body photo since we don’t own a full length mirror.  Then I took the photo of the scale from my perspective on top…

*drumroll, please*

168.2

Yep, you read that right.  I beat the 4% mark by 0.2 pounds.  I sent in those pictures and my final scale result and then crossed my fingers that nothing would go wrong. 

I had the email of congratulations for winning by the middle of Monday.  Then I waited out the rest of the 2 days for everyone else to submit their stuff.  On Wednesday night, I received the email with the final total we would all receive…

$47.31

So, I made back my initial $35 plus $12.31.  Out of 1523 players, there were 845 winners.  Dietbet kept 25% of the total pot and the 845 of us that hit the 4% loss goal divided the rest.

My Feelings About It All

Yay for losing the 7 pounds but $12.31 is definitely not a WHOO-HOO amount.  I’m supposed to be happy that I basically got paid to lose weight, but I was expecting a bit more cash for all the extra mind space this used for the last 3 weeks.  So, I stick out my tongue.

The Rest of My Bets

My other two 4% campaigns (aka Kickstarters) end next week – July 24 and July 26.  The first round of my 6 month campaign (aka Transformer) ends July 27 – that campaign has an overall goal of losing 10% but breaks that down into small monthly goals that also can win smaller parts of the pot. 

I just need to keep off the weight I already lost or lose some more (but no more than 12% of my starting weight) to claim winnings in all three pots by next Thursday.  Then I will simply keep going for the 6 month campaign since I am so annoyed with Dietbet right this second that I refuse to lose any money at all.  It’s either win every pot I entered so far or get pregnant so I can get a refund and withdraw from the last months of the Transformer bet without ever letting anyone keep a cent of my $125 plus the ongoing monthly $25…

I’m not sure if I’m annoyed because Dietbet keeps so much of the money or just because I was expecting to nearly double up and didn’t.  Probably that second part…  I’m weirdly proud of whoever created Dietbet and the big bucks they’re raking in just because people like me need some monetary motivation to stop eating so much junk food and/or to exercise more.

Positive in General

In the end, I did lose 7.2 pounds and got paid $12 minus Paypal fees for doing that.  A 33% rate of return to lose weight should probably not be pooped on by little ol’ me.

For anyone else who may be interested, I read on other sites that you can make very similar money on the $10 and $15 Dietbets.  Fewer people stay in when they have very little on the line, so a $10 bet can turn into $25 even after Dietbet takes a cut. 

Yep, great info to come across after throwing $125+ against to wall to make a diet stick…hehehehe.



FYI:  I worked at a dead end cubicle job from 2005-2011 for about $30,000 per year.  I went self-employed in July 2011 and make between $70,000-$90,000 through blogging, professional pet sitting, hubby's reffing, and our rental home.  If you’d like to start your own site (link to my free step-by-step guide), I highly suggest checking out Bluehost (my referral link with a nice discount for you, PLUS a free custom header banner from me!).  Please contact me any time at budgetingfunstuff*at*gmail*dot*com with questions or just to brainstorm! I’d love to help!
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9 thoughts on “I Won My First Dietbet!!!

  1. Interesting. I’m glad you made it but I really am not a huge fan of using money as a motivator for health (as it seems you really aren’t either tbh). For me it’s the same as with money, I like looking at a spreadsheet and at a graph or two and seeing progress. Of course with weight loss you want the graph to go lower, opposite of your net worth graph.

    In any case, keep it up!




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  2. Congratulations! I actually do like financial motivators to keep me going. I was using the Pact app to help me stay motivated to work out every day, but they recently shut down, so boo.
    One trick that really helps me is to just weigh myself every morning and record it, before I get dressed and eat food. Just knowing how much I eat/work out the day before affects my weight seems to subconsciously impact my food intake for the rest of the day.
    Best of luck to you! You’re doing awesome 🙂




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  3. COngrautlations! Atually $12 is pretty high. THe most I ever got was $15. I’ve done it before. I think the six month one is $125 up front, or $25/month…not $125+25/month. Or at least that’s how it was when I did it.
    I’m doing the StepBets right now. The problem with those is that as you walk more, your goal for future bets increase. Some people have goals of 30k steps/day. For perspective, it’s not hard for me as a teacher and person who walks nearly everywhere to get 10k/day when I’m in China where people are super active. I’m in WI now and it’s so hard to get past 6k/day right now. TOo much driving because this city is too spread out. (35,000 people in the same area that you can get about 1million in China…no joke!)




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  4. Congrats on losing the weight and winning the bet. A few years ago I bet $3000 to win $600 that I’d lose 30 pounds in six months. I needed that high of an amount to motivate me. I did win the bet, but gained the weight back pretty quickly afterwards. I guess I need to find different motivation to lose weight.




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  5. Yup, the $10 ones never worked for me. Ugh! So I’ve never gotten a payout :p It’s like throwing money away. I still don’t have a clue what motivates me LOL I feel like this week I have been slowly upping my game though, as far as being active goes. So yay me. And yay you! You got this.




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  6. @Money Beagle, graphs don’t work well for me either. Honestly, my main motivator has been that I had gotten down to only fitting into 2 pairs of my jeans and my yoga pants collection. I own 10 other pairs of jeans and pants and refused to buy any new ones…this week, I fit into at least two more pairs of my jeans. Another month like this and my whole wardrobe will look great on me again. I hate clothes shopping (most in store shopping really).

    @Lindsay, I tried that out these last few days and it did help remind me not to binge just because I won this one contest…

    @Charlotte, that was a badly worded sentence. I meant the initial $125 of 4 different bets (3 Kickstarters and the Transformer) plus the ongoing $25 each month for the Transformer one. I’ll go clear that up, thanks!

    @Charlotte, StepBet would drive me nuts because no device ever has tracked my steps correctly. I apparently bob sometimes and not others…so annoying. I do think that all the driving I do for pet sitting is screwing up my aerobic activity (WI sounds really spread out!). If $12 is a great payout then my expectations were way too high (like doubling up).

    @Andy Hough, I lost 30 pounds in 2011 and gained it all back…crappy feeling, sorry. Maybe your motivation can be like part of my new one – feeling stronger. I don’t want to give in to aging yet…

    @Helen, well, my motivations have been to fit into all my clothes again and to get strong enough not to ever need to ask for help for 1 person jobs. I helped my friend, William, move this past week, and I was really proud that I was able to carry boxes down 3 flights of stairs and up a new flight for a few hours. It is like being your own mini-superhero. Empowering.




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  7. Still the money that you made is a greater return on your money in one month that you would get in any other investment and it worked to get the weight off. I did one dietbet in January, won it, then decided to join two at the same time in February to get the rest of the weight off. Won those two and my winnings for all 3 were $40. Not bad. And hit my goal weight. Have kept it off (I go up a couple pounds then bring it back down). Track your food. It works for me and I get derailed when I don’t track.




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  8. @Louise, good points! I’m actually hosting another Dietbet that starts Aug 1 because it really did help! Did you know about the Maintainer Dietbets? You stay between 4% down and 2% up and win for 12 months straight. When I hit my target weight, that’s what I’m joining.

    @Oliver, yeah, I’m much more enthusiastic about it now. 🙂




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