It sounds too good to be true, and depending on how you look at it, in a way it kind of is. You are basically wagering that you WILL lose a certain amount of weight, and the website is betting that you won't. For me, shelling out money really makes me want to set and stick to my weight loss goals! There are quite a few studies out there that show an increase of weight loss in people that have either wagered money or are being offered money to lose weight. It makes sense, no one actually wants to lose money.
If you know that you are going to be trying to get healthy and shed a few pounds this year, these sites may help keep you accountable and make you a little cash while you are at it.
Sign up, enter the number of pounds you'd like to lose, how much you'd like to wager per month and how long you will take to reach your goal. You can enter a team challenge, or bet on yourself. The site has a calculator to help you determine what you would "win" based on the amount of weight you want to lose, the time frame and the amount you are wagering per month.
Winnings are paid via Paypal, check or Amazon credit if you meet your goal.
DietBet allows you to join bets for as little as $10 and is very community oriented. Create a challenge of your own, or join a pre-made challenge like "The Transformer" - $25 monthly bet. Lose 10% of your body weight in 6 months. Add your monthly contribution to the pot for a chance to split the winnings at the end with everyone that has participated and met their goal. Some challenges have "monthly pots" and other fun stuff, like a "Surprize" every Thursday, where a player or players has a chance of winning a fitness related prize.
DietBet is a lot of fun and the camaraderie aspect paired with the risk of losing money can really help with motivation.
Winnings are paid via Paypal if you meet your goal.
Pact is an app, available for iOS and Android. You basically make a pact and are rewarded if you stick to it and you lose money if you don't. Your money will go to other Pacters that DID stick to their goals. Pact has three types of goals: logging your food, going to the gym and eating your veggies.
You do have to keep a credit card or your Paypal account on file with the app to keep participating. According to their website, most people earn between .35 cents to $5 weekly and you do have to reach the $10 minimum to be paid out via Paypal.