Won my DietBet, earned $13.87

//Won my DietBet, earned $13.87

Won my DietBet, earned $13.87

I was able to lose the 10lbs necessary for a 4% reduction in 4 weeks to win a DietBet. For any interested in some statistics, here you go:

  • It was $30 to compete. My actual winnings were $43.87.
  • The “pot” was $66,210 with 2,148 players each paying $30
  • 1132 ended up losing the 4% and winning – that’s a 52% success rate
  • If you multiply the winners by the winnings you get $49,660.84
  • DietBet themselves kept $16,549.16, that’s 24.99% so… 25%
  • So the REAL winner is DietBet =)
  • I signed up for a second one a week after the first started and it has a $143,610 pot; that means DietBet made $36,000. That’s nuts.

I probably won’t be doing another one. Yes it was good motivation but $14 is barely worth it. I guess I have to be a mean guy and hope less people win the second one. If more than 3590 people win then I don’t even break even on the $30 I put in.

By | 2015-02-19T12:34:39+00:00 February 19th, 2015|Categories: Weight Loss|Tags: |1 Comment

About the Author:

Chris Bair is a computer geek and SalesForce.com system administrator for his "day job". He became involved in the powdered foods (aka "soylent") movement in January 2014, originally with a conventional recipe and later switching to a high fat, low carb "ketogenic" variant on October 2014. In January 2015 he created the recipe for Keto Chow and released it without restriction for anyone to use, at the same time he began mixing the recipe up for people that wanted a finished product and has seen steady growth in the business every month since. Chris has lived in Utah for most of his life, except for a few years living in Chile where he learned Castillian. Chris and his wife have two sets of twins with a couple singltons thrown in for good measure.

One Comment

  1. Dani February 19, 2015 at 4:34 pm - Reply

    Hi Chris, you will still get your $30 back, no matter what. Diet bet uses that money to pay all the people who “refereed” the game, and then probably keeps money for the company. But, it says in the rules that if more people win than expected, everyone will at least get their money back. So don’t worry. 🙂

Leave A Comment

Flavor of the Week August 14-August 20: 10% off sale on Cookies & Cream 2.0.1 week packsMore Info
+