Product Overview: DietBet
What is DietBet?
DietBet is an innovative online platform designed to motivate users to achieve their weight loss goals by combining financial incentives with a supportive community and scientifically-backed approaches. The platform operates as a weight loss game where participants bet on their ability to lose a specified amount of weight within a set timeframe.
Key Features and Functionality
Types of Games
DietBet offers two primary types of games:
- Kickstarter Games: These are shorter-term games, typically lasting 4 weeks, where participants aim to lose 4% of their body weight. The average bet to join is around $35, and users have a 14-day money-back guarantee.
- Transformer Games: These games require a longer commitment, spanning 6 months, with the goal of losing 10% of body weight. Users can either pay $35 monthly or $175 upfront, which includes the sixth month free.
How it Works
- Join a Game: Users select and join a game by placing an initial bet.
- Weigh-In: Participants submit their starting weight through a two-photo validation process, which includes a full-length photo and a photo of the scale’s readout with a time-specific “weigh-in word” to ensure authenticity.
- Play and Lose Weight: Users have the specified timeframe (4 weeks or 6 months) to achieve their weight loss goal. The platform allows for self-reported weigh-ins during the game to help users stay accountable.
- Weigh-Out: At the end of the game, users have 48 hours to submit their final weight. Winners must provide verified photos for weight confirmation.
- Win Money: If the weight loss goal is achieved, users receive a portion of the total pot, which can be cashed out via PayPal or rolled into another game.
Verification and Security
DietBet uses a rigorous two-photo validation process to verify weight loss, ensuring the integrity of the game. Each weigh-in submission is individually reviewed by DietBet Referees.
Additional Features
- Supportive Community: DietBet fosters a supportive environment where users can share tips, post photos, and invite friends to cheer them on.
- Scientifically Backed: The platform is based on behavioral change research from reputable institutions like the University of Pennsylvania, Brown Medical Center, and the Mayo Clinic.
- Low Point of Entry: Games can be joined with bets as low as $10, making it accessible to a wide range of users.
- Quick and Easy Payouts: Winners are notified and paid out within 24 hours of the final weigh-out period, with the option to cash out via PayPal or apply winnings to another game.
- Money-Back Guarantee: DietBet offers a 14-day money-back guarantee for new users, ensuring a risk-free trial period.
Success Metrics
DietBet has helped over 750,000 people lose weight and has distributed over $62 million in winnings. On average, users lose around 9 pounds and win between $50 to $60, which is typically 1.5-3 times their initial bet.
Conclusion
In summary, DietBet is a unique and effective platform that leverages financial incentives, community support, and scientific principles to help users achieve their weight loss goals, making the process both motivating and rewarding.