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.
Chris Bair is a technology and computer geek. He became involved in the nutritionally complete "future foods" 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.
