In this blog:
- Betting $1,266.00 on Myself
- Week 6 Weigh-in
Betting $1,266.00 on Myself
I’m keeping things fun, interesting and definitely upping my level of self awareness when it comes to my weight by placing a total of 7 different bets which now total $1,266.00. This could possibly be confusing and it’s taken a while for me to wrap my head around it all but, I guess that is part of what makes it all interesting. These money bets have been placed using two different websites so, I’ll take each one in turn.
People are only allowed to make a single bet on this website once. The bet is to lose a certain amount of weight in a certain amount of time for a certain amount of money.
The parameters are that the time frame is anywhere from 6 months to 18 months and the bets can range anywhere from $6 to $500 per month. The amount of weight to be lost is up to the participant.
I’ve set a target weight of 212 lbs in 18 months or, by June 26th of 2016. Since any bet beyond $750 yields the same return – namely $16 per pound, I decided to minimize my risk (as well as upping my yield) by dividing that 750 by 18 months which comes out to about $41.67 per month. Only round dollar amounts can be bet so I’ll be betting $42 per month. There is an option to pay all the money up front or to make automatic monthly payments. I’m doing the monthly payment option. As long as I win this bet then it’s a pretty cool & very profitable kind of savings account. My personal payout badge is shown below along with my potential prize.
At $42 per month, my total investment will be $756.00. That $2036.00 figure would be getting my original $756 back along with an additional $1,280.00. That’s a return of 169%.
There were many factors that went into choosing a final weight as well as the time frame. Enough factors that would take up a very long blog posting in itself. In short, however, I picked the 212 final weight because …well, for one thing, it wasn’t nearly as scary as picking a 204 weight. But, a little over 10 years ago I know I was at a bodyweight of 222 when I benched 515 lbs. That’s about the only weight I remember from back then and 212 is at least within striking distance of that weight. I know at 222 there was still some flab that could have been trimmed so the 212 weight goal pushes me beyond a previous best without getting too ridiculous.
The 18 month time frame was picked for a couple main reasons. A big reason is because of the other website where I’m placing bets and we’ll get into that in a bit but, another reason for the 18 month time span is to help maintain awareness of my weight. I know that if I don’t do something, like this blog for instance, that I simply won’t be thinking or caring about my weight and my weight will increase. I think this was pretty well demonstrated during the last couple months of December and January, maybe November too a bit.
That $42 per month is also going to show up on my banking statement and that will be an extra reminder to pay attention to my health.
Almost forgot – I get an extra $20 for anybody that I refer to the HealthyWage.com website that signs up for a wager of their own – just use this link: http://www.healthywage.com/referral/healthywager/name-your-own-prize/75264742700057 which will open up in a new window! 🙂
This is a really cool website and a lot of fun. HealthyWage is great for making a big bet and being able to win some serious cash but it’s lacking in any kind of a fun forum to be able to interact with fellow participants. DietBet, on the other hand, has an Activity Wall for each game which is a lot like Facebook but it also has a lot of other features which makes it even more fun for people working to improve their health. There’s literally so much, I’m not sure where to start. There are two basic games which can be played on DietBetter.com, one is called the Kickstart and the other is called Transformation.
Kickstart – DB4
The objective for this game is to lose 4% of your body weight in 4 weeks. It’s commonly referred to as DB4 which refers to the Diet Bet 4% game. There are dozens of DB4 games to choose from on the site. Some have a hundred participants and some have thousands. The most common wager is $25 to $35 per person. At the end of 4 weeks, everybody who lost 4% splits the pot.
I’m currently in three of those games right now which all end between Feb 28 and March 2nd. Two games are for $30 each and one is a $100 game.
The hundred dollar game is called Bet Big to Win Big and has 130 people in it. Another game I’m in is called ObesetoBeast. It has 578 players and the guy hosting that game is somebody who lost 170 lbs themselves. Their theme is Obese to Beast, hence the name of the game.
The largest DB4 game I’m in is called …(I’m almost embarrassed to say this) the Blogilates Hot Body Challenge. In spite of the name, it’s got 4,718 players and a total jackpot of $141,540.00. So far, all us players have lost a total of 4,654 lbs.
Transformation – DB10
This game involves dropping 10% of your bodyweight in 6 months. The game consist of 6 one month rounds with a specific weight drop objectives each month. The gray diamonds in the graph below represent the specific goals for each month.
For each month the cummulative weight loss goals are 3%, 6%, 8%, 9% then 10% for the final two months. From what I understand, half of the total pot is split up between the first five rounds with the remaining half divided up at the end of the 6th month. Below is a screenshot from the Feb 5 to Aug 4 Transformation game. It’s what each player sees on their dashboard.
I’ve never done anything before with specific weight objectives and these are pretty reasonable goals to obtain. When I looked back over my data in last years 12 week contest, I threw out the weight losses in the first and last weeks to consider only the data in the middle 10 weeks which represented the most legitimate weight loss and that came out to 32 lbs in 10 weeks or, 3.2 lbs per week so, even half that effort should keep me in line with the above goals for each round.
So, right now I’m in three DB4’s and two DB10’s. You can join a DB10 game up to 14 days after it starts and do a verified weigh in up to 48 hours before a game starts. The 14th day of a 6 month game that started Jan 21st just happened to coincide with 2 days before the Feb 5th game started so I joined them both.
Also just signed up for another DB4 game which starts on the same day as one of these other 4% game ends which will make for some totally legitimate weight loss since I’ll be using my ending verified weight for one game as my beginning verified weight for the next game.
All in all, it’s a really cool & fun site.
Week 6 Weigh-in
I’ve tried to clean the wallpaper up a little for 2015 by having one single month per line. I’ve added in all the various bets to help keep track of them easier. Most end around the same time so it shouldn’t be too difficult. The black borders along the sides are so my desktop icons are easier to see and don’t obscure the weigh in data.
For now, I’ve just added the Russian Cyrillic alphabet to the right of the wallpaper. I think I’ve mentioned my foreign language interest before. Duolingo.com is a site I have an 84 day streak going with in German. From what I’ve read in the forums the lessons are like (or even better) than Rosetta Stone but free which is a great price! The language courses themselves on duolingo are generated by users of the site and often native speakers. The website ultimately makes money when students become proficient enough to start translating documents from one language to another. Kind of clever. 🙂
It’s sort of like a fun game and doesn’t take too much time per day. I’m currently at level 10 in German with a vocabulary of 308 words. I’ve also played around with French, Italian and Spanish but am really anticipating the completion of Russian which is currently at 62% completion.
For now, I’ve been working at developing some proficiency with the Russian alphabet which has 31 characters plus an additional two symbols which designate either a hard or soft sound. Memrise.com is the site I use for that.