Today Show: Financial Incentives to Lose Weight & Weight Loss Bets

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Today Show: Financial Incentives To Lose Weight

If someone was paying you to lose weight, would it be enough of an incentive to make you reach your weight loss goals? New websites have been popping up all over the internet offering anyone the chance to earn a few bucks while knocking off a few pounds as well. Unlike the health programs and gyms out in the real world that you have to pay for before you even lose any weight, these online weight loss sites offer money to the people who wager bets on whether they think they can reach a weight loss goal.

Today Show: Financial Incentives to Lose Weight & Weight Loss Bets

Today Show looked at a study which revealed people lose more weight when given a financial incentive and they talked with three people who bet on weight loss.

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A new study of looking at the correlation between weight loss and monetary incentives has found that people who are offered money to lose weight, actually lose more weight. In the study, researchers followed 100 people between the ages of 18 and 36 who were all considered obese. They split the people into three different groups. One group would receive $20 if they could lose two pounds a month, a second group was told they would have to pay $20 if they didn’t lose two pounds every month and a third group was told to lose two pounds a month with no incentive.

After conducting the experiment over 12 months, researchers found that 62 percent of the people given incentives reached their weight loss goal while only 26 of the people given no incentive reached their weight loss goal.

Today Show: 10 Percent Challenge

Dr. Sue Varma told the Today Show she likes the new study because it shows that people can sustain the weight loss even after receiving money. Other studies were not a year long like the one above and previous studies have shown that people will gain back the weight after they receive the money. This new study proves that as long as the money continues flowing, the weight will continue to fall off.

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John is a perfect example of how money led him to losing a significant amount of weight. John told the Today Show he lost 125 pounds using a weight loss betting website. He said he participated in the 10 Percent Challenge, a challenge to lose 10 percent of your body fat in six months, and a Team Challenge where he wagered $160. After losing the weight, John said he feels great and he has been working hard to keep the weight off even though he isn’t wagering any money on his weight right now. He also said the risk of losing money has motivated him just as much as the possibility of making money.

Shelly told the Today Show she lost 100 pounds and made a profit of $400 when she did the 10 Percent Challenge. Mindy was the biggest winner on the show saying she won $1,200 doing a 10 Percent Challenge and a BMI Challenge. Mindy said she started trying to lose weight when her weight posed medical problems but she figured if she was going to lose some weight, she should try and make some money as well.

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