DietBet, a New York-based startup launched in June 2012, offers a platform where users can create and join bets to lose 4% of their body weight in a four-week period.

The appeal of DietBet lies not only in the financial incentive — winners split the collected money among themselves — but also in the fact that it provides a social and motivational platform that aims to combat the dreariness and often unsustainable nature of conventional dieting. "For most people, going to the gym just isn't that fun," Matt Daniel, DietBet's VP of Business Development, said. "We wanted weight loss to be a fun and social experience. That way, more people will stick with it."

DietBet will often feature high profile bloggers, authors, or fitness coaches to initiate games, which can garner a high following. Currently, DietBet is featuring its largest pot yet, which is approaching $150,000 and is organized by Cassey Ho, a Pilates and fitness instructor as well as the creator of Blogilates.

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Once players join a game, participants can post motivational quotes, healthy recipes, and workout tips. Various forums are available for players to ask questions to dietitians, fitness coaches, and physicians.

Dangerous behavior is flagged and discouraged. "If you lose more than 12% [of your body weight in four weeks], you’re disqualified,” Jamie Rosen, the founder and CEO of DietBet, explained. Players also have to indicate their BMI to ensure it's not too low.

Although the creators have tapped into the "social dieting" trend that is well-known from organizations such as Weight Watchers and have included the competitive aspect that's been embodied by TV shows such as The Biggest Loser, their approach and philosophy is a little different.

“We intentionally designed it not to be cut-throat,” said Daniel.

"It's much more of a collaborative effort. There's not just one winner and a bunch of losers,” said Rosen.

DietBet is still a small business, with only four full-time staffers in New York and a shared office space in Manhattan, shown below. But DietBet's methods seem to produce results: Over 90% of people playing in a game lose weight, and "between one-third and 40% of people who play in a particular game win [money]," Rosen said. "Winners on average lose nine pounds and double their money."

Image by Mashable, Luisa Rollenhagen

Now, the creators are looking to expand this collaborative, yet competitive, form of social dieting. While searching for ways to create more sustainable weight loss habits, the idea for DietBet 10, and consequently DietBet 0, was born.

DietBet 10 will feature bets over a six-month period, with the ultimate goal of losing 10% of body weight. A 10% loss is "a significant number, from a health standpoint," Daniel said, citing lowered cholesterol levels and other health benefits. DietBet 10 hopes to launch in beta mode sometime in the fall of 2013.

DietBet 0, which is still in a conceptual stage, will offer a platform for sustainable weight maintenance, not loss. It will continue offering support, tips, and tricks through a social platform.

Homepage image courtesy of Flickr, Elvert Barnes