To explain the hard to understand weird prize winnings so far:
$3660 in the pot, divided by 119 people who made their goal weight,
=$30.76 but then Dietbet takes $7.69 from each of these 119 people,
so we each get $23.07 while Dietbet gets $915.
A different way to look at it is: we paid $200 to join the challenge,
1/2 of that is set aside for the 6th and final round, prize winnings,
so the other 1/2 of the money=$100 is divided among the 5 rounds.
Everyone contributed therefore $20 to this round.
And the 119 people who made their goal weight each got $23.07
which is their $20 dollars back, plus winnings of $3.07
(and everybody who did not make their goal weight this round,
lost their $20 dollars). And Dietbet got $915 which is 25% of the pot.
To sum it up: the winners of this round really won $3.07
The losers of this round only lost $20 bucks
And Dietbet made $915 dollars (3660*.25).
None of this is complaining...just explaining.
And I know that the real winning is losing the weight and
changing pants sizes, and getting healthy!
...and the prize money will slowly build up to A LOT more later on.
I hope some people find this helpful...and that it demystifies it.
$3660 in the pot, divided by 119 people who made their goal weight,
=$30.76 but then Dietbet takes $7.69 from each of these 119 people,
so we each get $23.07 while Dietbet gets $915.
A different way to look at it is: we paid $200 to join the challenge,
1/2 of that is set aside for the 6th and final round, prize winnings,
so the other 1/2 of the money=$100 is divided among the 5 rounds.
Everyone contributed therefore $20 to this round.
And the 119 people who made their goal weight each got $23.07
which is their $20 dollars back, plus winnings of $3.07
(and everybody who did not make their goal weight this round,
lost their $20 dollars). And Dietbet got $915 which is 25% of the pot.
To sum it up: the winners of this round really won $3.07
The losers of this round only lost $20 bucks
And Dietbet made $915 dollars (3660*.25).
None of this is complaining...just explaining.
And I know that the real winning is losing the weight and
changing pants sizes, and getting healthy!
...and the prize money will slowly build up to A LOT more later on.
I hope some people find this helpful...and that it demystifies it.
Adam F. , Kristin W. and 10 others like this comment.
