Gambling odds are rarely in your control; unless, of course, you're betting on your own weight loss. The New York Times reports that diet betting is gaining popularity among co-workers and friends, because money fills the lack of motivation blocking the road to weight loss for many. Nobody likes to lose money, and the whole idea surrounding diet bets is that you have to pay if someone else loses more weight than you.
Research has shown that weight loss goals fueled by financial incentives are typically more successful than when money isn't part of the plan. With the idea that people are adverse to losing money, the website StickK.com is a place where individuals' credit cards are charged for weeks when users don't meet their goals. It's a similar concept to diet betting, but you're not competing with your peers.
I can see how diet betting would encourage someone to lose weight, but if not losing money becomes more important than actually losing weight, I wonder how many people keep the weight off once the financial incentives are no longer there. What do you think of diet betting: cool or not?