According to Tamara Grand, BCRPA-certified personal training, advanced group fitness leader and the author offitknitchick.com, people are simply searching for the support they need, and these challenges provide it. The challenges motivate and keep people accountable to their goals,” says Grand, who just hosted her second DietBet challenge. Read the full article.

I haven't tried DietBet myself -- but I'm about to...I'm only looking to lose about 10 pounds, but I'm really fired up about this. And I think the more people who join, the more fun it will be. For what it's worth, I'm donating 50 percent of whatever money I win (and I will be among the winners, thank you) to Mothers Against Drunk Driving. If you want to support a charity as well, you can update your DietBet profile accordingly. Read the full article.

A study from the Mayo Clinic found that dieters offered a financial incentive were more likely to lose weight...TODAY contributor Dr. Roshini Raj was impressed with the results. 'As human beings, our brains really respond to rewards,' she said. 'Unfortunately, you would think being healthier, having a reduced risk of heart disease and cancer is the reward itself, but that's a long term thing. Money, you feel it in your pocket and you like it.' Read the full article.

I've not only gained new clients, especially since people invite their friends to join them in my DietBets, I'm also maintaining my current client base, which is what any personal trainer wants'—that she's now contemplating running a DietBet to coincide with each 'diet season,' roughly five a year. Another benefit? 'Doing these bets expands your ability to create an international or global brand,' she says. Read the full article.

DietBet users can go on the website and join a public group, or create their own private game among family members or friends. The amount of money needed to wager is set by the person who starts the game. There are many public games that charge as little as $25. The goal is to lose 4 percent of your body weight in four weeks. Read the full article.