Paid Out On Losing Bet

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Sometimes you get a large amount of money even if you did not bet that much and the odds were not that good. You can even get money to your account despite not winning or betting at all! A regular joe in that situation would happily withdrew the money. But then, it could turn out that the balance on his account is negative or his account is blocked. Someone who refuses to pay his or her debts after a bet.

If you have been on DietBet a while you may have noticed the way that the website calculates 'winnings' may be a bit different from how you calculate winnings. I know it's different from how I do! And here is why.

Paid $1.35 for every $1 we bet. So let’s apply that to a few bet numbers If we were to bet $50 on the New Orleans Saints, we would get paid $50 times $1.35, or $67.50 for a winning bet. If we were to bet $250 on the New Orleans Saints, we would get paid $250 times $1.35, or $337.50 for a winning bet. Let’s take a look now at what a moneyline bet would pay out if we are a favorite. Randall was turning 30 when he was diagnosed with high blood pressure and told to make a change in his life. He heard about the $10,000 Team Challenge from his employer and decided to participate in an individual challenge as well. He went on to lose 55lbs and won $1,100! - Randall H., Oxnard, CA.

When DietBet calculates winnings it includes your bet amounts. So if you had a $20 bet, and the payout was $30, they count that as winning $30. To me, that's winning $10 because really the other $20 was just returned to me. For practical purposes, the amount of your 'winnings' also, if you reinvest your bets into more bets, doesn't equal the amount of 'points' you have in your account to cash out.

So lets look at me for example. If you take a look over on the side, it will tell you I have won over $1160 on DietBet. Sounds pretty amazing, right? But I do I really, after all is said an done, have over $1000 from bets? NO! Not even close. Lets see how the real math works out. My first ever DietBet, back in October 2014, was a $25 bed. That was paid cash out of my back account. I continued to reinvest only from my points until August, when I put nearly ALL of the money I had into a transformer ($125, to pay up front for $25 monthly bets) but decided to join some more kickstarters, too. So I put about another $53 in from my bank account to cover those bets. So that means a total of $78 (give or take some change) of cash went into my DietBet account.

My FINAL amount in my DietBet account after my kickstarters and transformers paid out, with no more active games, was $514 and change. A lot different than the over $1000 DietBet tells you I won, right? And then, of course, I subtract the $78 investment I initially made. I turned $78 into $514 in less than a year and a half (NOT BAD AT ALL!) for a total gain of $436.

So by MY calculations, I have won (or one might argue, EARNED) $436 on DietBet. That's no small amount of money right there.

Now, this is NOT to knock DietBet! If you were to, say, win the lottery, it would be typical to just state the prize amount, not calculate for how much money you invested in buying the ticket(s). Different people may calculate their winnings differently, do they just count the prize? Do they count the prize minus how much they paid for that ticket? Do they count the prize minus how much they have spent on lottery tickets over a period of time (or their who lifetime)?

So, again, not to knock DietBet at all. Just to give some realistic expectations of what kind of winnings you can really expect. When you see a persons winnings listed, just know that is not the amount of money they have gained. That includes all of their bets, which likely includes reinvesting the same money into bets over and over (like I have) that ends up making that money be counted multiple times in the 'winnings.'

Bet365 Paid Out Losing Bet

Paid Out On Losing Between

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