WayBetter

WayBetter operates a mobile application platform focused on health and wellness, utilizing a distinctive combination of gamification, social accountability, and financial incentives to drive user behavior change. The company was founded in 2011 by Jamie Rosen and Matt Daniel, with its headquarters in New York. Rosen, the current CEO, has a background as an inventor and entrepreneur; he previously founded Comet Systems, which he sold for $33.5 million, and also sold a patent portfolio to Yahoo!. His inspiration for WayBetter came from observing the motivational power of an office weight-loss competition.

The core of WayBetter's business is its app, which hosts a variety of games and challenges centered on nutrition, fitness, and mindset. The business model is direct-to-consumer, generating revenue primarily by taking a percentage (between 15% and 25%) from the total pot of each game. Users commit their own money, typically around $40, to join a challenge with specific goals, such as weight loss or achieving a certain number of steps. Those who successfully complete the challenge split the pot, which consists of the money from participants who did not meet their goals. This financial stake serves as a key motivator. The company also offers optional subscription fees for additional features. The platform is designed to be a social experience, creating a supportive community where participants can share progress and offer encouragement.

WayBetter's product portfolio includes several key games. "DietBet" is a weight loss challenge where users bet on themselves to lose a percentage of their body weight over a set period. "StepBet" motivates users to increase their physical activity by meeting personalized daily and weekly step goals, which can be tracked using compatible devices like Fitbit, Garmin, and Apple Watch. Other games like "RunBet" and various mindset challenges are also available. The company has expanded its offerings to support individuals using GLP-1 medications for weight loss by helping them build sustainable habits. To ensure fairness, WayBetter requires participants to verify their progress, for instance, through photo submissions for weigh-ins. The company's methodology has been the subject of academic research, with partnerships with institutions like Brown University, and results published in peer-reviewed journals.

Keywords: health gamification, wellness challenges, financial incentives, behavior change app, social fitness, DietBet, StepBet, Jamie Rosen, weight loss motivation, mobile health, habit formation, accountability app, corporate wellness, fitness betting, digital health platform, nutrition games, mindset challenges, GLP-1 support, peer-reviewed wellness, activity tracking games