Have you made your New Year’s resolutions yet? Is one of them to get in shape or lose weight? If so, there are ton of iPhone apps that can provide exercise and diet plans and help you track your workout, but there’s now one that will actually pay you for going to the gym. GymPact hit the App Store on New Year’s Day (most appropriately) and tracks your progress against your commitment –the Pact that you define– to go to the gym. If you stick to your Pact, you get paid out of funds accumulated by those who don’t meet their commitment. If you don’t stick to your Pact, you contribute to the funds to pay those who did meet their commitment.
You can create a new account through the iPhone app or at GymPact’s site. As you create an account, you define the terms of your Pact including how many times per week you will go to the gym and how much money per visit you’re willing to put at stake. For example, you could commit to going to the gym three times per week with stakes of $10 per day missed. When you go to the gym, you open the app and check in. In order to register a check-in, you must remain at the gym for at least 30 minutes, which lessens the chances of cheating.
If you don’t make it to the gym per your Pact, you are charged based on the stakes you committed through the credit card you entered at registration. The money paid by all members who did not live up to their Pacts is added together each week and and divided up among those who did meet their commitments, which can be cashed out via PayPal.
Here’s an overview video describing the whole process:
If you’re not ready to put real money on the line, you can opt in for a free trial and avoid entering any credit card details during the sign-up process. You can find more details at GymPact’s site in an FAQ.