TechCrunch | GymPact Launches To Help You Keep Your Fitness Resolutions (By Paying If You Don’t).

Americans spend $50 billion each year on products and services designed to help us lose weight and get in shape. We’ve seen a host of startups proposing alternative methods to encourage us to stick with out fitness regimens, and today GymPact is launching a website and iPhone app that uses those old behavioral economics to help us to do just that.

Simply put, GymPact is a check-in app that offers cash incentives to get you off the couch and into the gym. The service gets you to create a “Pact” over how many times you’ll make it to the gym over the course of a given week, and how much money you’ll be willing to fork over if you don’t meet that goal. When users live up to their pacts (by way of checking in at the gym on their phone), they earn cash rewards, paid for by those lazy people who didn’t fulfill their quotas. If they don’t, they pay that $10 to the community.