Competition between friends?

Yesterday I got a facebook message from a good friend of mine in town who I go on walks or hikes with about once a week. She and another friend of ours are thinking about doing a 3 month long "biggest loser" style weight loss contest, and wondered if I would like to join. Everyone would put $50 in the pot and whoever lost the highest percentage of body weight at the end of 3 months would get the total in the form of a gift card for massage or spa type treats.

I had mixed feelings about joining in. I've told that friend what I weigh before, so I don't think that's the issue really. It's more a reluctance to be in a competition with friends, and over something so personal. And, $50 is a lot of money to commit to anything non-necessary for me right now. On the other hand, maybe it would be a good motivation toward my goal and provide more incentive when I'm making the little daily decisions to make the right decision.

Anyway, I wrote back, said I "might" be interested and asked her when they were planning on starting. I would guess at the beginning of next month. I'm heavier than both of them by quite a bit...which could be both a blessing an a curse. If I lose 2 pounds per week for the whole time, that would only be about 7% weight loss, but if they lose 2 pounds per week for the whole time, that would be more like 9% for one and 12% for the other. On the other hand, it is supposed to be easier to lose larger amounts of weight the further you are from your goal. Like the 1% rule; for the average person 2 pounds per week is the maximum rate of loss you want to have to lose it healthfully, but for me right now, 3 or 3.5 pounds per week would be alright because that's only 1% of my current weight. But I don't often lose 3.5 pounds in one week.

Another thing that troubles me is my own instant temptation when money is at stake, even a relatively small amount between friends, to cheat somehow. I doubt I really would... but it bothers me that it would even occur to me. Like overdoing on salt before the first weigh-in to bloat myself. What a thought! Ugh.

If I do this, I'm going to do it the right way and be completely honest with myself and them. Do my best, but not go overboard. Just use it as incentive to step up my workouts and dietary decisions.