My understanding of the Phrase "Beta test", is a new program in its testing phase?
But what does it have to do with paying $1.67, and watching "...others join behind you"?

http://www.builditwith.167aday.com/?cid=SM&mid=12&pid=6449

Is this a Scam?

This may be a Pyramid type thing. You pay your $1.67 a day to join. That money gets split amongst some people. Now that you have joined, you share in the money paid by people after you. The more people that sign up after you, the more money gets split your way. Of course, the guy that originally set it up is making money off of every one.

My theory. I'd stay away from it.

It sounds exactly like a pyramid scheme. I would run as fast as I can from that. It probably has spyware as well when you go to the site to register.