But he did. And he also raised €34,000 for charity at the same time.
Lynagh who is originally from Co Armagh but now lives in Australia was a self-confessed player, having one-night stands with as many women as possible.
But the 33-year-old became tired of his party lifestyle and told his best friend Marty his new plan: “I’m going off it for 12 months — no more chicks, no more sex, no more nothing.”
Marty rolled about, laughing: “You? Don’t be ridiculous! You couldn’t last a week!” and said he would give Lynagh €1,300 if he managed to remain celibate for a year.
Lynagh accepted and decided to use it as an opportunity to raise some money for charity as well. He set up a Facebook page called Pete’s Chastity for Charity and raised more than $50,000 (€34,000).
The bet began on January 1st 2013 and he did admit that it nearly went pear-shaped after a couple of months but the woman he was with stopped it from going any further.
Fast-track to a year later and Lynagh had won the bet.
He gave all of the money he made to Free to Shine, a charity which aims to bring young Cambodian girls out of the sex trade and into schools.
He then spent two weeks working with the charity in Cambodia, spending time with the children there.
Asked if he would ever take the challenge again he said: "I don’t think I would do no sex again for a year, I would like to do something else crazy and out there and different."
You can find out more about Lynagh's travels and charity work here: www.facebook.com/peterlynaghofficialpage.