Dime Public sale Web sites: A good Online Lottery

What’s a penny auction? Well, which means that you could bid on items by 1 cent increments which is obviously within anyone’s budget. No wonder that Quibids, Beezid, and the likes, have gathered record levels of customers in a quick timeframe. The main reason with this uprising is probably that if you win with your penny bid, you will end up saving about 90% on new retail items such as for example Apple iPads for $20 (retail is $500 and up), Samsung LED 55″ flatscreen 3D TVs for $60 (retail is $2,000), etc…

Though it seems too good to be true, it’s very real. The bidding sites actually generate a lot more money than what they spend on the newest items. This is because customers have to buy the right to bid, on Quibids, a package of 100 bids is worth $60, that is 60 cents per bid. So if you placed one bid and won the iPad at $20, you will actually spend $20.60 on the item.

No big deal right? Let’s crunch the numbers. First, let’s remember that unlike eBay, these sites do not need a definite end time on auctions, each time an item is bid on, time is put into the clock. The auction ends when nobody posted a bid for say, 10 seconds. That basically means that everybody has the exact same odds to win the item. On that note, let’s take the exemplory case of the iPad that went for $20. Starting the auction at $0, it took a total of 2,000 1 cent bids to have there. In the event that you bid once, the probability to win this auction is simply 1 in 2,000. Needless to say, แทงหวยออนไลน์888  you can increase your odds by bidding several times, 100 bids gets one to 1 chance out of 20 but you’ll then have spent $60 + $20 with a 5% chance to have the item. Meanwhile, the internet site will receive 2,000 times 60 cents for them no real matter what, that is $1,200! Since them costs them only $500 and the auction winner will still have to spend the final $20 bid onto it, the internet site can make a staggering 144% profit! This is true on every item, each day, with the minimal infrastructure that comes with an online business.

It is really a mystery why such methods are legal because if you sum it down, all they are, are online lotteries. Bids are bets and your odds rely on the cash you spend. It’s important for the “customers” to understand that the dollar value of an item that is bet on does not represent anything, it’s merely a trick to attract more folks and lead them to genuinely believe that they will get a good deal. In fact, you can forget about the status of the “auction” and just consider it as a lottery which is why each ticket is worth 60 cents. By the end of your day, you can either get lucky, leave, or get caught in the loop and keep playing the odds. Very much like at casinos, you will then end up losing a lot more than what you are winning. My advice: try it a couple of times, then head to your shop and pay face value…

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