What is a cent auction? Well, that means as possible bid on items by 1 cent increments that is obviously within anyone’s budget. No wonder that Quibids, Beezid, and the likes, have gathered record levels of customers in a short timeframe. The main reason with this uprising might be that should you win along with your penny bid, you find yourself saving about 90% on new retail items such as for instance 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 far more money than what they invest in the new items. The reason being customers have to purchase the best to bid, on Quibids, a deal of 100 bids is worth $60, that’s 60 cents per bid. 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 observe that unlike eBay, these sites do not need a certain end time on auctions, each time a product is bid on, time is included with the clock. The auction ends when nobody posted a bid for say, 10 seconds. That basically ensures that everyone has the exact same odds to win the item. On that note, let’s take the example of the iPad that went for $20. Starting the auction at $0, it took an overall 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 raise your odds by bidding repeatedly, 100 bids gets you to 1 chance out of 20 however you will 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 matter what, that’s $1,200! Since them costs them only $500 and the auction winner will still have to invest the ultimate $20 bid onto it, the internet site could make a staggering 144% profit! That is true on every item, each day, with the minimal infrastructure that comes with an online business.

It is truly a mystery why such methods are legal because if you sum it down, all they’re, are online lotteries. Bids are bets and your odds be determined by the amount of money you spend. It is important for the “customers” to realize that the dollar value of a product that’s bet on doesn’t represent anything, it’s just a trick to attract more individuals and lead them to believe they will get a good deal. The truth is, you can forget about the status of the “auction” and just think of it as a lottery for which each ticket is worth 60 cents. At the conclusion of your day, you can either get lucky, disappear, or get caught in the loop and keep playing the odds. Very much like at casinos, you will find yourself losing much more than everything you are winning. My advice: try it a few times, then visit your retail store and pay face value…

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