Dime Market Sites: A great Online Lottery

What’s a dollar auction? Well, that means that you could bid on items by 1 cent increments which can be obviously within anyone’s budget. No surprise that Quibids, Beezid, and the likes, have gathered record amounts of customers in a brief timeframe. The main reason because of this uprising is probably that if you win with your penny bid, you can become 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 is very real. The bidding sites actually bring in far more money than what they spend on the brand new items. This is because customers have to buy the right to bid, on Quibids, a package of 100 bids is worth $60, that’s 60 cents per bid. If you placed one bid and won the iPad at $20, you’ll 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 certain 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 ensures that everybody 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 a complete of 2,000 1 cent bids to get there. In the event that you bid once, the probability to win this auction is actually 1 in 2,000. Obviously, แทงหวยออนไลน์888  you can increase your odds by bidding many times, 100 bids gets one to 1 chance out of 20 but you’ll then have spent $60 + $20 with a 5% chance to get the item. Meanwhile, the website will receive 2,000 times 60 cents for the item no real matter what, that’s $1,200! Since the item costs them only $500 and the auction winner will still have to invest the ultimate $20 bid about it, the website could make a staggering 144% profit! That is true on every item, every single day, with the minimal infrastructure that comes with an online business.

It is actually 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 be determined by the money you spend. It is important for the “customers” to realize that the dollar value of an item that’s bet on doesn’t represent anything, it is merely a trick to attract more folks and lead them to believe that they will get a good deal. In reality, you can neglect 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, walk away, or get caught in the loop and keep playing the odds. Very much like at casinos, you will then end up losing a whole lot more than that which you are winning. My advice: test it a couple of times, then visit your retail store and pay face value…

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