Madbid and penny auctions: better to call them lotteries
In this period if you happened to read the Corriere della Sera, Gazzetta dello Sport or La Repubblica and other newspapers there was mention of sites such as Madbid penny auctions - Penny auctions, but there are many others such as Wellbid or PrezziPazzi
After a simple registration, one buys a modest credit for example 10 euros, which grants us credits that can be spent as bets, some also offer an entry bonus in the form of free bets
Each item in a penny auction has an initial price of zero €. Once the auction has started, each person who raises the price can only raise the price by one cent (example: after 30 raises the price of the item will have risen to 30 cents), but paying some credits to do so.
They are called penny auctions or penny auctions, because you raise the price of the item during a countdown and the price rises with each bid by one cent.
Every time someone raises on the price, a countdown of a few seconds starts, if at the end of the countdown no one has raised, the last bidder in the auction gets the item at the current price, which is much lower than its real price, as they advertise on the site there are those who bought a BMW for less than 5000€.
So you'll say, I'm aiming for a second from the end and I have a better chance!
Up to here it sounds like a nice fairy tale, but in real life they often don't end happily ever after, one of the big problems with these sites are the Penny auction sniper, automated programs that bet for us, greatly decreasing the chance for the real user to win, plus there is little clarity on the method of awarding prizes
Another problem is the cost of betting, if each bid raises the price by 0.01 for a bid it takes 6 credits to raise the auction to 1€ (600 credits) we will spend 60€
This type of auction is the new down auction, with similar modalities and the same dubious reliability as the previous ones
Thanksgiving:
