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Swoopo, most genius idea ever for gambling? |
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Background: I am probably the BIGGEST sucker out there when it comes to trying to find a good deal on an item and just LOVE sites like WOOT and Amazon (which I literally go to everyday).
So today Im doing my casual thing researching online and I find this Gem of a site called "Swoopo"
I am SOOOO tempted to try it out but dunno if its worth it. anyone ever won a bid from this?
Sources say this is almost basically a gambling site where you gamble that your the last bidder and get the item for super cheap at the expense of everyone else, LOL (sry, but this is just so hilarious to me, especially if i am the winner).
heres a description from wiki:
Customers buy bids in advance (costing $0.75 each in the US, or 50 pence in the UK). Most "auctions" begins at $0.15 or 8 pence, and increase by the same amount with each "bid". Some items, known as "penny auctions", only increase by $0.01 for each bid, but still cost contestants $0.75 per bid. Each bid also increases the auction's end time by 2 seconds. Although the contest winners often pay a low price, Swoopo earns money from the bids placed.[8]
For example, if an item in a "penny auction" retails for $1000 sells for $80, 8000 bids must have been placed. For these 8000 bids (at $0.75 each), Swoopo earns $6000.
In $0.15 auctions, Swoopo receives more than the retail price for the item from bidders as long as the final price is above 16.7% (one-sixth) of the retail price. This is because for each $0.15 of the final price, Swoopo is paid $0.90 total ($0.15 by the winner of the item plus $0.75 by a bidder). Because $0.90 ÷ $0.15 = 6, Swoopo is paid 6 times the final price each item in a $0.15 auction.
In one auction, bidders paid $27,674.75 for a $1300 item.[9]
Swoopo sites are all the same worldwide. For example, UK Bidders will be bidding on the same items as a Bidder in the US. This enables round-the-clock bidding, which means that bidding during the night does not significantly increase one's chances to win an item.
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| Just do whats right | Last edit: 16/03/2009 09:33 |
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Countdown until im busto from going on a bidding spree? lol |
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lachlan Australia. Mar 16 2009 09:48. Posts 6991 | | |
i can see that ruining lives seriously lol
two ppl get attached to an item and sit there minraising eachother for the next few hours |
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Balzamon Sweden. Mar 16 2009 10:17. Posts 2868 | | | |
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Zep United States. Mar 16 2009 11:20. Posts 2292 | | |
this site is fucking genius, they must be raking in so much cash. |
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| NeillyJQ: I really wanted to prove to myself I could beat NL200, I did over a small sample, and believe Ill be crushing there in the future. | |
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keuner Germany. Mar 16 2009 12:11. Posts 1535 | | |
i tried that and i can promise you that its very hard to get it very cheap!
i just dumbed 150€ for nth lol iam so bad! first time it lagged when the countdown said "2" and the other times i didnt expect that the auction ends that soon(so save me some bids) just for fucking netbook worth 350€ lol
i would avoid this!
i also dont get it how to win with their butler! they say 90% wins auction when they use it! but in no way i can believe that! if u say bet until 100€ and someone else is in doing the same it insta snaps to 100€ and the auction is going for another 20mins or stuff! so i avoided that site from that point !
cheers |
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| lol hepatitis is like roulette it depends which letter you get - rockman255 | |
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have tried this on a swedish page located in gibraltar or something; it's really addictive, once you start to bid on certain items it's tough to stop.
and some fucking items have been on auction for several weeks now. it's ridiculous how much they earn. |
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lol this is a sick scam, the owners can just get someone to continuously place bids. |
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| my karma is done, now time to enjoy life, peace is the way karma is a way Jesus is a way | |
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