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Anyone tried this site Skore it advertised on ESPN?
You have to buy bids (each bid cost 60 cents I guess) and each bid is in 8 cent increments and theres a 30 second auction clock that resets everytime theres a new bid for a $100 gift card for example, so ppl spend all day bidding in 8 cent increments, at some point (apparently everyone goes to bed or commits suicide) the bidding ends and somebody wins a 100 gift card for like 40 bucks.
$40 / 0.08 = 500 bids
500 bids * 60 cents = $300
So a $100 gift card = $300
-EV
Don't do it ;0)
Its even worse than that apparently they go up in 1 cent up to 8 cent increments depending on the auction
There is a 250 walmart gift card auction right now going for 14 bucks BUT thats bidding in 1 cent increments at 60 cents a piece and its still going on
Thats 1450 60 cent bids + 14.50 so if it sells right now (which it prolly wont as the ppl bidding see a 250 gift card goin for less than 15 bucks so they bid), nearly 900 dollars for a 250 dollar card and the auction is still going on, what a scam
Okay after tryin it out with the free 10 bucks they give ya to try it out I have determined SkoreIt.com is officially the gayest site I've ever seen in my life, cant believe this trash is legal but in our country yea I guess I believe it. I didnt even spend any money (just used the 16 bids you get for entering ESPN as a promo code) but I still feel ripped off, thats how bad it is, what a garbage site
DUH....Winning...These have been around for years...they all are scams...getting like 3to 4 times the actual value of the item up for bid...Wake up people...
Penny auctions are most certainly -EV
LOL at this thread. You guys really have no idea how the sites work then, or how they make money. A friend of mine down here is a partner in one of the sites, and it makes really good money, and people get good deals. For instance, an apple ipad. The average price people end up paying for is $125, while my friend said they take in around $3,000 for it.
...but they don't end up paying $125 for it though do they ?Originally Posted by chilidog
c'mon ... how many bids does the average person make if they want to win an ipod ..
and how much do those bids end up really costing them ... ?
Not sure why chilidog is LOLing the thread, he repeated exactly what I had posted after trying the site, they take in fuckin 5x the value of the item before they sell it and yes one person gets a good deal on the item but what about the 2000 other bidders that paid .60 a piece to bid that get nothing? Just a completely retarded scam site and looks like its dominated by shill bidders to insure the company makes a profit, hard to believe that shit is legal and advertised on ESPN but yea this is the US so yea I believe it. Lotteries are completely legal, casinos are completely legal, scam penny auction sites are completely legal, poker NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO thank god our govt protects us from one of the only types of gambling that you might win at while always legalizing the types that you're just burning money at...but they don't end up paying $125 for it though do they ?
c'mon ... how many bids does the average person make if they want to win an ipod ..
and how much do those bids end up really costing them ... ?
Last edited by bettilimbroke999; 05-02-11 at 11:01 AM.
its a ripoff and i cant believe espn would be associated with this garbage
I don't see any problem with these sites. You know exactly what you're getting into. Whoever started it is a fuking genius for finding a marketing ploy that will make one person happy with the purchase and make the company a boatload of money.
The site makes money because basically the guy who wins the auction and get the "so-called" discount on the prize has the rest of schmuck bidders who didn't outbid pay for the rest PLUS MORE of the actual expense of the item.
It is quite clever but also quite a scam as the odds of outbidding something like 50 other people is well 50:1. The site realizes that there will be 49 losers and only one winner for each item auctioned and this 49 people waste their time, money and effort on useless bids. If you want a 1 in 50 chance (at best) of winning something at a discount...go ahead and participate in this nonsense.
Personally you have a better chance of making a $10 sports bet at 50-50 odds in sports betting and winning 4-5 times in a row then using those winning to buy whatever you want at the regular price than you do of outbidding 50-hundreds of people for the same item all at one time.
Where are you getting the scam part from? You get to buy it for $125 or whatever. Who cares what the company ends up making. Relax.
Not sure Id agree with the genius part but if the bidding that I saw on that scam site while I was there is normal activity then the owners will look like the facebook founders in a few years, plus they keep the shill bidding going in high gear to insure they dont get bit on an auction, I have little doubt that many of the auctions are won by skoreit employees, there was a guy on there last night whatever youd bid it would be instabid everytime (a bidding bot), he was bidding on every auction and paying twice the price of the item he "won" everytime, either this guy is a generous millionaire that just likes to pay double for shit or he was a skoreit shill bidder
Mike and Mike are idiots for promoting this garbage.
Agreed Mike and Mike are idiots,would much rather watch Dan Patrick in the morning
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