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Mark S.
Full House


Joined: 13 Oct 2005
Posts: 1428

PostPosted: Thu Mar 21, 2013 3:43 pm
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JonDaFish wrote:
darrensprengers wrote:
these sites are a con and a blight on society. 50p for a 1p bid. total bullshit.

if you want to help the poker commnunity, or finally be a genuine part of it then why not just offer £1 sweepstakes into events with a clearly marked vig.

I hope i am clear enough when i say that i hope this fails. I hope all these insidious site fold and lose money.


^^^ This.

The problem with a clearly marked vig is that it limits the amount of profit that can be squeezed out of those gullible enough to use the sites.


...and thats why we DO CLEARLY MARK THE VIG!

We're not going to be in the business of ripping people off nor losing money.

Each prize won will be clearly advertised with the user name and their winning bid so no-one can say its ever a fix!!
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Mark S. - Read all about my 'live' poker exploits and other ramblings:
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Mark S.
Full House


Joined: 13 Oct 2005
Posts: 1428

PostPosted: Thu Mar 21, 2013 3:45 pm
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uh-hu wrote:
Mark S. wrote:
uh-hu wrote:
i have questions as i have never used a site like that before


1: how do u profit?

2: maybe im reading it wrong but here goes - there is a seat for a local mtt cost of buy in £200......u get 1000 bids of 50p? thats £500; do u keep £300?


1. There'll be a MAXIMUM number of bids per item which will generate profit. This is to be set at a MAX of £50 / €50. (Bear in mind the minimum ticket price will be around £225 / €225 so approx 25% max per ticket)

In effect if we offer a £225 ticket at £1 per 'pick' then the maximum number of 'picks' for this ticket will be 275. Once 275 picks have been made then the 'lowest unique pick' will win the ticket.

2. There will also be an 'end-time' at which time if not enough 'picks' have been chosen then the prize is 'null & void' and all pickers get their pick money back.

Hope that answers your questions???!!



ok so u have a ticket £225 and if u dont get to 225 u take the ticket off offer and just send everyone their money back?

so its a no lose situation?


Correct...any monies used for 'picking' on any item will be returned to the user.

There will be a 'countdown' of how many picks an item still needs to complete the process so everyone will know if its a success or not!
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Mark S. - Read all about my 'live' poker exploits and other ramblings:
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uh-hu
Full House


Joined: 27 Apr 2011
Posts: 1132

PostPosted: Thu Mar 21, 2013 3:46 pm
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one last question


how is the winner picked exactly?

i have no idea about these sites
Grumbledook
Royal Flush


Joined: 25 Dec 2003
Posts: 16061

PostPosted: Thu Mar 21, 2013 3:51 pm
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when you big the countdown timer increases

the winner is the highest bid at the time the timer runs out
darrensprengers
Misclick


Joined: 10 Jul 2007
Posts: 7551

PostPosted: Thu Mar 21, 2013 3:53 pm
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Grumbledook wrote:
when you big the countdown timer increases

the winner is the highest bid at the time the timer runs out


you will never win then lil pal. lol
Mark S.
Full House


Joined: 13 Oct 2005
Posts: 1428

PostPosted: Thu Mar 21, 2013 3:53 pm
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uh-hu wrote:
one last question


how is the winner picked exactly?

i have no idea about these sites


You 'buy' a number of picks...say 10 at £1 a pick.

You see a ticket for a GPS event for £450 (inc reg) that you want to bid on...

You pick a 10 values between 1p and £10...lets say 1p, 4p, 21p, 52p, 77p, 96p, 106p, 111p, 120p & 121p.

We need 500 'picks' to make that ticket valid! You've just used 10.

Another 490 picks get chosen.

Offer closes.

We determine that your 21p pick is the 'lowest unique value' picked. (No one else picked 21p apart from you and as such its the lowest UNIQUE PICK (e.g picks of between 1p and 20p were all picked by more than one user)

You now buy the ticket for 21p and you've off to a GPS event for the sum of £10.21!!
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Mark S. - Read all about my 'live' poker exploits and other ramblings:
http://ukpokerukpoker.blogspot.com/ or
http://ukpoker61.blogspot.com/

**New** http://ukpoker-vendeep1.blogspot.com
Mark S.
Full House


Joined: 13 Oct 2005
Posts: 1428

PostPosted: Thu Mar 21, 2013 3:56 pm
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Grumbledook wrote:
when you big the countdown timer increases

the winner is the highest bid at the time the timer runs out


You're not bidding on anything.

You're effectively picking a value between 1p and 1000p that you hope noone else will pick and that value being the LOWEST UNIQUE one.

No timers involved (except to close the event)

Confused
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Mark S. - Read all about my 'live' poker exploits and other ramblings:
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http://ukpoker61.blogspot.com/

**New** http://ukpoker-vendeep1.blogspot.com
darrensprengers
Misclick


Joined: 10 Jul 2007
Posts: 7551

PostPosted: Thu Mar 21, 2013 4:05 pm
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if you do not get the right amount of bids are all the bids refunded?
Mark S.
Full House


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Posts: 1428

PostPosted: Thu Mar 21, 2013 4:07 pm
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darrensprengers wrote:
if you do not get the right amount of bids are all the bids refunded?


Yes. All bids are refunded in the event that the 'event' is not fully subscribed.

The formula Event Price + 50 will ALWAYS be used.
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Mark S. - Read all about my 'live' poker exploits and other ramblings:
http://ukpokerukpoker.blogspot.com/ or
http://ukpoker61.blogspot.com/

**New** http://ukpoker-vendeep1.blogspot.com
Grumbledook
Royal Flush


Joined: 25 Dec 2003
Posts: 16061

PostPosted: Thu Mar 21, 2013 4:51 pm
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ah so it isn't a penny auction site

should have perhaps put the explanation in the OP ;]
Marcus6
Royal Flush


Joined: 06 Jun 2012
Posts: 5916
Location: london

PostPosted: Thu Mar 21, 2013 7:14 pm
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so if your pick! is the only one that no one else has you win! as long as no one else has picked a lower one that no one else has picked Exclamation
ripple11
Flush


Joined: 10 Sep 2007
Posts: 549
Location: London

PostPosted: Thu Mar 21, 2013 7:20 pm
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lowest unique pick/bid comps.....can work/have worked before.....ie radio stations with big audiences and offering "I want " items.

However IMHO you just wont get the traffic from poker players to make this work.
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tjm8
Straight Flush


Joined: 09 Apr 2010
Posts: 2562
Location: Cheshire

PostPosted: Thu Mar 21, 2013 9:27 pm
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The main reason I would never use this type of site, is that I would never trust that they are picking the winner by legit means. It would be very easy for 'dummy' accounts created by the website owners or associates, to ensure that the genuine bidders did not win.

Dummy accounts can also be used to make sure that the prize was 'won', to ensure that all the paid bids were taken and not refunded. The same prize will then be offered the next day.

I know people who have used fake accounts to push prices up on items they are selling on Ebay and get away with it, how easy would it fiddle when the website is actually in your control!

Please note, I am not accusing you of coming up with such a plan, I am just stating why I would never entertain this type of website.
BartMan
Two Pair


Joined: 22 Oct 2008
Posts: 60
Location: Hampshire, UK

PostPosted: Thu Mar 21, 2013 9:28 pm
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Doomed to fail, sorry Mark, just being honest like everyone else and only posted to help you with genuine feedback. Others with much more experience and much deeper pockets than yourself have already tried and spectacularly failed.

Too complicated, too expensive & too much markup.

Decent sats where you have (some) control over your own destiny will always come out on top, simple, you know exactly how much rake you're paying and can actually have fun trying.

Good on you for sounding it out first though, don't go wasting any more time or money.

I'm ooooot
Pilf
Full House


Joined: 17 Aug 2005
Posts: 1234
Location: Good old Yorkshire

PostPosted: Thu Mar 21, 2013 10:10 pm
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Mark S. wrote:

In effect if we offer a £225 ticket at £1 per 'pick' then the maximum number of 'picks' for this ticket will be 275. Once 275 picks have been made then the 'lowest unique pick' will win the ticket.


So in this example I could buy 140 'picks' for £140 (or do so in a syndicate) and bid from 1p to £1.40? Thus ensuring no one else can have a lower unique 'pick' and getting a £225 ticket for £140?

I'm in! Embarassed
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