Quote:
Originally Posted by Angry Jew Cat
everyone and their uncle has been building these as of the last year or so, once again if you haven't built one, you're already too late for the bus....
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If you have deep enough pockets it is not to late, but you will need serious investment capital to even think about competing with the big sites.
Quote:
Originally Posted by Mutt
the concept is brilliant but only a moron would not by cynical - it's gambling, each auction is a lottery and you have no idea if the people running the 'game' are scamming.
i expect as the business continues to grow that government will step in - it's unlicensed gambling.
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By law it is not considered gambling, especailly if the site offers a buy it now option. Your actually buying bids to to use on physical items. Backing this up with a buy it now option eliminates the gambling aspect. One of the companies I work for has spent a nice amount of money on lawyers to make sure of this. Although seeing how the US goverment is about controlling every aspect of our lives, it wouldnt surprise me to see them pass some new law to change this.