On the internet, penny auction is very rampant and has become so popular nowadays. This is because people want to have fun while looking for items that they want and/or need. Penny auction is the most enjoyable way in finding items, may it be brand new or second hand/slightly used.
In playing the penny auction strategy, the bidders pay for each bid that they make. The bid increases as time increases. The person who bids up to the last second is declared as the winner. Each player aims to really win the game, if you want to play this game and win then you have to learn these two winning strategies: the “against better players strategy where you have to act irrationally in order to win and the “old prisoner’s dilemma” where you only think of winning at all cost.
The penny auction has a lot of items in store for you such as cars, Madonna concert tickets, gift cards, DVD’S, iPods, vacation packages, designer bags and other popular items. Participating in penny auctions can really be addictive and if you are not careful, you will really lose a large amount of money without getting a single item. You must read and understand all the rules before playing. Watch out also for websites that are scams.