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Is a lowest unique bid auction a form of gambling or lottery?

November 14, 2019auction bid form gambling lottery lowest

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Posted Mark Towers edited answer November 14, 2019

Is a lowest unique bid auction a form of gambling or lottery?

3 Answers

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Posted

A lowest unique bid auction, where the item will be assigned to the bidder, who placed the lowest, unique bid, isn’t a gambling or a lottery at all. All auctions have an exactly defined “time of bid”. The bidder will be informed continually about the current status of his bids. Due to this information the bidders can use various strategies and various heights of investments. So the participant can affect the course of events and thereby also the result.

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William Morris Posted

Can’t say for sure, I am not expert here. As for the gambling, I could share another useful information about latest and hottest deals from world most popular casinos, here it is http://www.hotpotbonus.com/ .

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Mark Towers -2 Posted Mark Towers edited answer November 14, 2019

I don’t realy think so. For true gambling you can check out those Internet betting sites. Why betting and not casinos you’l ask? Well, most online casinos cheat a lot and you will never be able to win or if you win, it wil be hard to withdraw the money. Betting sites are fair in those terms so you shouldn’t be afraid.