Auto-bidding on auctions

Is total BS :/

Can we please change this, admin? There is no longer any strategy whatsoever. All the fun, all the fun little rivalries are gone. Now it’s just whoever has the biggest bankroll wins. Guaranteed earner for CMU, but surely defies the point of these auctions.

Really recommend ditching the idea completely, but at the very least, changing how they work. Perhaps you’re only allowed to auto-bid for 10 mins at a time, so people can have a bathroom break or something. I dunno.. but this is weak.

Hello I totally agree.

This auto-bid rule is a complete joke.

I think 10 mins is too long lol. What are people spending 10 minutes on? ha ha

Seriously get rid of the auto-bid all together!

I would 1K GTD this will not be changed by CMU it so obvious these auctions are about making money and auto big will make the site more money, I know what CMU’s reply will be about me saying this that they lose on a lot of the auction’s.

My friend went in the auction’s once while at my place and we found them to be a joke, I must admit some of the down falls have been corrected like the clock jumping up a few every 10 to 15 secs, however my frend was bidding consistanly for a good 15 mins maybe longer and the connection went down or was hacked then sold as soon as that happened, so we never tried it again.

Another issue about the auction’s is the varying cost to place bid, this cost should be set in stone, 70c a bid is insane.

another point so many newbies seem to win the auction’s, maybe we need some auctions for the old school regulars to be rewarded, another thought in order to bid at auctions you need to have bought or sold a certain number of shares that week, to prompt people to support the many good player we have here at CMU.

After all CMU is about staking and being staked not hit and run auctions for players that have never really been supporters of CMU and what they are doing or never will be.

Doesn’t happen too often too often, but totally agreed with Yaksha ^{^}^
Now the bidding history would become even more important too, cause you enter your bidding limits – go to bed – wake up and check on the auction – just to see all the money is gone and yet the auction isnt even near the limits you’ve entered. So you wonder where did the money go, but there is no way to find out. Additionally before you could at least find some small frames where the (no offense!) Bullies also needed sleep and you made your bargain – but now??? Ody has actually become a betting bot and all our nightmares have come true…

STOP AUTOBIDS!

So how do you win now? These auctions are going to go until there is only 1 person left with money in their cmu account

Obviously the current way of running auctions is most profitable for CMU, certainly now they have introduced the autobids.

I have lost a fair amount of money during the auctions and will never participate in them in the current way they are held.

Last week I saw a few auctions where people just had to enter the highest bid, that was a big step in the right direction.

What I want to suggest is to have a sealed bid auction, meaning following:

1. Set a minimum price for a product
2. Set up the auction and set a deadline for it
3. Users place sealed bids and the higher bidder wins at the time of the deadline

This way the person who is willing to pay the most will get the product, not the person who has the biggest bankroll.

Of course this will be less profitable for CMU in the short run but I believe that recieving constant flows of money will on the long term be more profitable compared to having 1 product sold for 60 cents and the other for 10usd.

Next to this you could charge a 1USD ( example) cost to place your sealed bid.

Just my idea

By the way LOL at the people trying to outbid 10 autobidders who prob have their maximums set at a few hundred

i totaly agree with kobus as 2 the way the auction should be run would be kinda like ebay style

hi guys, im an admin.

well be reviewing as we go to see what works ..

some things work, some things don’t. each change we put in takes time to code so we like to let them run a little before we review if we should continue or stop.

kobus: i quite like your idea
frankwhite: i actually think that it is incorrect to say only newbies win, we previously had it with no limits on how many auctions you could win and around 3 players won almost all auctions, so we put the limit in. We have started a staking league online which a number of regulars are playing in. I’ll talk to the guys about having some ‘regulars only’ auctions – i’d like to do them but we need to write code to do it.

thanks for the feedback guys, we’ll take it onboard. TBH i see having some auto bid auctions and some not, but we’ll see.

cheers

jon

Jon,

In case you need some more info on the idea feel free to contact me.

Got some experience in e-auctions and wouldnt mind sharing my knowledge

well done j connor we need regular only auctions

i find it hilarious that the ppl above just a week ago defended auctions to the death, and now that something was implemented that they cant adapt to they are cursing the auctions.

While the autobidding system may drive I high profit initially, I cant see how it won’t turn away most everyone and won’t be profitable in the long run for CMU. It’s simply not worth doing as the richest will always win. Even the winner will probably show a loss based on how some of these have gone.

At the very minimum the autobid clock reset makes the events occur way to long. It should only add say 10 seconds or less. That way someone isnt bidding for 8 hours only to have a whole new set of opponents to compete against and lose even more money.

It also doesnt seem sequential. Often it seems the bids are way out of order. Does it choose the autobidder via a random generator or is it supposed to be sequential cause it doesnt appear to be often.

Having bidding histories available as Haza stated seems a must.

I think Yaksha’s 10 min autobid limit along with a smaller clock reset for autobids would make them much more enjoyable.

Man could not agree more. All the fun (and money) is gone :). Firsr LEGALIZE ONLINE POKER was my priority, now it’s STOP AUTO-BIDS !!!! Good old Tony has enough cash anyway…..

This type of bidding and set up with 1 cent bidding is not new, the auto bid system is not new either fore these kind of sites, it is one of the biggest earners for these sites, the site never loose baically and make a lot of cash on these “auctions”. Basically there are plenty of these sites out there with other products and stuff. There are strategies but in the end the site makes alot of cash so guess who is paying…

me, : mr almost autobid " doesnt see the benefit of this autobidding, the fun is gone, and auctions do take way too long. new guys get ripped off while they are attrackted to last second auction and then a autobid shows up. even with huge br’s it is almost hard to get an auction. there are auctions now, and i follow m as always, people have put in a nice amount to let autobid do the job, its just donation to cmu, not that i disagree cmu making money but there are lines; but at a certain point i turn on my autobid and all the work for the previous autobidder has gone, so who benefits. i agree with yaksha’s idea to have a 10 minute autobid or someting to go take a pee, but only once, else i would pee whole day :-p go admins, nice work to improve the site, but this is a failure in my opinion. cheers

why would cmu get rid of autobid? currently the erik seidel auction is going for $17.00 (and still going). if these auctions started at $.01 (not sure what they start at), then then CMU has made $1275 (1700 bids x $.75). The most Seidel can win is $1.278 million. 0.1% of that is $1278. So the most CMU loses is 3 bucks as it stands (which actually they won’t because it sells for $17 minimum after it’s done, so they make at least $14 dollars). Right now Seidel is 7th of 8 in chips. Auto-bid is awesome…..for CMU.

http://chipmeup.pokernews.com/auctions/717

yep west u are correct, but what if seidel as used in your example get out in 8 ? then its just 129$ for the winner and the rest for cmu, again not that i don’t want cmu make money but there are lines and since it is an auction where they make advertising for cheap seats , i believe there are lines still.

And all are missing out on one thing:

“First place in this tournament is likely to be at least $2,000,000.”

It says so in each and every auction although the prizepool is settled since days… False advertising comes to mind…

says “likely”…i think it’s up to the buyer to do his due diligence…the boiler plate for these auctions was probably made before they had numbers on the prizepool, so it doesn’t bother me too much

Ahm, sorry rwest… Green background – right were the auction takes place it says: “Estimated Prize Value: Up to $2000”

This IS false advertising with not the least space for any discussion imho. And adapting this would have been a matter of seconds, especially as all those new auctions were setup after the money ranks had been reached.

different discussion tho, lets keep it straight guys, this is about autobiding ;-)

yeah right ody…just another point…

STOP AUTOBIDS! :-)

Well I’m glad I havent made a single bid on autobid auctions cause this is what I thought would happen. Yes it’s so good for CMU but it’s such a horrible deal and it literally sucks people money dry they will drive out people after awhile.

Think of gambling machines that payout possibly 25% on average. You can’t because they don’t exist and it’s illegal. Aside from this, people would just never play them once this is known. The worst payouts in casino games are like 70% which is the horrible slot machines. Alot of the most popular games (blackjack, craps) payout is like 97% or something; people love it cause there only slowly losing there money not getting ripped off.

The auction may not qualify as a gambling game but it performs essentially the same function as any gambling games.