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Jul 1, 2009
thetoke thetoke
6 posts
Newbie

Suggestions & Feedback / Auto-bidding on auctions

paybacks on the 3 autobids that started midday where everyone got involved (Seed / Seidel / Lunkin) went for 25.93, 21.07 and 17.01). In all 3 of these even if the player won the event, (pretty unlikely) CMU made money. Also, only 1 player can win. So a grand total of 64.01 (subtract 1.05 for 35 starting place) results in 6296 bids of 0.75 = $4719.75 plus the $64.01 for winning bids means $4783.76 bought. 1st place pays out only 1200ish so a 1183 profit is guaranteed if ALL 3 players got first. However the payout was under 900 dollars for all 3 combined. so a nice 4k profit for CMU and a payout of less 20%. Even the winners lost I'm pretty sure.

But really this isn't CMU's fault. The bully strategy didnt payoff and personally I think this is nice. I think a whole new level of strategy has been added and really the old won was so simple. Show your willing to take losses on any auctions you start serious bidding for so nobody F's with you. Then you win alot of auctions for really cheap. Strategy is so basic and odyssey / Yak just end up cashing in big while everyone else is left behind. I've tried to start this image and on 3 auctions I won and I showed a nice loss (since nobody knew me) and have avoided so many I wanted to bid on since the bullies were involved.

**90% or more of auctions I'm interested in and monitoring I dont make a single bid cause of this (bullies involved).**

This last statement is very important especially to CMU. So I think I'm for some changes in the auction format, just not necessarily autobidding. Yes I'm willing to take a loss as the winner in auctions I go for (good for CMU) ;but I'm generally dont go for any (bad for CMU) cause I know without a shadow of a doubt I'll end up losing money, even if I get bullies to quit and win it. CMU may realize that eventually just like normal auctions auto-bidding may become the same way (bullies win for cheap since nobody wants to F with them) and they end up taking huge losses. So I think this system will eventually fail for them profitability wise and also it fails even harder at getting new people interested. Will be interesting to see how much losses bullies take though to get this image in autobids only to have it stripped away from them since its no longer profitable for cmu.

I'm sure they'll ride out the autobidding till it starts to become unprofitable, but till it's possible nobody including the bullies will win. Right now main event auctions (worth $60 total for all payouts) are already going for rediciously high so I dont see autobidding disappearing anytime soon.

I realize alot of these statements are received well by many but I like to tell it as I see it. Plus I'm female so it's engrained in me to want to show some drama. lol!
Sorry to all offended :(
-Jenny

 
Jun 30, 2009
thetoke thetoke
6 posts
Newbie

Suggestions & Feedback / Auto-bidding on auctions

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.

 
Jun 30, 2009
thetoke thetoke
6 posts
Newbie

Suggestions & Feedback / Auto-bidding on auctions

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.

 
Jun 30, 2009
thetoke thetoke
6 posts
Newbie

Suggestions & Feedback / Auto-bidding on 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.

 
Jun 29, 2009
thetoke thetoke
6 posts
Newbie

Suggestions & Feedback / Collusion in auctions

I guess after giving it more thought, the auction history would help alot on the credibility line as well as a direct way to withdraw (I think I read you have to contact by email and can take awhile to occur).

Of course this won't solve everything. Poker players are in general paranoid about everything. For me, the ultimate bet Absolute Poker scandal is very fresh in mind. Having people I dont know say staffers for CMU could easily collude auctions and guarantee a profit offers little assurance. For all I know these people are involved in the scam too. I guess, in the end only hearing it from someone who has something to lose would provide any type of credibility. If for instance, Tony G came out and said he knows the CMU staff doesnt do this would carry alot more weight as his very known reputation would be at stake and he has alot more on the line and alot more to lose than someone I dont even know exists.

 
Jun 29, 2009
thetoke thetoke
6 posts
Newbie

Suggestions & Feedback / Collusion in auctions

Think the auction system really deters new members. No fun watching same 5 people win almost all of them, and you cant argue against this when you look at past auctions. The whole system is pretty deceiving especially to a new person interested. Even though I only bid on 1 auction and ended up 2nd so am up 18 dollars ish, the whole system just screems "shadyness" and will lose alot of credibility of the site as a whole because of this. I would think a system should encourage new members. The slot machine sucess stories for any poker player should really make one scratch his head.

I guess if one's time is not really worth much they can show a slight profit. In the long run I dont beleive you can win much above a slight profit because of the 6 or 7 people who seem to live and breath doing this and things can only get worse as the sight grows.

The fact they wont show bidding history to me screams of shadiness. This at a minimum need be changed. The idea that collusion shouldnt matter, is pretty off base. I remember when Internet poker first arrived hearing many argue this shouldnt make much difference in limit poker games since there was a cap. Some people just dont see the big picture. One could easily make 3 accounts that all seem to be in contention for the auction. Seeing 3 people in contention rather than 1 opponent easily could deter this person off. "Man, there's no way I can do this profitably as there are 3 other bidders that are very active here."

This site is mainly made for staking and I think this greatly hinders its image. A side note is I dont see a way to withdraw from an account which further makes me chuckle. These are just a few things that will greatly hinder this sites from being reputable, and ultimately being more sucessful. The few auctions are chump change compared to the possible profit when many new people get involved in the staking which is a guaranteed profit.