I got an email from SMOOKOO stating that I can have 10 free bids worth R50 if I register. I registered and waited till the auction closes. They keep on extending the time to get more people to bid and waste their R5's. It is a huge rip-off. I don't see it lasting unless I'm over estimating people's intelligence.
People see the 5c bid. They don't click that every 5c bid is actually a 5 rand bid. The truth is, that only about 1% of the general public analyze these types of things. The rest just give away their money in bliss and don't think about it twice. Most people do not want to think about things. It is too much effort. That is why this website is getting away with it. All their advertisement states is that some person "bought" an iphone for 40cents! and the world believes it.
They are not lieing, they are just not telling the whole truth. Most big corporates, medical aids and so on , don't lie. They just keep quiet about the truth. Maybe the new consumer laws will take care of this, however, with all the issues currently in this country, how they will address all the new issues, is a mistery. But, let's be positive.
Gave it a try today. It's totally stoopid and insults my stats training - but it worked. Turned R200 into R900 (R700 profit) in 1.5 hours. Min bet R100. Eventually had to leave to do stuff and got annoyed by a long string of red/black alternating.
Ok chaps..what if play the columns. If u put R100 on 2 columns your chance would be 66%. Granted this means that you would only come up with R100 profit if you win, but if successive spins yield the same column then betting on the other 2 would increase the probability of winning on future spins.
On average you can win about 60 times before you loose everything you made and more on the seventh time that the spin goes against you. The seventh unsuccsessful attempt comes up on average every 60 successful attempts. You win 3000 unites on the 60 successful attempts but you loose 3200 unites on the one unsuccessful seventh attempt. This is without taking the zero into consideration. Check out the statistics http://therevealingofrevelation.t35.com/bad%20habits/bad%20habits.htm#gamble
There is a formula to determine how many spins on average it takes to spin heads or tails in a row. The formula is T=2((2(to the power of n+1))-(n+2). Where "T" stands for the number of times a coin is tossed; and "n" stands for the level of x number combinations tossed. For example, to determine how many tosses, it will take to reach 7 heads and 7 tails in a row. The answer is 494. The "n+1" equals, 7+1=8. Two to the power of 8=256. The "n+2" equals, 7+2=9, subtract it from 256=247, times it by 2=494.
Unfortunately the web server to the above web address only allows a specified amount of 100kb upload so the page is truncated. If anyone is interested in reading the whole article I can send it to them.
I disagree with you skaaptjop there is a law that changes the 50/50 rule. T=2((2(to the power of n+1))-(n+2). Where "T" stands for the number of times a coin is tossed; and "n" stands for the level of x number combinations tossed. For example, to determine how many tosses, it will take to reach 7 heads and 7 tails in a row. The answer is 494. The "n+1" equals, 7+1=8. Two to the power of 8=256. The "n+2" equals, 7+2=9, subtract it from 256=247, times it by 2=494. I can tell you precisely on average how many spins it will take to spin 2,3,4,5,6,7.....heads or tails in a row. Therefore if the average deviates from the average the chances is greater that the coin will fall to the average the next time it is spun.