One of the criticisms that penny auctions continue to receive relates to the fact that they can be quite addictive. Their methods are regarded as gambling because participants grow the tendency to throw a lot of money away in order to win. If they lose, they only get more motivated to try again, so it is quite risky.
Addiction to penny auction sites like Bidiction is common, but when bidders develop some control, they avoid the danger and significantly deal with the risk.
Here are some helpful tips:
- Set yourself a budget. This is probably the most basic thing you can do if you want to avoid becoming addicted to penny auctions. You can set yourself a spending limit and as soon as you have reached that amount, stop playing.
- Set yourself a time limit. Even if you have a lot of time to spend in front of the computer, logged-on to site, you should not spend all your leisurely hours bidding and throwing your money away. Just set yourself a playing time which you will make sure to follow and keep. This will help control your expenses and help avoid addiction to develop.
- Bid only on things that you really need. Sometimes the addiction can be so strong that you will feel that you need to place bids on just about anything that you can bid on. If you want to be able to protect your money, you have to have some control. Look carefully at the item before you make a decision to throw money into it.