posted
I was thinking about a great way to make a ton of money scamming PrizeWise:
Post a high dollar item (ex: Lotus car, which happens to be on there now), once someone wins it then you contact the winner and ask them to say that the item was delivered but never deliver the item and once you receive the money for the item just split the money with the winner of the item. Of course it all depends on whether you can bargain with the winner of the item and if they will trust you to actually split the money.
Interesting. A lot of possible scams here but hopefully the company will stay abreast of them and adapt their business?
crashoverride
posted
Sorry, I meant to post this under the TFCT board....
Acherontia styx
posted
That's not a scam. PrizeWise will still get their commision, the winner still gets the car or half the money, and the sponsor also gets paid. Or that is how I understand how it works.
[This message has been edited by Acherontia styx (edited July 26, 2004).]
crashoverride
posted
You are correct, no one really loses out except the people who submitted tickets, but they would have lost if the prize was legit or not.
Effectively, this would be a way to get a better markup on cash items (usually only 125% instead of the 150% for physical items) because cash is essentially what the contest would be.
If you could post a bunch of these type of schemes, you could get rich in a few months/years.
Meshoe45
posted
Or I'd just take the lotus since it'd be worth more then half of the cash and then I'd get you in trouble for scamming the system and maybe get more $.
Acherontia styx
posted
They just reallowed gift cards and cash raffles, so performing a raffle that way wouldn't even be necessary now. As long as the markup can remain decent, and sponsors don't start undercutting one another, PrizeWise is an incredible way to make money. You could start a raffle for $15,000 cash, make the minimum ticket 30,000, and bingo, you've got a nice little profit. Even 20,000 tickets would be nice. However, because it is free to sponsor a raffle, I worry that supply may grow out of hand and raffles won't ever end, thus the demand could leave. I bet and almost hope that PrizeWise will start to eventually charge a fee to just list items like eBay does. It's the only way to prevent supply from getting out of control, I think.
Upside
posted
crashoverride, I know of a certain diamond driller headquartered in Nevada who would probably hire you if you're looking for a job.
Highwaychild
posted
And just how do you know that, you on the inside Upside?
TradingWizard
posted
This is crazy
Maelien
posted
crashoverride. I assuje you own wome chares in TFCR. Why would you want to do anything like that to your own company. Why start such a thing. You amaze me!!! Old Curt
Meshoe45
posted
quote:Originally posted by Maelien: crashoverride. I assuje you own wome chares in TFCR. Why would you want to do anything like that to your own company. Why start such a thing. You amaze me!!! Old Curt
English much? lol
crashoverride
posted
You are completely right about the supply issue Styx. I do not believe a fee structure would solve the problem---even after fees, if there is any margin left it will be exploited in mass quantity. Cash and gift cards are the obvious first target, but it could happen with other items as well...We'll see...I love the concept though
posted 
and maybe get more $.
