Melbourne Cup Auction - Monday Night (8pm)

Hey everyone, as most of you probably know by now, I have recently set up my own betting site, where I let my customer set the open prices by auctioning off the price for each horse.

For anyone who hasn't seen a live auction before, I will be holding one for the Melbourne Cup on Monday Night at 8pm (AEDST).

Basically what happens is every horse in the race starts at $1.01, and 5 seconds later they all shift out to $1.10, and 5 seconds later they shift out to $1.20. The system is designed to keep pushing every horses price out until they reach $1000, or someone steps in and takes the price.

The site is www.combet.com.au (Hopefully admin is ok with me posting the link).

Some things to note include:

- Max Bet Limit = Win $5000
- Average Opening Percentage at auction is around 97% (which is the equivalent of $2.06 vs $2.06 in a head to head market)
- The site is currently in Beta Mode, so only accessible by Computer (ie no mobile site)
- Combet uses PayID exclusively for all transactions as it offers instant deposits and withdrawals)
- This link provides a demonstration of how the site works.

https://www.loom.com/share/9d7600f96e5248a1bb8b80f5928e6c9f

It is a bit of a new concept, so if anyone has any questions, please just let me know.

Cheers

Jake