SitnBid.com auctions have a specific structure, operating on the tournament principle. So when you bid in our auctions, you’re playing the tournament auction game.

 
So what exactly is a tournament auction?   

This game structure, well-known to online poker players, ensures that all participants start on an absolutely equal footing. Here are the specific features of a tournament auction:

• To register, you first must pay an entry fee: this is the only cost before you start participating
• This entry fee entitles you to a bid package: these bid opportunities allow you to participate in the auction
• The bid package is the same for each participant, so that each player has the opportunity to place exactly the same number of bids.   

In a tournament auction, all participants pay the same entry fee and can place the same number of bids. Their chances of winning are therefore exactly the same, the player with the best strategy being the winner.

With SitnBid.com you can participate in 2 types of auctions: SitnGo auctions and Scheduled auctions.

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SitnGo auctions   

SitnGo auctions start as soon as the requisite number of players has been reached. For example, an auction that requires 5 registered players will only start once the fifth player has registered. It is usually easy to find auctions ready to start on SitnBid.com.  

What do you win?

The winnings for each auction depend on the number of participants and the amount of the entry fee. The winner receives the sum total of entry fees paid for that specific auction. 

For example:  a SitnGo auction requires 10 players and each player must pay 5 entry fee Credits.The winner of the auction receives 50 Credits (10 X 5 Credits).

How the auction proceeds     

SitnGo auctions proceed as follows:

• You register for an auction, and as soon as the requisite number of participants is reached, the auction begins.   
• The session lasts 20 or 30 minutes and each participant can place, for example, 50 bids
• When the countdown reaches 0 minutes and 0 seconds, the auction is over and the winner is the one who placed the lowest unique bid.   

• The duration of the auction  
• The number of participants required   
• The number of places remaining   
• The number of bids each player may place   
• Entry fee and administration fee   
• The winner’s award 

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