I don’t play many games online, except for the odd game of Tetris. I certainly don’t pay for them, but I did once try one of those awful semi scam bidding sites like Quibids a few years ago. I don’t recommend them. They are actually pretty insidious. With all the legal issues about online gambling in the US, I’m surprised all sites like them haven’t been outlawed yet.
So yes technically you can win an auction for a low dollar amount, but it will have also cost you a likely much greater sum in bids. So if you’re really lucky you could still get a semi decent deal. However much more likely is that you will pay as much or far more for the item than if you just bought it outright. Even worse, you may have already spent more than you hoped and not win the auction. So you get nothing and your bids are spent. So if you are bidding against others, don’t expect them to be pushovers. They may have already invested a substantial amount in the auction and be unwilling to walk away with nothing.
Then of course there are the people who try and game the system by compiling statistics for the auctions. What are the average prices for certain items at certain times of day, days of the week, and so on. They will gladly sell you their cheat sheets so you can game the system too. But then there’s really no way to tell if the figures are accurate or up to date. Then comes the most evilly brilliant part of all. You can bid on more bids! That’s right, these sites get people to fight each other bidding for something that costs the company nothing.
Years ago when I tried one of these things for fun, I bought like 15 bids, a stats sheet, and tried to bid on more bids to increase my buying power without spending more money. Of course even with the cheat sheet, I lost and thus ended my game bidding career. It was kind of a fun lesson, but if your going to play, don’t go in expecting to leave with the item you want for pennies on the dollar. You will likely just be paying for a learning experience. If the experience is all you want and you’re willing to pay, you may as well do some straight up online gambling on a site like BingoGodz, or skip the gambling all together and pay for a premium subscription to an MMO. You can always collect lots of in game gold to trick yourself into feeling rich.