This is used as a model for "reverse auctions" [1], which also then charges a fee for participation which essentially makes the whole thing a cross between a lo

This is used as a model for "reverse auctions" [1], which also then charges a fee for participation which essentially makes the whole thing a cross between a lottery and a scam. There were loads advertised on TV with misleading claims about people winning ipods for 37p, etc, which while technically might be true for the winner ignores the overall cost. I've not seen many advertised lately so either the practice itself or the advertising of it was cracked down on. [1] https://www.gamblingcommission.gov.uk/public-and-players/guide/page/reverse-auctions https://www.gamblingcommission.gov.uk/public-and-players/gui...