Gaming Auction Software

SoftSwiss is not just about online casino and betting, but also about gaming auctions. Launched several years before SoftSwiss casino platform, our Merkeleon online auction platform has become popular among operators wishing to enter iGaming market without any legal and licensing hassle. Although auctions are just as fun to play as a casino and can be just as profitable, they do not officially belong to gambling and therefore allow for much easier launch procedure and quicker time to market.

Merkeleon online auction platform from SoftSwiss is a customizable and scalable solution which boasts perfect design, seamless performance and great ease of operation. It can serve as a basis for several types of auctions listed below.

You can also read more about how to start an auction website.

Penny auction

For those who want to add some fun to shopping, penny auction is an ideal solution. In the penny type of auction, the initial price for auctioned items is minimum. Each new bid that the participant makes increases the price by a pre-defined amount. Participants shall pay a fee in order to place a bid, and the fee is usually higher than the price increase. With each new bid, the time of auction is prolonged so that other participants also have a chance to make their bids. When the auction time is about to expire, the most exciting bidding starts. The winner is the participant who makes the last bid before the auction ends. This type of auction guarantees high winnings to the operator and good deal to the auction winner, whereas other participants are at a loss for having spent certain money on bids.

Major Concepts of Penny Auction:

  • Start price of the product is as low as 0 or 1 cent
  • When a bid is made, the item price grows by 1 cent
  • Each bid costs 50-100 times more than the price increase
  • Each new bid resets auction expiration time, usually by 25-30 seconds
  • The item is sold to the participant whose bid is the last one
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Unique Bid Auction

Unique bid auction is another way to offer exciting real-money gaming experience to players in the shopping mood and make a solid profit even by selling very expensive products at low prices. It is basically a game of chance. At the unique bid auction, the item is sold to a participant who offers either the lowest or the highest unique price, so you need to make guesses in order to place an unmatched bid. If there are two equal bids, both are considered invalid. Participation in the auction costs a certain fee so the operator always has stable earnings.

Major Concepts of the Unique Bid Auction:

  • Auctioning starts at the real retail price of the item in the lowest unique bid auction and at a lower price in the highest unique bid auction
  • Participation costs money
  • Only the unmatched bid can win
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Reveal Auction

Reveal auction is another type of entertainment and source of affordable shopping for venturous buyers. It also provides high profits to the operator since participation in the auction is paid. The items are usually offered at an initial price equal to the retail one. With each new bid, the price decreases, but the ongoing price is never shown to the participants. In order to see the price, the user needs to make a paid bid. There are about 10 seconds to decide whether to buy the item before the price is hidden again. So, by spending bids and viewing the price, the participants lower it and increase their own chances to buy the item at the lowest cost.

There’s a high temptation to view the price again and again, but at the same time it adds risk that the item goes to another participant.

Major Concepts of the Reveal Auction:

  • Start price is equal or a little lower than the retail price of the item
  • Price goes down every time it is viewed
  • To see the price, the user has to spend a bid
  • Price of the bid is usually 2-3 times higher than the reduction of item price
  • There’s no limitation of auction duration
  • The item is sold to the participant who decides to buy it at the ongoing price
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We will answer all your questions related to our online Gaming Auction platform, such as pricing, time to market and cost of operation.

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