BidCactus.com is one of the most popular penny auction sites on the web. At Bid Cactus, you can win brand new products for up to 95% off the retail price. So if you win a $100 gift card for $5 and then sell it to Gift Card Rescue for $90; you’ve made 18 times your investment! Now that’s a great return that everyone would like to see.

BidCactus is one of the best penny auction websites to use for making money and selling gift cards, because they usually have more for auction then their competition at Swoopo and Beezid. Want to know the right strategy to winning penny auctions at BidCactus? Read more after the jump.

Strategy to Win Gift Cards on Bid Cactus

  • Clearly define your goal. You want to clearly define what you want to do when you visit the site. If not you’ll continue to make impulse bids on different items that you may see a chance to win. Define your goal and stick to it. If you want to win a Best Buy gift card then plan to win just that gift card. Any distractions will only get into your way.
  • Know your limits. Don’t spend an excessive amount of bids chasing after that one item you really want. If it’s out of reach then it’s okay to give up. There’s no point in wasting all of your bids and reloading your account.
  • Do your research. Spend time calculating what gift cards sell for around what price. If the bid gets higher then that, then maybe you should back off. For example if you know that a $100 Macy’s Gift Card usually sells for $3.51 – you may not want to go above that price.
  • Spy on the competition. Every penny auction website has it’s super users who continually seem to win auctions and have an unlimited amount of bids. Avoid these super-users because they’re just going to outbid you even when it doesn’t make any sense. Who needs 5 Apple iPad’s anyways?
  • Play the numbers not the game. If you’ve ever seen the movie 21, think about the scene where Ben begins to gamble all of the teams winnings away in Blackjack, just because he had a bad day. That didn’t end up very well for Ben and it won’t for you either. Penny auctions are almost a form of online gambling that will soon be federally regulated. Don’t get emotionally involved and stay sharp when making your bids.

If you follow these tips when bidding on penny auction websites, you’ll soon start raking in the winnings! To make additional money using BidCactus, sell your gift cards to GiftCardRescue.com for cash. If you have bulk gift cards we’d love to talk to you about purchasing them from you. Some of our customers on penny auction websites sell us gift cards worth thousands each month and they’re making a huge profit. If they can do it why can’t you?