Reverse Auction Web Site - Good Idea?

Hi There,

Just wondering what the general concensus is on creating a reverse auction /lowest bid website. Also, Would anyone know if a gambling license is required for such a website...

Cheers,
Craft..

I presume you're talking about and similar?
Would try google, plenty of discussion/articles out there.
They seem to do well. Whether it's gambling or not probably depends on how the auction is structured. In the case of swoopo it appears it's not gambling; if you keep bidding long enough you will win