LOS ANGELES, June 14, 2012 /PRNewswire/ -- YouNeverLose.com™ (YNL), the first and only site on the market where players can win prepaid gift cards at 90% off retail cost without any risk, announced today the startup has saved consumers more than $120,000 in its first four months. The startup has grown its regular active user-base to more than 25,000 players in that time as well.
Since launching in December, YouNeverLose.com has presented consumers with the chance to win prepaid gift cards to leading national retailers like Walmart®, Starbucks®, and Apple® for more than 90% off the retail cost, all without any risk. One out of every three YNL players has won a gift card, saving an average of 96% per win. The average win price on a $25 card is $3.67, and $50 cards are being won on average for $4.82. With these savings, the YouNeverLose team expects to save consumers more than $500,000 its first year of existence.
"When we created YouNeverLose.com, we knew we had something special in the makings – to see this initial success validate our concept makes us ecstatic, and anxious for the possibilities the future holds," said co-founder Barry Shore. "Before YNL, penny auction sites were doomed for failure. They ended up scamming users by wasting their time and money on these sites. We've showed consumers that a penny auction site can work, and astonishing savings can in fact be had on our site. The best part is that you absolutely cannot lose by playing."
YouNeverLose.com works by leveraging many of the positive aspects of the well-known penny auction process with several fundamental differences. In the typical penny auction, multiple players incrementally purchase bids on a particular item up for sale. Every time a bid is placed, the price of the item rises from zero by one cent until the allotted period of time expires. The person with the last bid wins the item for the final price listed. The main complaint with most penny auction sites, however, is a big one—those who do not win usually lose all the money they spend on bids.
With YNL, if they don't end up with the ultimate award, like paying $5 for a $100 Amazon.com gift card, YNL offers a built-in incentive that for every dollar spent in buying points to play in the auctions, users choose a prepaid gift card of equal value which is shipped for free. Users are guaranteed to walk away at a minimum breaking even. YNL's core value is that consumers and small businesses can stretch their dollars by bidding on these deeply discounted prepaid gift cards without risk.
When the site first launched, auctions were only hosted during the daytime hours, but due to the success and adoption of players, auctions are now hosted 24 hours a day, seven days a week. The list of reward cards that players purchase for bidding points continues to grow, with now nearly 30 different cards to choose from – and something for everyone, including Gap®, AMC Theatres®, Macy's® and Sears®.
In addition to these new reward cards, the YouNeverLose.com Facebook application launched this year, building up a fan base of more than 16,000 already. An affiliate program is set to launch this summer, and in July YNL is slated to launch in HTML 5, making it easy for YNL fans to play anywhere, anytime, and on any device. With these new features to the site and added product offerings, the YNL team continues to grow. The site went live with three employees, and now has 14 members on staff. YNL plans on adding more staff in the upcoming months to supplement its growth in users and new features.
"Where else can you get deals like this?" said Shore. "You simply can't. Consumers spend hours sifting through daily deal sites searching for 50% off deals they don't even care about. With YNL you are essentially being handed cash – especially when you win Visa and MasterCard gift cards – to spend at your favorite retailers for having fun and spending merely minutes playing on YNL. We are revolutionizing the auction industry."
For more information, please visit www.youneverlose.com.
About YouNeverLose.com, LLC™:
YouNeverLose.com, LLC is headquartered in Los Angeles, California. YouNeverLose.com is the only site on the market where players can play to win amazing prepaid gift cards at more than 90% off retail without risk. If you don't win, you don't lose a dime. If you spend $50 for reward points to play in the auctions, you immediately receive a $50 gift card of your choice sent to you in the mail with free shipping. Playing is so much more fun when you never lose.
YouNeverLose, LLC™ and YouNeverLose.com™ are registered trademarks of YouNeverLose, LLC.