I've won 6 auctions on Happy BidDay, all for $25 gift cards, which won't make me rich, but did give me a nice ROI. It took a couple hundred wasted bids to figure out the best strategy, but since I only paid .06 for bids, it was a cheap lesson.
Unlike other sites (Beezid, Quibids), you can set more than one auto-bid (BidRunner on HBD) service for an auction. The limit for a capped auction (don't even bother with capped auctions) is two Bidrunners, but every other auction you can set as many as you want, for all intents and purposes.
The Bidrunner has a 25 bid limit, so the way to win an auction is first to wait until the price of the auction goes to at least $3. Count the number of bidders who obviously have Bidrunners going. There are usually 4-5 bidders at the $3 point. Since you know each of your bids counts .01 toward the price, figure you have 20 bids for every dollar added to the final price. With 4-5 other bidders, you are safe setting a Bidrunner for 20 bids for every dollar increment. Set your Bidrunners for 20 bids for every dollar - 20 bids between $3 and $4, 20 bids between $4 and $5, and so on until you reach the price you are willing to pay for the gift card. I'm not willing to pay more than $6 for a $25 gift card because the shipping on HBD is already $4.
Now, you can go watch TV or make dinner and take a peek back into the auction to see if any of the other bidders dropped out. You can always add a new BidRunner for 10-20 bids to make sure yours doesn't run out before the $5 or $6 mark. I have fallen asleep and lost auctions when I didn't keep an eye on my BidRunner.
If you stay awake and feed the BidRunner little bits at a time, you will win.
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