this post was submitted on 31 Aug 2025
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So like, how do refunds work?
If you can't get a refund and you paid double, you're screwed and you might not even get a satisfactory product. But if you can get a refund, you can just try it and immediately get a refund if it didn't go your way, breaking the system.
On the flip side, if you won the gamble and paid nothing, you might still get a shit product. In this case you can't get a refund because you didn't pay anything, but the product still isn't worth its purported price, and you still took the gamble based on this false value. It's still a rip-off.
Maybe gambling and shopping don't go together quite as well as it first appears.
If you pay nothing, the payment provider actually paid, and they get the refund. If you paid double, then the merchant still only got paid once, and you get that share back.
You "flip" the coin at any time during the eligible refund period, but the result is only revealed after the refund period has expired.
They had better pay me interest while they're holding my money, then.
Do they get interest for the product you held during the return period?
Yes, they get a slightly used product in return
You typically earn interest for granting someone the privilege of the use of your money.
Do products in warehouse typically earn interest, or do they depreciate?
Your username checks out, lol. At 5% APR, 30 days' worth of interest on this $390 purchase is ~$1.63.
And if we consider that Nike is acting as a bookmaker in this case, the house edge for a bookmaker is around that amount anyway. Nike is likely to bake this edge into their margin anyway, but I don't think it's likely that you'd get a bonus of $1.63 if you win this bet, in this hypothetical.
What I'm trying to say is that this scheme gives the retailer an interest free loan on every purchase, courtesy of the customer, so fuck them for that.
Don't credit cards usually give 21 days of interest free grace period? So this is over ~9 days worth of interest? Fuck them for that? Not fuck them for exploiting gambling addiction, but for not giving the consumer their two quarters worth of interest?
Why do we have to choose just one thing to fuck them for? I by no means made this the exclusive reason to fuck them.
I'm not talking about the interest I pay on my credit card, I mean that if they're holding my money so that I can't use it, they better pay me for that.
They'd effectively be crowed sourcing micro-loans from unsuspecting average customers, without compensating them for lending. That's icky AF. So is taking advantage of gambling addiction, but they can both be icky AF.
I’d imagine it would refund the cost of the product to you no matter the result of the coin flip since it is basically gambling. If you return it after getting it for free you get paid the cost and if you return it after paying double you still get back the cost.
That's just a casino.
Degenerates would just add the biggest items to their cart and gamble for the chance at 'free' money