Some questions about E*P*N

Was looking thru the forum, seems a lot of people are working with the ebay affiliate program.
Just a few questions:
In their site it says they pay $25 when someone signups and places a bid or does a buy-it-now.
Now its not very clear on their site... By "places a bid", does the user actually have to WIN the item for the commission to credit, or is just PLACING a bid sufficient??

How hard is it to get accepted? What kind of site should you have to get better chances of getting in? How long before they approve you?

Thanks for the info.

The bidder does NOT have to win.. They only have to register and place a bid on something..

Approval was instant on my account..

Thanks for the info. Good to know that approval is instant.

Yeah, it was instant with mine too. Hoping to start having some of those $25 sign ups sooooon!