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Updated: Walmart just closed that $50 Playstation 4 loophole

Updated: Walmart just closed that $50 Playstation 4 loophole
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Update (9:38 11/20/2014): As expected, Walmart has quickly closed this price-matching loophole. Also as expected, Walmart's price-matching deal just got worse for everyone. Now Walmart will only match prices from Walmart.com and 30 other major online retailers. It won't be matching prices from "marketplace vendors, third-party sellers, auction sites, or sites requiring memberships." This is why we can't have nice things.

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Black Friday is just over a week away, but you don't even have to wait that long to start getting killer deals. Walmart already matches competitors' discounts, so if you find your item online for cheap, Walmart will match the price. But, Walmart's price-matching days might be numbered. That's because a few bad apples decided to exploit a loophole in the money-saving policy in order to trick Walmart into selling Playstation 4 consoles for just $50. Now, the whole price-matching policy might be nearing extinction.

The tricksters' plan was pretty simple. They set up a fake third-party retailer shop on Amazon and then listed Playstation 4 consoles for sale for between $50 and $90. At that point, all they had to do is take a screen shot of the legitimate looking listing and show it to a Walmart clerk at checkout.

Though Amazon is quick to remove fake listings like that—and you'll never get that $90 PS4 from them—it's still simple to snag a screenshot and bring it to one of the big box stores.

Twitter is full of photos from shoppers who either created fake stores on Amazon themselves or took advantage of stores created by others.

Getting a Playstation 4 for a fraction of the retail cost might sound great, but there's one big reason why a scam like this is bad for everyone.

Next page: The scam hurts everyone in the long run
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