I'm a business owner. I make my living by looking for opportunities that have not yet been developed by other people. This puts me in the weird position of being, AFAICT, the farthest-left person on this forum, but unbothered by the unregulated systems described in this thread.
I like the contradictions this thread brings out! In me and everyone. They tickle my brain.
As for fairness, well, I don't like any system that makes me have to get online in the wee hours :). I think a lottery system would be much more fair to people who have to work, etc.
Anything that involves fines, cancellation fees, etc., will have no effect on people with money but will be a serious hardship for people with less.