How do I obtain a dropping (deleting) domain name?  How much will it cost me to do so?
First, you should be aware that all domain names scheduled to drop on your designated list date will become available to register specifically during one the following windows:

• .COM/.NET: 2:00 - 3:15pm ET
• .ORG: 9:30 - 10:30am ET
• .INFO: 4:30 - 5:00am ET
• .BIZ: 2:30 - 3:00am ET
• .US: 1:00 - 1:30am ET

An interesting new site, DNMeter.com, allows you to learn the exact second each .COM/.NET domain will drop.  Check it out.

You could typically grab .COM domains with resale values of $20 or less less, as well as non-.COM domains valued at $30 or less, either (a) manually, by registering the domain immediately following the moment it drops, or (b) using an automated drop-catcher.

If we value a domain above $30, chances are that either domain retail giant BuyDomains.com or another domainer has his/her eye on the name as well and intends to secure it the moment it drops.  To maximize your chances of beating him/her to the chase, you'll need to call upon a backorder service to aid you.  Backorder services work automatically on your behalf to register domain names the split second they become available.  These services implement backorders by exercising their partnerships with multiple registrars, commanding each to spew hundreds of domain registration requests per second at your domain's scheduled drop moment in a heated effort to capture it.

If we have valued a domain between $30 and $75, your most cost-efficient move would be to backorder the domain on GoDaddy (see below for procedural details).  GoDaddy charges at little as $8.99 per backorder and will harness eight registrars (GoDaddy.com, Blue Razor, Wild West, Go Australia, Go Canada, Go China, Go France, and Go Montenergro) in attempt to secure your domain.  The other inexpensive alternative, Name.com's Domain Nabber, charges $18.99 per backorder upfront and only utilizes three registrar tags, offering less service for the buck than GoDaddy's does.

.COMs representing generic products and services (RainGutters.net, PersonalCooling.com, etc.) as well as domains we've appraised above $75 represent the highest-quality drops.  In all likelihood, therefore, at least one another domainer will backorder it on at least one of the three powerful services: SnapNames, NameJet, and Pool.com.  Each of these three backordered services controls several hundred partner registrars, compared to GoDaddy's eight, and as such, even one domainer backordering a name on one of those three services will eliminate GoDaddy's chances of capturing it.  In order to compete with these other domainers, therefore, you'll probably need to backorder the name on these three services as well.  However, whichever of these big-3 scores your domain will charge you at least $59 for the grab, compared to GoDaddy's would-be $8.99.  It's more money for a surer backorder.

How can you know whether a domain has been backordered on one of the big-3?  In the cases of SnapNames and Pool.com, you can't; they keep all backorders private.  It's easy, however, to find out whether a domain has been backordered.  Around noon ET (for.COM/.NET domains) of the domain's drop date, simply go to:
http://www.namejet.com/Pages/Auctions/BackorderDetails.aspx?domainname=xxxxxxx.com
...where xxxxxxx.com is the domain you wish to query.  If NameJet shows that at least one bid has been cast, don't bother backordering the domain on GoDaddy as GoDaddy will fail to capture it.

In case you're curious, you can view a (slightly oudated) list of the big-3's partner registrars here:
http://www.domaindetectives.net/resources/registrar_owners/

Note that:

• SnapNames operates the registrars listed at directi.php, dotster.php, and snapnames.php.
• NameJet operates the registrars listed at enom.php and bbbulk.php.
• Pool.com operates the registrars listed at momentous.php.  

To toss yourself in the running for these high-quality drops, we recommend you (1) Backorder them on SnapNames & Pool.com immediately once you feel comfortable doing so based on your research, and (2) Backorder them on NameJet around 15-30 seconds before NameJet's backorder deadline (12pm ET the day of the drop for .COM/.NET domains).  See below to learn the costs and how-to's for each of these 3 backorder services.

When a domain named is backordered on SN, NJ, and Pool.com, SN will capture it 50% of the time, NJ 30% of the time, and Pool.com 20% of the time.

A dropped domain's creation date resets ("loses its age") the moment the becomes available to register.  Backorder service fees cover the resources necessary for domain capture plus one year of domain registration.
 

How do I backorder a dropping domain on GoDaddy?  How much will it cost me?
We strongly endorse GoDaddy as a low-cost backorder alternative to the likes of SnapNames, NameJet, and Pool.com.

You can place GoDaddy backorders for as little as $8.99 each by signing up for a DomainAlert Pro Investor's Edge account ($25.49/mo with coupon code downforce), placing your GoDaddy backorders in groups of 9 or more via Domain Manager > Buy/Sell > Backorders and Monitoring, and then applying a 25%-off-$100 coupon code such as EMMA25 or WEASEL25 to your cart before checking out.  You'll need to complete placing your backorders by 1:30pm ET (for .COM/.NET domains) for GoDaddy to attempt your captures during the 2:00pm - 3:15pm ET drop window.

Three outcomes are possible with a GoDaddy backorder:

1. Capture Succeeded - GoDaddy grabbed the domain and you may now manage it under Domains > My Domains.
2. Capture Failed - Either BuyDomains.com or a heavy-duty backorder service such as SnapNames secured the domain before GoDaddy could.  GoDaddy will provide you a backorder credit which you may apply towards a future GoDaddy backorder.
3. Private Auction - GoDaddy captured the domain, but you weren't the only party who backordered it on GoDaddy.  GoDaddy will now proceed to kick off a private, 7-day auction between you and those competing parties.  You may view the status of this auction under your Bidding List (auctions.godaddy.com > "Watching" [left sidebar]) and you may issue bids, but GoDaddy will shield the participant list and auction history from view.  Note that you WILL lose this auction by default unless you were the first to backorder the domain, in which case your Bidding List will display you as the high bidder.  Bidding within the final 2 minutes before the auction's end time (initially scheduled at 5pm ET) will extend the auction by 2 minutes.  If you win, you will actually be charged your high bid minus $10 at checkout since you've already supplemented that $10 via your backorder credit.  If you lose, GoDaddy will allow you apply that credit towards subsequent backorders.

Only about 20% of the NameFlipper domains GoDaddy secures get sent to auction due to multiple backordering parties.  Of the these 20%, 40% require a mere $15 bid to win and another 45% are winnable $60 or less.  Only 15% of domain auctions surpass $60, and these are typically cases in which one or more end-users are participating in the auction (end-users are typically unaware of SnapNames, NameJet, and Pool.com as backorder options).
 

How do I backorder a dropping domain on SnapNames (SN)?  How much will it cost me?
You can backorder a domain on SN by keying it into the "Search Domains" field on their homepage, checking the box next to the domain's listing on the Search Results page, hitting Add To Cart, and then checking out.  In contrast to GoDaddy, SN does not mandate an upfront backorder fee.  If SN successfully captures the domain and it turns out you were the sole backordering party, SnapNames will bill your credit card on file $59 and deliver you the login information of the account they created for you on their capturing registrar.

If multiple individuals had backordered the domain on SN, a private 3-day auction will ensue among all backordering parties shortly following domain capture.  The highest bidder is deemed the winner of the auction.  If there's a tie (i.e. because multiple parties placed the minimum $59 backorder bid and nobody increased theirs during the auction), the party who had backordered the domain first wins.

For this reason, we actually recommend using SN's Bulk Order (Bulk Tools > Bulk Order) feature to place your backorders.  Bulk Order allows you to set your initial bid to any amount you decide, not the $59 that requesting your backorder through SnapNames' regular procedure defaults to.  Specifically, we advise you to plug a $60 backorder into the Bulk Order tool as the vast majority of participants will place the minimum $59 backorder bid, thus falling just shy of your $60 no matter how far in advance the other parties join.

Backorder auctions can end for any amount between $59 and tens of thousands of dollars.  Obviously, higher-quality domains tend to sell for more, though this does not always turn out to be the case.

SnapNames backorders can be placed up until the minute drops begin.  Since nobody can publicly view which SN domains have been backordered, backorder "sniping" is not necessary.

If SnapNames fails to capture your domain, you should delete it from your backorders list or else SN will re-queue your backorder for the next time the domain drops.
 

How do I backorder a dropping domain on NameJet (NJ)?  How much will it cost me?
To backorder a domain on NJ, head to their homepage, key the domain name into their Search box (top), and hit the "Pending Deletes" tab on the Search Results page.  Check the box next to the domain, select "Backorder Selected Domains", then click Backorder Now and OK.  NJ mandates no upfront charge for placing backorders.  If NJ successfully captures the domain and it turns you were the sole backordering party, they will bill $69 to your credit card on file and transfer the domain to a designated eNom account for your management pleasure.

If multiple individuals had backordered the domain on NJ, a 3-day private auction will ensue among all backordering parties should NJ successfully commandeer the domain name.

CAUTION: You should time your NJ backorders delicately as backordering a domain on NJ immediately thrusts it to the top of NJ's "Expired Domain Name" list, directly accessible from the homepage, drawing attention (and, almost always, more bids) to that name:
http://www.namejet.com/Pages/Auctions/PendingDeletions.aspx

Therefore, if a domain has no NJ backorders yet and you plan on placing one to optimize your chances of capturing the name, you should absolutely wait until 15-30 seconds prior to NJ's backorder deadline (12pm ET for .COM/.NET domains) before hitting that "Backorder Now" button, and even then, place only the minimum $69 backorder.   This last-minute "backorder sniping" naturally leaves other users insufficient time to join as backorder competitiors.  Because suprisingly few domainers exercise NameJet backorder sniping, you can apply this method to score some excellent bargains.

If a domain has already been NJ-backordered, of course, there's no harm in you jumping on the bandwagon at NJ's $69 minimum backorder bid.  This scenario obviously precludes sniping.
 

How do I backorder a dropping domain on Pool.com?  How much will it cost me?
You can queue a domain for backorder on Pool.com by entering you desired domain into "Domain Search" box (homepage, left sidebar), then clicking "Backorder Now" next to the name's listing on the results page.  Should Pool.com successfully capture the domain and it turns out you were the sole backordering party, Pool.com will bill $60 to your credit card on file and transfer the domain to a holding account with one of their partner resellers (usually NameScout) for you to manage.

If multiple individuals had backordered the domain on Pool.com and Pool.com managed to capture it, a 3-day private auction will ensue among all backordering parties.  The highest bidder wins the domain name.

You could place a Pool.com backorder until the minute the day's drops begin, though backorders cannot be retracted during or within 30 minutes prior to that drop window.  Because all Pool.com backorders remain private between you and Pool.com until the drops begin, you could safely place Pool.com backorders as far in advance of the drop window as you please.
 

What's the difference between the various backorder services?
Here's a side-by-side comparison of all available services:

* With DomainAlert Pro Investor's Edge subscription ($25.49/mo), backordering in groups of 9 or more, and application of a $25%-off-$100 coupon code.
** = Assuming the domain is backordered on SnapNames, NameJet, or Pool.com.  If the name is not backordered on any of these 3 services, there's a strong chance GoDaddy or Name.com will secure it if you backorder the domain using their respective services.
*** = As a workaround, consider requesting a PayPal Debit Card.

I didn't backorder domain xxxxxxx.com but am curious to learn which backorder service (if any) caught it.  Is there any way to find out?
There are a few simple rules which allow you to determine, with high accuracy, which backorder service snatched that domain name:

• If its registrar is one of GoDaddy's eight partners (see "How do I obtain dropping domains?"), GoDaddy secured it.
• If one of Name.com's three partners, Name.com nabbed it.
• If the domain's primary name server reads NS.BUYDOMAINS.COM, BuyDomains.com caught it.
• If the domains registrar's TLD ends in ".CA" or the registrar was incorporated in Germany ("GmbH"), Pool.com nailed it.
• If you head over to http://www.namejet.com/Pages/Auctions/BackorderDetails.aspx?domainname=xxxxxxx.com and NameJet shows no backorders were place, NameJet did NOT land it.
• If the domain's registrar contains the letters "eNom" followed by a set of numbers, NameJet captured it.
• If the domain registrar is an LLC, SnapNames almost certainly seized it.
• If the domain's primary name server reads NS1.INTERRIMNAMESERVER.COM or NS1.OREGONNAMES.COM following the drop window, SnapNames lapped it up.
• Otherwise, the domaindetectives.com registrar partner list (under "How do I obtain dropping domains?") might help you determine which registrar commandeered the domain.
• If domaindetectives.com doesn't list the registrar (particularly if the registrar's Dynadot, Moniker, or ENOM.COM), another domainer most likely picked the name up manually or using an automated drop-catch tool.