When registering a domain name, you have a 5 day grace period in which you can return the domain for a full refund. Domain Tasting is the act of buying a domain name, and testing it’s market value. Being able to find out if the domain name is capable of making money solely off the name or by existing linkage to the site, makes it risk free. You have 5 days to test this.
Domains that are successful in this test are added to the registrant’s portfolio. The success of a domain name usually depends on type-in traffic. They are also being tested for existing traffic because they are still listed in the search engines and other links around the web. Along with these things the domain name can be sold to a third party for a profit.
If the registrant decides that the domain is not capable of making money do to it’s name and existing traffic, the registrant will then return the domain for a refund. Domain tasting allows for a risk free testing of the domain name without ever having to pay for it, if you decide it will not make a profit for you.