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MadBid.com Anyone used it? is it a con?

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Just looking at site is it worth a go? This is a form of gambling. If you find yourself with temptation to keep bidding, get in contact with http://www.gambleaware.co.uk Or http://www.gamblersanonymo… Read More
nutta Avatar
6y, 3m agoPosted 6 years, 3 months ago
Just looking at site is it worth a go?

This is a form of gambling. If you find yourself with temptation to keep bidding, get in contact with http://www.gambleaware.co.uk Or http://www.gamblersanonymous.org.uk/ if you haven't already done so.
- mrwhitelabel

General advice from others is AVOID AVOID AVOID !!!
- mrwhitelabel
nutta Avatar
6y, 3m agoPosted 6 years, 3 months ago
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(1)
The Guardian newspaper just did an article on it. And found it impossible to get anything cheaper than you can buy through an online store. In fact madbid was much more expensive even if you 'won' the bid. They also couldn't find or verify any of the 'winners' promoted by madbid.
Some very vulnerable people are having a lot of money taken of them. Yet some how this is legal? Someone needs to take action.

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banned#1
It's genuine but you have to pay for your bids :(
#2
Not worth it, you pay 50p for each bid which ups the auction by 1p. You'd end up parting with loads of money while getting nothing back.
Also bids within the last min of the auction up the time so auctions go on forever!!

Edited By: dh058977 on Feb 03, 2011 18:14
#3
If they can afford to sell a £500 telly for £2 they there must be more than 1000 people "bidding" on it (each parting with £0.50) for it to be profitable for them. And there's probably thousands, if not tens of thousands of people bidding.

It's a gamble. Do some research and think about the odds of getting something for a bargain price. Might just be better off buying a scratchcard or betting on something.

Edited By: oldmanhouse on Feb 03, 2011 18:17
#4
Halo Reach just sold for 6p! i can see its just a gamble, prob best not getting into it may get carried away...
#5
oldmanhouse
If they can afford to sell a £500 telly for £2 they there must be more than 1000 people "bidding" on it for it to be profitable for them.It's a gamble. Do some research and think about the odds of getting something for a bargain price. Might just be better off buying a scratchcard or betting on something.

Think about it, if they have a tv worth £500 and it sells for £30 then they make 50p for each 1p in that £30 so they make £3k - the cost of the tv.
#6
nutta
Halo Reach just sold for 6p! i can see its just a gamble, prob best not getting into it may get carried away...

Based on what i said above, they can obviously afford to do things like this once in a while! lol
#7
Its a dreadful way of conning money out of people. Its every bit as bad as gambling in a casino. You can end up bidding loads of money and still not win. Steer clear.
#8
"MAD"...bid....oO.......you pay for your bids,someone inside the company always puts in a bid higher than you. You end up with nothing ,they get your money.
It is on watchdog, if i remember !!!
#9
jcaho7
"MAD"...bid....oO.......you pay for your bids,someone inside the company always puts in a bid higher than you. You end up with nothing ,they get your money.
It is on watchdog, if i remember !!!

Was just watching an auction and the same person kept bidding without being outbid why would anyone do that looks like a right scam!
#10
"looks like a right scam??" ........because it is a bloody scam !!!...... that person works inside the company!!!.....:|

Edited By: jcaho7 on Feb 03, 2011 18:50
#11
love the auction for £400 cash with a RRP of £400 :P
#12
I won an auction (RRP £15) for 1p. Shipping & handling took it to £7.30 - considerably more than I could have got it from China.
NOT GOOD VALUE!
#13
Madbid , the clue's in the name (_;)

No seriously I tried this out a while ago when they gave you a couple quid to join to entice you. Never won anything and never used my own cash either. It just seemed impossible or as others have said highly dubious.
#14
Joined the site yesterday put £50- credit, PLEASE NOTE your deposit is NON REFUNDABLE it is only used for bidding and cannot be used for the actual payment of the item for which you have to pay again because you find out that credits are only for bidding etc

It is a bitter lesson to learn, in future always read reviews I lost my money through being stupid i.e. realised all the above within one hour of joining site. This site along with others is a SCAM it is something the internet has allowed to mushroom.
#15
joeking2
Joined the site yesterday put £50- credit, PLEASE NOTE your deposit is NON REFUNDABLE it is only used for bidding and cannot be used for the actual payment of the item for which you have to pay again because you find out that credits are only for bidding etcIt is a bitter lesson to learn, in future always read reviews I lost my money through being stupid i.e. realised all the above within one hour of joining site. This site along with others is a SCAM it is something the internet has allowed to mushroom.

Welcome to the site... Stick around... browse the deals section and you'll easily save yourself £50 elsewhere.
#16
joeking2
Joined the site yesterday put £50- credit, PLEASE NOTE your deposit is NON REFUNDABLE it is only used for bidding and cannot be used for the actual payment of the item for which you have to pay again because you find out that credits are only for bidding etc

It is a bitter lesson to learn, in future always read reviews I lost my money through being stupid i.e. realised all the above within one hour of joining site. This site along with others is a SCAM it is something the internet has allowed to mushroom.

Mad
#17
timtom13
joeking2
Joined the site yesterday put £50- credit, PLEASE NOTE your deposit is NON REFUNDABLE it is only used for bidding and cannot be used for the actual payment of the item for which you have to pay again because you find out that credits are only for bidding etc

It is a bitter lesson to learn, in future always read reviews I lost my money through being stupid i.e. realised all the above within one hour of joining site. This site along with others is a SCAM it is something the internet has allowed to mushroom.
Mad

Its official! oO
#18
I wish I read all these before I joined an hour ago!!! I've just flushed £35 down the drain.
#19
I learnt the hard way too. Thought that my credits would be deducted from the money I have to pay once I won the bid (not that you will ever win). Was enticed to bid on an I-pad, but realised price was going up and up ande even when timer was on Zero did not win. Within minutes lost £35 and nothing to show for. They then had the cheek to e-mail me to say that I "earned" a discount on the item I did not win and I could buy it now for discounted price (which worked out more than the RRP). Never again will I go there and I will be sure to let everyone know to stay clear.
#20
This is still news to people?

Obviously not good value.
#21
It's an absolute rip off. Recent auction for Mini car RRP £11,250.00. Madbid received £1,478.94 for auction price + 147,894 bid @ approximately 79p each = £116,836.26 and a grand total of £118,315.2. So even if they occasionally sell an item £10,000 below retail price they more than make it up on the majority of sales. Other examples are an iPad for £20,830.89 and £1000 in cash for 18,011.16. Check it out for yourself auction price x 100 = number of bids x cost of each bid (cost of 1 credit x number of credits for each bid) + auction price.
#22
It's not an auction it's a lottery
#23
Same thing thought I would join what the hell have a bit of fun and might win something, had a free day to relax and play around on the internet. I was happily bidding on a few auctions, when I started to notice a couple of ID's that never went away on certain auctions, yes I thought obviously they really want to win this and must be on auto buy so not to miss out, but as the day went on well over 10hrs yes sad I know I did have the TV on tooo ha ha I found myself watching these ID's closely and working out the amount of credits over the time and even more when the frenzy starts near the end + the end figure to be paid , no way the figures did not add up - the site state no employees etc can use the site, what about non employees corruption goes on in all walks of life, I understand its a business and they must get enough bids our cash to cover this, but I not sure all the bidders are for real, so won't be going there again.
#24
I agree with every word in these comment,s.they are robber,s steer clear and avoid it like the plague.i to bought £50 to bid,i didn't win the iPod touch,so I bought it,not only did i pay over the odd,s for it,but having checked my account i found out that they took not only the £120 but also 5 amount,s of£19.99 which I never authorised.i emailed them,and still waiting for the iPod touch and also a reply from them as to when they will credit my money to my account....don't be fooled into thinking you will get a bargain....you will never win,..believe me.
#25
I thought about going onto this site, but since I have read the comments, DONT THINK I WILL BOTHER. Cheerz Guyz Linda EK
#26
Yes,it's a scam!I won the bid 4 times(00.00.00)but nothing happened,it's going on and on,stupid way to loose money...I lost 28£ in 40 minutes or less.Never play again!
#27
Just joined and added £50, bid on iPad took all credits and didn't win a thing, you just see the timer being reset with supposed other bidders
#28
A very clever way of making money for the company but it is gambling, I tried today with £27 which disappeared very quickly. Even if its run honestly and I have no reason to believe it is not its better to go down to the bookies and put you money on a horse....
#29
is it a con?
Do bears **** in the woods?...
#30
Thank you all so much, I ALMOST just fell for this, I did register and get a password sent to my mobile but then started wondering why they needed my mobile and luckily I put the words "MadBid scam?" into Google and here I am. Looks like you have all saved me money I don't have to waste. Like they say if something seems too good to be true, it usually is. Lesson learnt. :|
#31
Yup a legalised(?) rip off. Stay clear.
Runaway, Runaway, Runaway, Runaway, Runaway, Runaway,
#32
Just like Jambers, I almost fell for this... I registered, and got a password sent to my mobile, but then luckily I was suspicious of what's going on.... In order to start bidding, I was to buy credits, whether I'm going to spend them all or not... The best value offered was £50. I wanted to double-check if this is a scam or not, and bumped into this website, and having read all these comments saved me... I'm not £50 out of pocket, thanks to you guys.... Definitely stay clear, it's not worth the trouble...
#33
stay well clear it the biggest con ever, my fingers are still burning have reported them to asa,and paypal
#34
Glad I found this site first.....thanks to all
#35
I just lost £50 on this site.

This is one huge con. There is a sSamsung Galaxy S4 16GBam which has reached £270 quid .

Work it out 27000 x 50p that's £13,500
#36
I signned up stupidly, quickly realised how flawed the system was and tried to get ride of my credits by auto bidding. Left it running for lunch. I get back and they had auto recharded my account without my knowing (5 times £19.99). I called them to explain the situation and the guy there told me I had signned up to let them do it and I should jump in a lake. Looked at the registration process again and they auto sign you up for the recharge service. BIG WARNING to anyone looking to try this site!! Oh forgot to mention the 'guy' I spoke to later emailed me from an email account with a girls name Rachel!
#37
madbid.com looked at this site over a year ago when you got free credits, thought I would give it a try then bought just £10 worth of credits I bid to win just 100 credits should have stopped at about 100 or 150 bids it kept going so I started bidding at about 175 bids took all my credits and finished at around 380 bids that was about 170.00 pounds they made for only 100 credits watched it last night first time in over a year you could bid to win 1000 to 10000 credits it was just luck what you won. the bids are now £1 for one credit didn't buy any this time just watched from 9pm till midnight people bidding none stop for three hours it stopped at around £39.00 in bids (A £1 BID = 1 CREDIT ADDED TO THE PRICE £0.01) that's a massing £3,900.00 with a message at midnight saying this will continue at 08.35 hours tomorrow? they made nearly 4k from bids and nobody won that night how much more would people bid the next day I don't know I went to work.
THINK ON THE ABOVE. MADBID DO NOT CARE WHO WINS AND YES THEY MAY HAVE A FEW ONLINE BOTS BIDDING IT UP ALL THE TIME. (JUST LIKE CAMELOT! AND THE LOTTERY) MADBID ARE THE ONLY WINNERS!!!. A FOOL AND HIS MONEY SOON PARTED.( ITS LIKE MAKING PHONE CALLS TO THE XFACTOR SIMON IS THE ONLY WINNER THIER).he doesn't care who wins the show that's why you never seen him on it any more to busy counting his millions
JUST A THOUGHT BEFORE YOU WASTE YOUR HARD EARNED CASH.££££!!!!
banned#38
It's hard enough trying to win an argument on this site against WhatsThePoint never mind winning on the Madbid site oO
#39
Don't ever ever get involved u will loose all your money don't fall into the trap and lose all your money this sitebshould be stored by the government's and thedral law it's up to you if u join and bid but u will loose all ur bid money if u don't win a bid up to u now I'. Being sensible not unreasonable and trying to hurt anyone good advice if it's to good to be true it probably is good luck I would say stick with a genuine bidding site like eBay but if u must be tempted happy bidding and let us all know what u won and how u got on cheers.
#40
wantengland
Don't ever ever get involved u will loose all your money don't fall into the trap and lose all your money this sitebshould be stored by the government's and thedral law it's up to you if u join and bid but u will loose all ur bid money if u don't win a bid up to u now I'. Being sensible not unreasonable and trying to hurt anyone good advice if it's to good to be true it probably is good luck I would say stick with a genuine bidding site like eBay but if u must be tempted happy bidding and let us all know what u won and how u got on cheers.
Thanx for that advice dude, had my suspicions but you've put me straight, thanx again o wise one :D

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