Last updated: February 15, 2018 at 22:26 pm
I signed up for Madbid and used it for 2 weeks. Here’s my Madbid review.
A lot of people think Madbid is a scam.
Well, it’s not entirely.
Madbid is one of the largest bidding fee auction websites in the UK.
Advertising up to 89% off RRP on products such as iPads, SLR cameras, cars and more.
In this review I’ll go into exactly how Madbid works, and whether you should be using it to grab yourself a bargain.
Madbid auction page
How does Madbid work?
- Buy credits
- Use those credits to place bids on items
- You win if the timer hits zero and you’re the highest bidder
- If someone else bids, you’ll have to bid again
- Credits can quickly run out, so need to be topped up
… you deposit £100 you use that money to buy credits.
Once you bid, credits are taken from your account.
You can bid as many times as you’d like but every time you bid credits are spent.
That’s how Madbid can afford to sell iPads for £10 and cars for £1,000 as each time someone bids they use credits. They can also receive hundreds of bids on a single item.
Don’t get me wrong, people can (and do) get things very, very cheap.
But it’s essentially gambling, based on luck and can become addictive.
Signing up for Madbid requires an email and a mobile number.
After signing up they send you a text message with a confirmation code… I guess this is to check you’re not using a fake number.
Once in, you’re taken straight to the pricing page…
Madbid Pricing Options
You are a shown a big hero banner with an offer to double your credits if you buy now. It’s time sensitive to get you to buy straight away.
Here’s a breakdown of the pricing and credits:
- X-small at £27.99 for 275 credits
- Small at £34.99 for 350 credits
- Medium at £49.99 for 500 credits
- Large at £99.99 for 1000 credits
- X-large at £374.99 for 3750 credits
Update: After a couple of hours, they sent me another text message offering 200% extra free credits.
Update #2: After a couple of days I received another text stating they’ve added 100 credits to my account to a value of £10 free of charge. This was before I’d bought any credits therefore I’m unsure if this offer would have been sent if credits were already bought.
2 weeks of using Madbid
I signed up to the x-small package at £27.99 and used the code for get 200% more credits.
My first bidding experience
The first thing I noticed was the timing of the auctions. I first logged on at 2 am thinking less people would be bidding increasing my chances.
However only one auction was running, and it was a 1000 credit voucher. I bid anyway…
The auction was at £0.30 and I was the highest bidder at this point. Each time another bid came in, the timer reset to 1 minute.
After 8 bids… I just gave up.
More usernames were showing up as the highest bidder, so more people were watching the auction than I thought.
The next day
Throughout the next day I bid on various items… hovers, phones and laptops included. I didn’t get anywhere.
There was surprisingly few auctions running on a Sunday afternoon.
With fewer auctions comes more people bidding on the same items.
The weeks following
Throughout the next week I logged on precariously bidding on items here and there.
As soon as I bid, another bid came in right after.
Needless to say, I didn’t win anything. Not even close.
How do I win on Madbid?
Long story short, you probably won’t.
There seems to be far too few auctions with far too many bidders.
I’m not sure how many active user Madbid currently have, but I don’t think the odds are in our favour.
How to contact madbid
If you’ve already put money into Madbid they can be contacted in two ways:
- By phone on 0800 808 5180
- Or a support page https://uk.support.madbid.com/support/home
Is Madbid legit?
Although Madbid isn’t entirely a scam, it is gambling.
I wasted my time and about £30.
Not much… but it all adds up.
There’s not much strategy involved and you’re hoping another bid doesn’t come in before the timer hits zero.
Possibly more fun than wasting money on stereotypical gambling and bingo sites… but that’s just personal preference.
If you have the spare cash and want to do something that kills some time – go ahead. But certainly don’t use it expecting to win.
Madbid Review Summary
Madbid is that site we've all heard of, with luxury and expensive items going for pennies on the pound.
Is it worth it?