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QuiBids - Bidding or Betting?
No doubt, QuiBids came out of nowhere and they're making enough money to inundate the marketplace with television ads. The question becomes, is this site worth a visit and is it for real? There are some message boards screaming scam. Other message boards raise more questions than post answers.
On the other side of the coin, it would appear that there are those out there thinking that QuiBids is worth their time studying. I read one post in which the author called the site a scam and accused the site of using bots to place bids. Whether this is true or not, the question becomes can you really buy "X" for as little as "Y". One author claims he was banned from bidding for a period of time, as he won three times in as little as twenty-four hours. Yet, another author stated that his "loss" is a "gain" as QuiBids lets one roll their bids toward the purchase of a product.
In other words, if you lose, you still win.
The only way to know if this site is worth your time (and money) is to take a visit and watch the action - which I did. The first problem that hit me was trying to find something (anything) worth winning. I would never bid on a gift card, as what's the point of trading cash for cash - in which I'm locked into where I have to spend that cash.
They're offering a few televisions, but, I already have three televisions and have no need for another one at the moment. They're offering an espresso maker, but I don't drink espresso. I came upon a Corza Putter but, don't play golf. I guess I could just drop some of my bids (credits) on getting a hundred additional bids but, what's the point - if I can't find anything in which to put those bids to work?
I don't trust a site that throws out a BBB Accreditation - front and center - on their homepage. I think that sites that push affiliations through the BBB do so, to receive some form of validation from a trusted third party. The BBB does NOT endorse QuiBids nor has the BBB evaluated Quibids, as to their quality of business product or competency in performing services.
The BBB statement on QuiBids site states the following:
QuiBids may also think that 506 complaints is a low number of complaints to have been lodged against it, as they clearly post their total number of BBB complaints on their site. My concern is NOT the number of complaints they have had but, the subject matter of those complaints. It appears as though many of their complaints are addressed toward advertising/sales issues. I also have some concerns with their posted third party audit report, as that report comes with many disclaimers, that in my opinion, voids any value to the findings of such a report.
The next question would be is if QuiBids is a gaming site? In Florida, there's a big question surrounding internet cafes, which offer sweepstakes. Basically, you go into one these cafes, buy internet time and start playing for prizes. QuiBids seems to be more a game of chance then anything else. You buy credits and you play those credits on their site, hope to get lucky and win a big prize for a few bucks. After all, their television commercials appear to promote the idea that you can get lucky and win a 60 inch plasma for little money. Of course, the ads also include some teasers that appear to draw the viewer into a world where it's possible to get something of value for nearly nothing. I've seen some television ads for the Florida Lottery and get those same feelings of winning something (anything) for just a few dollar investment.
When users are purchasing bids (credits) and then placing hundreds, if not thousands of bids, are they actually bidding or betting? QuiBids (in my opinion) appears to use their 101 section, as a way to answer questions but, offer up every possible disclaimer to keep the investigators and lawsuits at bay.
In reviewing QuiBids Going After the Big One section, I've never heard of an auction site that talks about a high risk/high reward scenario (their words, not mine). It almost sounds like a commodities trading disclaimer.
In another part of their site, concerning winning expensive items with a low number of bids, they state:
Feel free to try your hand at winning with only a few bids placed, but do so with the knowledge that such a win is much less statistically likely.
Again, this sounds (and reads) more like a lottery/sweepstakes entry than an auction site. They appear to be informing users that the odds are low for winning an expensive item. I take the aforementioned statement to mean that if I buy a pack of bids (credits) and place them all on a high ticket item, that I'm statistically less likely to win than if I placed my bids on a $25.00 gift card. Guess what? I don't want a gift card.
In another statement they state:
On the other side of the coin, it would appear that there are those out there thinking that QuiBids is worth their time studying. I read one post in which the author called the site a scam and accused the site of using bots to place bids. Whether this is true or not, the question becomes can you really buy "X" for as little as "Y". One author claims he was banned from bidding for a period of time, as he won three times in as little as twenty-four hours. Yet, another author stated that his "loss" is a "gain" as QuiBids lets one roll their bids toward the purchase of a product.
In other words, if you lose, you still win.
The only way to know if this site is worth your time (and money) is to take a visit and watch the action - which I did. The first problem that hit me was trying to find something (anything) worth winning. I would never bid on a gift card, as what's the point of trading cash for cash - in which I'm locked into where I have to spend that cash.
They're offering a few televisions, but, I already have three televisions and have no need for another one at the moment. They're offering an espresso maker, but I don't drink espresso. I came upon a Corza Putter but, don't play golf. I guess I could just drop some of my bids (credits) on getting a hundred additional bids but, what's the point - if I can't find anything in which to put those bids to work?
I don't trust a site that throws out a BBB Accreditation - front and center - on their homepage. I think that sites that push affiliations through the BBB do so, to receive some form of validation from a trusted third party. The BBB does NOT endorse QuiBids nor has the BBB evaluated Quibids, as to their quality of business product or competency in performing services.
The BBB statement on QuiBids site states the following:
BBB has determined that QuiBids meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.
I also don't trust a site that seeks publicity through respected news outlets and places the news channel logos on their media page, as though they're badges of recognition.QuiBids may also think that 506 complaints is a low number of complaints to have been lodged against it, as they clearly post their total number of BBB complaints on their site. My concern is NOT the number of complaints they have had but, the subject matter of those complaints. It appears as though many of their complaints are addressed toward advertising/sales issues. I also have some concerns with their posted third party audit report, as that report comes with many disclaimers, that in my opinion, voids any value to the findings of such a report.
The next question would be is if QuiBids is a gaming site? In Florida, there's a big question surrounding internet cafes, which offer sweepstakes. Basically, you go into one these cafes, buy internet time and start playing for prizes. QuiBids seems to be more a game of chance then anything else. You buy credits and you play those credits on their site, hope to get lucky and win a big prize for a few bucks. After all, their television commercials appear to promote the idea that you can get lucky and win a 60 inch plasma for little money. Of course, the ads also include some teasers that appear to draw the viewer into a world where it's possible to get something of value for nearly nothing. I've seen some television ads for the Florida Lottery and get those same feelings of winning something (anything) for just a few dollar investment.
When users are purchasing bids (credits) and then placing hundreds, if not thousands of bids, are they actually bidding or betting? QuiBids (in my opinion) appears to use their 101 section, as a way to answer questions but, offer up every possible disclaimer to keep the investigators and lawsuits at bay.
In reviewing QuiBids Going After the Big One section, I've never heard of an auction site that talks about a high risk/high reward scenario (their words, not mine). It almost sounds like a commodities trading disclaimer.
In another part of their site, concerning winning expensive items with a low number of bids, they state:
Feel free to try your hand at winning with only a few bids placed, but do so with the knowledge that such a win is much less statistically likely.
Again, this sounds (and reads) more like a lottery/sweepstakes entry than an auction site. They appear to be informing users that the odds are low for winning an expensive item. I take the aforementioned statement to mean that if I buy a pack of bids (credits) and place them all on a high ticket item, that I'm statistically less likely to win than if I placed my bids on a $25.00 gift card. Guess what? I don't want a gift card.
In another statement they state:
Focus your bidding on a single auction at a time. Users who focus their
attention on one item have a higher success rate and are generally more
satisfied with their experience using QuiBids. Also, never enter an
auction without a sufficient number of bids. Keeping your focus means
doing whatever it takes to avoid leaving mid-auction to purchase
additional bids.
Finally, be sure to set a budget on bids you’re willing to spend and stick to it.
The statement that raises the hair on the back of my neck is the one in which they state one should never enter an auction without a sufficient number of bids. This sounds like "don't come to the poker table without enough cash in your pocket as it's a no limit game".
I don't know about others out there, but, when someone tells me to set a budget and stick to it, it sounds like the advice you get from your father before heading to the casino - Son, take my advice and only bring what you can afford to lose and no more.
Auctions are usually pretty straight forward. You place a bid and check on it every so often over a period of a day or even a week. What I'm not used to seeing is a site in which bids are placed as fast as pumping dollars into a slot machine. I find no joy or excitement in competing for an espresso maker, golf putter or gift card on a site that tells me that I'm statistically at a disadvantage when bidding on the FEW items worth winning.
The idea of dumping money on QuiBids to eventually get an item through a "Buy Now" option simply turns me off. In addition, any site that discloses what its profit margin is (per day) in conjunction, with listing BBB Accreditation and Grand (whomever) audit reports - in the first few links on their homepage - is highly questionable to me. In fact, the disclosure of QuiBids profit margin (QuiBids claims to run a profit margin of 5% to 10% per day) sounds to me like a casino disclosing the house odds.
Then again, QuiBids actually has devoted an entire page to why QuiBids is NOT gaming/gambling and one source they cite that makes it so is Wikipedia. QuiBids states that as a matter of law there must be consideration, chance and prize for an activity to be considered gambling.
Let's see. I buy a pack of bids (the consideration) and start placing those bids on prizes - I may have a low statistical chance of winning and may actually win a prize - if I get lucky - huh?
The first question you have to answer for yourself when you visit this site is whether you need or want anything on their one page wonder. If you find nothing, there's no point in spending money for a click (or many clicks) of the mouse.
I think that sites such as QuiBids raise interesting questions concerning online lotteries and sweepstakes. Is each click considered an entry into a contest to win a prize? If so, should this site be deemed a sweepstakes site and be subject to state and federal laws regulating lotteries or online gaming?
Should sites like QuiBids be regulated as to how many clicks on a bid button (in a specific amount of time) constitutes a betting action versus a bidding action? In other words, if a user purchases a pack of bids and sits in front of their computer clicking on that bid button every few seconds, are they placing a bid or hitting a button that's akin to hitting a spin button on a slot machine?
If one looks at QuiBids Alexa rankings, QuiBids is high on the food chain in gaining the type of daily audience it needs in which to fuel its continued success. According to Alexa site statistics, QuiBids audience is comprised of mainly females, aged 45 on up, with the largest segment of their female audience being over age 65. The browsing location of choice is from home. This tells me that the elderly can sit at home and opt to watch QVC, HSN, place bids on QuiBids or, do all three at once. A dangerous combination for those on Social Security.
If you're going to gamble, get on a bus with your church group, go to a casino, get a comp card and lose your money in a proper manner. Play your favorite game and get a free meal when you lose or, spend your comp points buying that putter or espresso maker that you think you need today but, will put away in storage in your garage a few weeks from now. In other words, keep gambling at bay (and money in your pocket) by making plans to go with friends to a casino as a group. In fact, if you need to gamble, go play Bingo and support your local church.
If QuiBids a flash in the pan, it will gone fairly quickly. If it's here to stay, regulators may have to take a closer look at how addictive and destructive penny auction sites have become.
Remember, bet (I mean) bid, with your head, NOT over it!
The statement that raises the hair on the back of my neck is the one in which they state one should never enter an auction without a sufficient number of bids. This sounds like "don't come to the poker table without enough cash in your pocket as it's a no limit game".
I don't know about others out there, but, when someone tells me to set a budget and stick to it, it sounds like the advice you get from your father before heading to the casino - Son, take my advice and only bring what you can afford to lose and no more.
Auctions are usually pretty straight forward. You place a bid and check on it every so often over a period of a day or even a week. What I'm not used to seeing is a site in which bids are placed as fast as pumping dollars into a slot machine. I find no joy or excitement in competing for an espresso maker, golf putter or gift card on a site that tells me that I'm statistically at a disadvantage when bidding on the FEW items worth winning.
The idea of dumping money on QuiBids to eventually get an item through a "Buy Now" option simply turns me off. In addition, any site that discloses what its profit margin is (per day) in conjunction, with listing BBB Accreditation and Grand (whomever) audit reports - in the first few links on their homepage - is highly questionable to me. In fact, the disclosure of QuiBids profit margin (QuiBids claims to run a profit margin of 5% to 10% per day) sounds to me like a casino disclosing the house odds.
Then again, QuiBids actually has devoted an entire page to why QuiBids is NOT gaming/gambling and one source they cite that makes it so is Wikipedia. QuiBids states that as a matter of law there must be consideration, chance and prize for an activity to be considered gambling.
Let's see. I buy a pack of bids (the consideration) and start placing those bids on prizes - I may have a low statistical chance of winning and may actually win a prize - if I get lucky - huh?
The first question you have to answer for yourself when you visit this site is whether you need or want anything on their one page wonder. If you find nothing, there's no point in spending money for a click (or many clicks) of the mouse.
I think that sites such as QuiBids raise interesting questions concerning online lotteries and sweepstakes. Is each click considered an entry into a contest to win a prize? If so, should this site be deemed a sweepstakes site and be subject to state and federal laws regulating lotteries or online gaming?
Should sites like QuiBids be regulated as to how many clicks on a bid button (in a specific amount of time) constitutes a betting action versus a bidding action? In other words, if a user purchases a pack of bids and sits in front of their computer clicking on that bid button every few seconds, are they placing a bid or hitting a button that's akin to hitting a spin button on a slot machine?
If one looks at QuiBids Alexa rankings, QuiBids is high on the food chain in gaining the type of daily audience it needs in which to fuel its continued success. According to Alexa site statistics, QuiBids audience is comprised of mainly females, aged 45 on up, with the largest segment of their female audience being over age 65. The browsing location of choice is from home. This tells me that the elderly can sit at home and opt to watch QVC, HSN, place bids on QuiBids or, do all three at once. A dangerous combination for those on Social Security.
If you're going to gamble, get on a bus with your church group, go to a casino, get a comp card and lose your money in a proper manner. Play your favorite game and get a free meal when you lose or, spend your comp points buying that putter or espresso maker that you think you need today but, will put away in storage in your garage a few weeks from now. In other words, keep gambling at bay (and money in your pocket) by making plans to go with friends to a casino as a group. In fact, if you need to gamble, go play Bingo and support your local church.
If QuiBids a flash in the pan, it will gone fairly quickly. If it's here to stay, regulators may have to take a closer look at how addictive and destructive penny auction sites have become.
Remember, bet (I mean) bid, with your head, NOT over it!
Posted by Posted by Jewelry News at Wednesday, September 14, 2011 10:01 PM 
Categories: uncategorized
Tags: quibids auctions fraud BBB scams auction sites bidding bids auction Gaming Lotteries Sweepstakes Betting Sites Las Vegas Slot Machines
Categories: uncategorized
Tags: quibids auctions fraud BBB scams auction sites bidding bids auction Gaming Lotteries Sweepstakes Betting Sites Las Vegas Slot Machines
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