I landed on this site looking for car auctions.
Don't know how it's legal, it took me a while to work it out. It pretends it's an auction site where you can exercise skill low-bidding for a brand new car and getting it for a few thousand pounds when in reality it's a cross between roulette and a raffle. If you buy all the raffle tickets, or no one else buys a raffle ticket you're guaranteed a win, otherwise it's a straight gamble. At least the National Lottery calls itself a lottery and has rules to keep it fair.
You pay to bid (bet) and the price goes up 1p every bid until no more bids are made in 45 seconds, so to get to £2000 at 80p per bid brings in £160k plus the £2k from the winner for the car, so Madbid makes £142k profit it keeps just like a casino.
Any Madbid winners or losers on here?
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http://forum.charltonlife.com/discussion/43797/madbid-com