I am not a big gambler, but I love the concept here.
HEY DUMMIES THAT THINK IT'S A SCAM: DON'T BID ON THINGS YOU DON'T INTEND TO BUY ANYWAY! If you lose the auction, you can but the darn thing at regular (albeit full) price, and credit your 'bids' against it. If you are going to buy an iPad, for example, anyway, might as well bid on it, because Apple charges the same in the store as Quibids will online. At lease you have a chance at winning it, and it's kinda fun...