ArrowOutlet LLC, is it a scam, or is it legit at all? I spent hundreds of dollars on bids and only got an iPod nano, Internet

I joined ArrowOutlet over a month ago, and spent over $500 dollars in buying bids. 

The site markets itself a discount site, but I paid more in bids than the value of my items won!  For $520 spent, all I got back was an iPod Nano and a $50 gift card.  Both these things combinned are worth at most $300. 

How could they call themselves a discount site and still have users paying more than retail??  Sure, they have testmonials of users who won an iPhone for $20, but what they don't tell u is that some people lose money on the site.

I didn't know when I joined, but the site involves a lot of chance and risk.  I want discounts that I can count on for sure, I don't want some site that gives me a chance at a discount!  Sure some people can be saving a lot of money, but they don't guarantee that you'll save money!

Also, they tell you that there is a Buy-In-Now function, but get this: the buy it now only saves your bids off the retale price. 

I was dissapointed I did not save money through this site, but it told me I could save money.