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More than half, or 53 percent, of single people have created a dating profile, according to Match's recent Singles in America study, which polled over 5,000 single men and women in December.

Today, 40 percent of singles have dated someone they met online, while only 25 percent met a first date through a friend.

"Unlike shopping for a bank or a refrigerator, in the case of online dating, the refrigerator has to like you back," Gilman said.

"There is a different level of exposure to disappointment and that's captured in the poor overall scores." Once considered taboo, online dating is now a socially accepted and booming multibillion dollar business that continues to grow.

SOURCE: Consumer Reports "It's clear that online dating websites play a major role in the lives of many consumers — we invest a tremendous amount of time, money and emotional energy.