Football Index is a betting platform that mimics the stock market by allowing “traders” to buy and sell “shares” in football players. Last Thursday it announced a decision to reduce “dividends”, the payouts “traders” get when footballers they have “shares” in perform well, by about 80%.
Amazingly, is Football Index a con? Yes, Football Index is a gambling product. It’s fully licensed and operational. However, it’s not gambling like placing a spin on the roulette wheel, or even like placing an accumulator bet. Football Index really is like no other, if you are on a losing trade, remember it’s a 3 year bet.
Subsequently, can you make money with Football Index? In short, yes. Football Index are making money, as the daily traders are paying commission on a regular basis. Although for Football Index to make money, they would prefer that traders hold players for shorter periods, instead of stockpiling & collecting dividends.
Also, how does the Football Index work? In simple terms, with Football Index you are betting on a player topping the ‘Buzz chart’ as many times as possible in order to reward you with dividends – but money can be made (and lost) on both buying and selling shares in players (Football Futures) as the price changes.
In regards to, what will happen to my money in Football Index? The High Court of England and Wales set 26 March 2021 as the cut-off date for payment of Football Index dividends. This means that money held in player account funds can now be distributed. … If this happened, no customers could receive all the money they would be owed.Football Index operated under a licence from the Gambling Commission, which regulates sports betting products. However, its website mirrored a stock exchange, offering customers a chance to buy “shares” in leading footballers which returned “dividends” based on their performance on the pitch.
How long does it take to withdraw from Football Index?
Players have been advised to allow between two and ten working days from the date of the withdrawal request for the money to appear in their bank account.
Is Football Index in trouble?
Football Index entered administration in 2021 and had its gambling licences suspended following a number of issues arising out of policy changes and share-price crashes.
What happened to Football Index?
Football Index went offline after a series of crashes in its “football stock market”, where users could buy and trade “shares” in leading players which returned dividends according to their performances on the pitch.
What is average offer price on Football Index?
Average Offer Price: The average price of all Shares offered for sale by Traders in a particular footballer. This is refreshed every hour. 90 Day Traded Average Price: This is the average price of every Share traded in the last 90 days in a particular footballer. This is refreshed every hour.
How long can you hold a player on Football Index?
However, it’s not like bookmakers where your bets only last for 90 minutes. Football Index is a long term bet, as you can Buy shares in players and keep holding them for upto three years. It’s a real money game, where you must deposit money in order to play. You can’t lose more than you deposit.
Will Football Index customers get their money back?
Will I receive my money back from Football Index? That is our primary goal. At present, the trading licence of Football Index (or more specifically BetIndex Limited) has been suspended. Therefore, Football Index cannot take any meaningful action regarding refunds at present.
Can Football Index Be Saved?
Can I still invest? No. Football Index has confirmed that trading and payment transactions, including deposits and withdrawals, have all been placed on hold with its gambling licence now suspended. Its licence in Jersey is also set to enter administration on Thursday.
Can you invest in football players?
You can buy shares in footballers and play the long game on their future performance. If you think someone’s stock price will increase, you can buy him and cash in whenever you want as you watch the value rise – as long as it does rise. … Like any market, price is driven by supply and demand.
Is Football Index FCA regulated?
While Football Index was never regulated by the FCA, areas for improvement for the FCA have been identified, including in speed of response to requests from the Commission and consistency of messaging on regulatory responsibilities.
