Tag Archives: football index

Footstock surrenders UK gambling licence in Football Index aftermath

Football betting trading operator Footstock has surrendered its UK gaming licence and terminated its operations, just two weeks after competitor Football Index’s licence was revoked by the UK Gambling Commission (UKGC). Operating on a similar premise to Football Index, Footstock incorporated a ‘playing cards’ feature into its trading platform – reminiscent of the popular panini trading stickers game – in …

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UKGC responds to Football Index backlash

Following public concerns, the UK Gambling Commission (UKGC) has this afternoon published further information on its investigation and licence suspension of BetIndex – the operating company of under administration Football Index.  The Commission states that its formal license review proceedings began on 20 May 2020, following concerns about the business. Initial review proceedings focused on ‘issues in relation to the …

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UKGC warned over Football Index ‘pyramid scheme’ in January 2020

The UK Gambling Commission (UKGC) allegedly received a warning regarding betting exchange Football Index in January 2020, describing the website as a ‘dangerous pyramid scheme’. According to The Guardian, a document was sent to the UKGC, notably highlighted issues surrounding Football Index’s dividends, which it argued resembled the activities of a pyramid scheme. The report estimated that in January 2020, …

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EFL Chairman takes stance against betting sponsorship ban

Chairman of the English Football League (EFL), Rick Parry, has spoken out against a ban on sports betting sponsorship arrangements, citing financial concerns for lower league teams. Speaking to the Financial Times (FT), Parry remarked that a betting sponsorship ban would be ‘catastrophic’ for smaller football clubs ‘in the wake of the pandemic’. Parry’s comments come two months after it …

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UKGC comes under fire from Football Index collapse

Pressure is mounting on the UK Gambling Commission (UKGC) to explain the fallout of Football Index – the football player trading platform which entered insolvency proceedings last week citing that it could no longer maintain its business due to liquidity issues. John Whittingdale, DCMS’ new undersecretary overseeing UK gambling laws, is reported to have held ‘frank discussions’ with the Commission’s …

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Football Index suspends business as it enters administration

Football Index has this morning confirmed that it has entered administration, suspending all trades on its platform.  Issuing a player update, Football Index confirmed that the decision had been taken following consultations with the Gambling Commissions of the UK (UKGC) and Jersey (JGC).  Last weekend, Football Index was hit by a ‘customer exodus’, as traders withdrew accounts from its platform …

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Football Index dividends decision leads to investor exodus

Football player stock exchange, Football Index has prompted an investor exodus after making the decision to reduce dividends paid for each player transaction, leading to a significant drop in asset value (player price) and returns (player value) for its customers.   Some users have reportedly lost tens and in some cases hundreds of thousands, with one bettor allegedly losing £250,000. To …

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Football Index donates Nottingham Forest and QPR shirt sponsorships to YGAM

Football Index donates Nottingham Forest and QPR shirt sponsorships to YGAM

Football Index has donated its shirt sponsorship for Nottingham Forest and Queens Park Rangers to the Young Gamers and Gamblers Education Trust (YGAM). Marking Safer Gambling Week, QPR will wear a special edition shirt for their London derby against Watford on 21 November, while Nottingham Forest will be sporting the shirts for their game against Bournemouth on 24 November. The …

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QPR names Football Index as new shirt sponsor

Gambling platform Football Index has been named as Queens Park Rangers Football Club’s latest front-of-shirt sponsor for the upcoming EFL Championship season. The agreement, which is initially a one-year deal with the option to extend, sees the ‘Football Stock Market’ displayed on QPR’s home and away kits for the 2020/21 season. Neil Kelly, Chief Executive Officer of BetIndex Ltd, Football …

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Football Index selects beBettor to lead customer affordability demands

Football Index has strengthened its responsible gaming frameworks and customer affordability checks by partnering with the beBettor platform.  The online stock market for professional football will utilise beBettor’s ‘geo-affordability data’ solution to verify its new and existing players on customer affordability checks, safeguarding its business against gambling-related harms.  Updating stakeholders, Football Index stated that it has selected beBettor as its …

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