The Football Index platform saw payments and withdrawals to customers amounting to almost £200m during its six years of operation. … Therefore, the company did not need to rely on new customers to meet its obligations, which is why it was not a Ponzi scheme.
In regards to, is the Football Index legit? Shortly after Football Index was forced offline by the latest of several crashes in its market in the months leading up to its failure, it emerged the Gambling Commission had been warned in January 2020 that the site was “an exceptionally dangerous pyramid scheme under the guise of a football stock market”.
Likewise, 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.
Moreover, will I get money back from Football Index? Football Index has said it will directly contact any customers who require any additional information to withdraw funds. Withdrawals will only be possible via the operator’s website, as it has suspended its mobile apps.
Beside the above, 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.
How do you withdraw from Football Index?
Please login to your Football Index Account via the website and go to the Account area, where you can select to withdraw funds.
Is Football Index a good investment?
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.
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.
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.
How do you trade in football?
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.
How do you sell shares on Football Index?
This can be done by: (i) clicking the Sell Price displayed on screen; (ii) clicking ‘Add Offer’; (iii) selecting the number of shares you want to offer, at what price and ‘Place Offer’ or ‘Place Max Offer’ which will autopopulate the number of shares to be the full quantity or 300 shares, whichever is smaller; and (iv) …
Who ran Football Index?
A document seen by The Athletic reveals an eight-figure sum moved from BetIndex, the Jersey-based company which ran Football Index, to its holding company Index Labs as part of “Project Hadron”.
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.
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