(Bloomberg) -- The operator of Football Index, the soccer gambling website that calls itself a "virtual stock market," moved to protect itself from creditors prior to having its license suspended by the U.K. betting regulator following a backlash over a recent move to cut payouts to clients.Continue Reading. Because Bakambu had been in China, his Football Index share price was 0.33.Only players in the top five leagues in Europe can win performance dividends and so this was reflected in Bakambu's cheap price (at this time the market leader was Jadon Sancho, who was worth in the region of 7-8). Football Index Trader (or FIT for short) is a site designed to help traders maximise their gains on the "Football Stockmarket," Football Index. The exodus was sparked by a new policy that involved an 80% reduction in dividends paid for each player transaction made on the platform. hide. The world of Football Index has been thrown into disarray after the company decided to dramatically alter the way in . In some cases, participants 'invested' huge sums of money and . In some cases, participants 'invested' huge sums of money. In our last update we covered some of the key features of FIT including "Scouting," "State of the Market" and the live blogs. FanTeam. It's important that we leave the administrators alone now while they get on with the task at hand, so a bit more patience is required. . This month, a court ruling has offered some hope for customers still out of pocket. The Football Index business model was founded on the idea that they could mint "virtual shares" in footballers and then pay dividends on these shares based on players' performances and media attention. The report was led by Malcolm Sheehan QC.. Bethard. MORE than 300 Scots are plotting legal action over the collapse of online gambling firm Football Index. I just logged in and I see everyone has dropped significantly I had a lot of shares in alaba and James Rodriguez can anyone tell me what's happened. Football Index Trader - Update. Football Index was a gambling platform, regulated by the Gambling Commission. Five player portfolio gives you the chance to see Football Index in action. Football Index What Happened. In the past. This usually happened when something is going to change your bets, and in the past, it's largely been a good thing. Football Index is an online betting platform which styles itself as a 'stock market' where 'shares' in players are traded. Wildcard Tips. Difference 1: Sorare is not a gambling platform. BetIndex Ltd, the company behind Football Index, was forced to suspend its twitter feed following abuse from customers in light of the dividend cut. What happened with Football Index? Women's football has also taken a huge hit, with many leagues cancelled in 2020. The Football Stockmarket. However, he said he also received full repayment of a zero-interest loan he gave to the business, the size of which was not . Users would buy and sell "shares" in footballers just like someone might . So then last week, again nothing further until Football Index's customer service account tweeted at 6 pm on Friday that the market would be suspended at 6.30 pm until the following morning. The announcement means that Football Index have now suspended all trading and payment transactions for customers. In principle Football Index was a format that should have worked. 7. It was founded in 1986, but played its first official games in 1987 season making it the third longest-running professional football league in North America after the Canadian Football League (CFL) and the National Football League (NFL) until the AFL closed in 2019. Let's take a look at the latest developments and explore when customers may realistically [] Fantasy Football Grading the panic level fantasy owners should have for Lamar Jackson, Patrick Mahomes, and more. Football Index was a UK-licensed and regulated gambling product that allowed customers to gamble on both the future success of football players and the rules of the platform itself. Close. However, it made changes such as allowing instant sales that weren't relayed to the UKGC in the proper fashion. Bench Boost Tips . report. What Has Happened to Dividends & Share Prices. In the couple of weeks before Football Index called in administrators to run the business, Ben, aged 22, lost more than 4,000 in seven days, 1,400 of which disappeared in 24 hours. As a regulated platform, there were certain checks in place to supposedly stop people depositing more than they could afford, to . Fans have been left furious after losing thousands on gambling platform Football Index following widespread share price crashes after the announcement of extreme reductions in payments through . I use the word 'regulated' very loosely because we all know how that turned out. But, instead of stocks and shares, customers could buy and sell football players. Customers can no longer use the platform. On Thursday 16th May Football Index updated some of the player profiles which led to a lot of traders losing out and some lucky traders enhancing their portfolio. The betting platform went into administration in March. Image source: Getty Images Share this page: After the collapse of Football Index in March, many customers are wondering whether they will see their money again. Home. Customers purchased imaginary shares for the chance to win daily payouts calculated based on player performance on match days, and their presence in the platform's Media Rankings, which paid out on the top trending . Customers lost almost 90 million as the company collapsed. The Football Index Model - Fixed Dividends Based on Fluctuating Share Prices. Football Index Trader (Adam) has done a deep dive into what the process could look like so do have a read of that. The Arena Football League (AFL) was a professional arena football league in the United States. Investment platform Football Index collapsed into administration last week after slashing shares by more than 80%, triggering instant losses for tens of thousands of football fans. 18+ | https://t.co/UNgM3PBXxd Customer Support: @FootballIndexCS This means for the time being traders are unable to withdraw from the site. Football index makes money from taking a commission on the total sales you make. What happened to Football Index? The latest developments in the Football Index saga, with talk of market makers, liquidity buffers and index spreads, can seem baffling. Thousands of punters are feared to have lost up to 90million in total after the betting . . As of 4 April, the maximum amount customers could be paid out per share . That happened when BetIndex's gross gambling yield (GGY) exceeded 25 million for the first time. Football Index have medium deposit protection as laid out by the UKGC, which might offer some slight ray of hope to anyone currently waiting for news, but there are no guarantees . Football Index was a gambling site that allowed consumers to wager on the future performance of football players. Football Index, the site that operates as something of a football player stock exchange, is changing the way in which dividends are being paid, causing disarray for investors. In the weeks before, customers saw the money they had stored in the Football Index reduce significantly as players' "share prices" decreased. Doug Flutie has one last shot to beat defending champion Miami at the old Orange Bowl. This caused the value of every player to crash, so practically every customer lost money and many withdrew what money they had left, leading to Football Index's parent company to go into administration. Market sell allows you to set a reserve price and . Millions of pounds of customer money is tied up in the self-styled football stock market which allows 'traders' to buy . The report has found that the GB Gambling Commission (GC) initially unaware of changes to the type of product Football Index was offering, and then slow to take action before the platform's collapse and . Football Index was a company regulated as a gambling website but marketed itself as a "football stock market". Wtf happened!!! Learn. What happened with Football Index? 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. . Football Index is looking for a buyer. Football Index was a gambling platform that operated like a stock market; Traders would buy shares (place bets) on footballers with real money What Has Happened to Football Index? . Jadon Sancho was Football Index's most valuable share. 28th January 2021. The two ways to sell on Football index are called Market Sell and Instant Sell. Things started to go downhill on 5 March after Football Index announced a major change that slashed the value of dividends. Football Index is an online betting platform which styles itself as a 'stock market' where 'shares' in players are traded. Customers bought imaginary shares in the hopes of winning daily payouts based on player performance on match days and their position in the site's Media Rankings, which paid out on the top trending footballers each day. Cole - who stepped down as Football Index chief executive in December 2020 - then revealed that the amount he had received from all businesses in the BetIndex group was 236,692 over the six years since its launch. The difference between the buying price and the sale price is known as the spread. QPR dropped Football Index as their shirt sponsor after the company went into administration Football Index, an online betting company that bills itself as a "stock market" for football, has. Exactly. fpl. The 'stock market for footballers' announced a sharp fall in dividend payments on Friday much to the . Then the Traders using the . It was launched in 2015 offering "a. This led to a significant drop in asset . Football Index has entered administration and had its gambling licences suspended - what happened and what does it mean for customers? Read the latest Sport news, including Football, UFC, Boxing, Racing and more. (Getty) Football Index, the gambling platform that allows users to purchases 'shares' in footballers, has caused uproar with their announcement on Friday to slash dividends and has now suspended. Football Index, the shirt sponsor of Nottingham Forest and QPR, is a self-styled football stock market where users trade virtual shares in top players. Home. Sorare. Football Index: How does trading platform work, what has gone wrong and what happens next? Football Index has appointed administrators and had its gambling license. The findings were part of the independent report into the regulation of Football Index by the Department of Digital Culture, Media and Sport. Getting Started. The stricken soccer gambling platform could be facing a UK government inquiry as anger mounts among former customers who lost money when the Football Index . Four people came on to . "No amount of explanation of what happened to Football Index will take away the justifiable hurt . save. As mentioned before, my website and any articles by me or others on football platforms are on the back burner whilst I try my best to support Football Index users get redress (sincere apologies to L2k whose Sorare article I have postponed time and time again- thanks for your patience!We all have decisions to make, some have decided to move on swiftly and carry on elsewhere, others are really . Over time this should be a great insight into how the first football stock market works. share. 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. It is regulated by the UK Gambling Commission Launched in 2015 by. Football Index is a football trading game in which users buy and sell 'shares' in leading players and receive dividends based on performance.
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