Is Football Index a pyramid scheme?
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”.
Is Football Index any good?
Let me start by stating that Football Index is a completely legitimate website. If you aren't completely sure what Football Index is, it's a platform where you can buy and sell virtual shares in footballers. Football Index is still maturing as a product, but it's currently 4 years old as of December 2019.
How do I get my money back from the 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.
Who is behind Football Index?
Is Football Index regulated?
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.
What is BetIndex limited?
BetIndex Limited, is a privately owned Jersey based gambling operator established in 2015. Both the UK Gambling Commission and Jersey Gambling Commission have granted operator licenses to the company.
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.