Football Index is an online betting platform that styles itself as a ‘stock market’ where ‘shares’ in players are traded. It is regulated by the UK Gambling Commission, the company aimed to sell shares in professional footballers to users, for the counterpart of dividends.T
The idea was to invite users to choose a football player with high performance and but shares in them while still affordable and bet on high profit afterward once the career of the player chosen rises.
The firm has suspended suddenly their operations leaving behind a scandal, mainly concerning a group of MPs extremely touched by this change, they confirm that it is a scandal and would like to take this higher to court.
The sudden suspended activity of Football Index could cause what has calculated a £90m loss for total gamblers, under the cause of a new restructuring of their business model which will ensure ‘the long-term sustainability, affirms the company.
The significant financial scandal around Football Index led the company to cut dividends on players, who decided to call for action against Football Index and the Gambling Company, a group of gamblers contacted a well-known media platform and provided reports proving the matter.