Football Index
I recently spotted that the company was crowdfunded and the business model was known since it was founded it appears: -
https://www.seedrs.com/football-index
Very clearly laid out.
https://www.seedrs.com/football-index
Very clearly laid out.
Massive implications for the uk gambling commission here. Looks like they are up the creek without a paddle. This document was presented to UKGC in Jan 2020 and yet they did nothing even though they were told it was a pyrimid scheme.
Not sure really that they can be considered fit for purpose assuming that is their purpose to protect customers maybe it isnt.
Need to read the attachments from the bottom up in each seperate post for the correct order
Not sure really that they can be considered fit for purpose assuming that is their purpose to protect customers maybe it isnt.
Need to read the attachments from the bottom up in each seperate post for the correct order
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Last edited by trader4 on Wed Mar 24, 2021 12:52 am, edited 3 times in total.
pages 7 8 9
interested to know peoples thoughts. I wasnt a customer of football index but have followed the story closely because i think it has implications for the whole gambling sector. Whoever wrote that document deserves a medal. He/She was absolutely on the ball.
interested to know peoples thoughts. I wasnt a customer of football index but have followed the story closely because i think it has implications for the whole gambling sector. Whoever wrote that document deserves a medal. He/She was absolutely on the ball.
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Here is the appendix Sad and fairly brutal to read this. Most FI gamblers/investors were young people in their 20s they simply didnt have the life experience wisdom or nuances to understand the risk that they were taking.
Interesting to see the one bit of sanity in the middle of it all from Joseph Buchdaal. Think he has a masters degree in maths from cambridge and is a gifted writer about gambling.
Simple truth is 98% of FI users were making money that should have set the alarm bells off big time. I guess if people did make their money and then had the sense to get out before the crash then they would have done well. So there likely were some big winners aswell as big losers.
Interesting to see the one bit of sanity in the middle of it all from Joseph Buchdaal. Think he has a masters degree in maths from cambridge and is a gifted writer about gambling.
Simple truth is 98% of FI users were making money that should have set the alarm bells off big time. I guess if people did make their money and then had the sense to get out before the crash then they would have done well. So there likely were some big winners aswell as big losers.
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- wearthefoxhat
- Posts: 3221
- Joined: Sun Feb 18, 2018 9:55 am
At the bottom of the one of the pages....Can F.I. be sued alone for that?
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- jamesedwards
- Posts: 2323
- Joined: Wed Nov 21, 2018 6:16 pm
Difficult for the Gambling Commission to stop it once the whole thing had started becoming more difficult the bigger it grew. Imagine if they had pulled the plug in Jan 2020 there would have been uproar! Thousands of punters who were all making good money and believing in the Index suddenly having their investment wiped out by a governing body for no good reason (in their eyes).
Yes its a good point its difficult for the gambling commission to make that decision. But really so what if it is they still have to make it.jamesedwards wrote: ↑Wed Mar 24, 2021 1:55 pmDifficult for the Gambling Commission to stop it once the whole thing had started becoming more difficult the bigger it grew. Imagine if they had pulled the plug in Jan 2020 there would have been uproar! Thousands of punters who were all making good money and believing in the Index suddenly having their investment wiped out by a governing body for no good reason (in their eyes).
Similar to corona virus in some ways it was difficult for Boris to choose to lockdown before christmas but by being to spineless to do it things got much much worse. Gambling commission showed a lack of courage in my view. I dont think they had a lack of knowledge as to what was going to happen. They just sat back and abdicated resposibility.
Of course users and Football index themselves also have huge responsibility but the bulk of it lies with gambling commission in my opinion.
- jamesedwards
- Posts: 2323
- Joined: Wed Nov 21, 2018 6:16 pm
The GC very quickly stopped SportStack. Reading between the lines now should have seen why they did.