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Hub AI
Football Index AI simulator
(@Football Index_simulator)
Hub AI
Football Index AI simulator
(@Football Index_simulator)
Football Index
Football Index was a Jersey-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. 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 footballers each day.
The company entered administration in March 2021 and is currently suspended without a gambling licence.
Founder Adam Cole started Electric Video, which dealt with pre-recorded video and DVD which was later sold to Richard Desmond. He also founded MyVillage network, a website that lists local restaurants, bars and services in the UK.
BetIndex Ltd launched Football Index in October 2015 as a platform to gamble on football players. The stock exchange cap called 'The Footie' started with the launch of the platform on 2 October 2015 with a base value of 1,000 points. As of 3 April 2020, The Footie had grown to 159,207. Trader portfolios ranged from £10 to over £1,000,000, and 2% was charged as commission on sales. In January 2018, Football Index reached 100k users, and surpassed half a million traders in late 2019.
The company was owned by Index Labs, formerly Fame Ventures, who held the software license for Football Index.
During the 2018/2019 football season, over £321 million was traded on the platform, and over £4.3 million was paid out to traders through dividends.[citation needed]
In 2020, Football Index finalised a partnership with Nasdaq, to use Nasdaq's technology to power an order books system.[citation needed] In January 2021, Mike Bohan was appointed as the CEO.
Changes were announced in March 2021 including the issue of new shares and the reduction of the "dividend" payout from a maximum of 33p per share to 6p per share. This reduced the value of all open bets, that were purchased at prices based on the higher payouts. This resulted in huge uproar from users who saw their portfolio valuation drop from 50% – 90%.
Football Index
Football Index was a Jersey-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. 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 footballers each day.
The company entered administration in March 2021 and is currently suspended without a gambling licence.
Founder Adam Cole started Electric Video, which dealt with pre-recorded video and DVD which was later sold to Richard Desmond. He also founded MyVillage network, a website that lists local restaurants, bars and services in the UK.
BetIndex Ltd launched Football Index in October 2015 as a platform to gamble on football players. The stock exchange cap called 'The Footie' started with the launch of the platform on 2 October 2015 with a base value of 1,000 points. As of 3 April 2020, The Footie had grown to 159,207. Trader portfolios ranged from £10 to over £1,000,000, and 2% was charged as commission on sales. In January 2018, Football Index reached 100k users, and surpassed half a million traders in late 2019.
The company was owned by Index Labs, formerly Fame Ventures, who held the software license for Football Index.
During the 2018/2019 football season, over £321 million was traded on the platform, and over £4.3 million was paid out to traders through dividends.[citation needed]
In 2020, Football Index finalised a partnership with Nasdaq, to use Nasdaq's technology to power an order books system.[citation needed] In January 2021, Mike Bohan was appointed as the CEO.
Changes were announced in March 2021 including the issue of new shares and the reduction of the "dividend" payout from a maximum of 33p per share to 6p per share. This reduced the value of all open bets, that were purchased at prices based on the higher payouts. This resulted in huge uproar from users who saw their portfolio valuation drop from 50% – 90%.
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