EPL Football Index collapsed

eaststandboy

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The imaginary footballer share platform has collapsed, with customers losing over £90million!

Could never understand how this works.

 

unification

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There’s a bit more about it in this from the week.


The bit that struck me was the part at the end.

‘Football Index is a betting firm, regulated by the Gambling Commission. But its website and business model mirrored a market-making platform for derivatives trading, and one of many questions that will need to be answered if or when the platform folds is why the Gambling Commission, and not the Financial Conduct Authority, was the regulator responsible for overseeing its operation.’

Could be a bigger fall out than a few people losing money because they ‘invested’ in Kylian Mbappe. There will have to be laws made to stop this sort of thing happening again.
 

Paul Cannell

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The bit that struck me was the part at the end.
One of many questions that will need to be answered if or when the platform folds is why the Gambling Commission, and not the Financial Conduct Authority, was the regulator responsible for overseeing its operation.’

Neither of these supine old-boy networks will do anything worthwhile about this, although it may take 7 (seven) years. By which time the perpetrators will be dead or in different board level positions.

Just another financial scam. Free market, liberalisation etc. Suck it up losers.
 

RyanioBirdio

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Some critics argue Football Index was akin to a Ponzi scheme. "To pay out dividends, it required more customers to deposit money. When that dried up, the problems started", said Matt Zarb-Cousin, of the Campaign for Fairer Gambling and a former gambling addict.

"Football Index is an unsustainable business model. They created a stock market out of assets they themselves created. The football players on the market had no underlying value," he said.


Ding ding ding ding ding ding ding dinggggg!

How anybody else in the article has the balls to claim it wasn’t a form of Ponzi scheme is pretty mad. Presumably they’re just thick, or are too embarrassed to admit they got scammed. Possibly both.

“No, it isn’t a Ponzi scheme, they just changed the rules completely out of nowhere right before it all collapsed. Nobody could’ve seen it coming, it was just bad luck and stuff.”

I bet they’re the kind of people who think strippers really like their personalities.
 

Essexyellows

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Well some lucky soul has probably spirited away a good chunk of the £100 million so its strippers, champagne and the devils dandruff all the way !! :D :D :D

Notice how young, naïve and dare I say stupid the "victims" are.
Ben, 22, £6500 down the pipe.
Jack, 24, £7000 down the pipe.
Unnamed- been playing since they were 18 £20000 down the pipe.

Fools and their money.....
 

MC Yellow

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Well some lucky soul has probably spirited away a good chunk of the £100 million so its strippers, champagne and the devils dandruff all the way !! :D :D :D

Notice how young, naïve and dare I say stupid the "victims" are.
Ben, 22, £6500 down the pipe.
Jack, 24, £7000 down the pipe.
Unnamed- been playing since they were 18 £20000 down the pipe.

Fools and their money.....

You just cant help some people.

More than happy to reap the profits but go crying to mummy when the lot vanishes like a fart in the wind.

Know the risks, only bet/invest what you can afford to lose and do some decent bloody research.
 

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