Football Index Review

Footballindex.co.uk
 
Year established: 2015

Mobile compatible: Yes

Jurisdiction: United Kingdom

Overall rating: C-

Recommended: For recreational and professional players (Stockmarket Game)
 
Football Index Review

BetIndex Ltd have launched the world’s first football stock market, Football INDEX, where traders can buy and sell shares in professional footballers with real money.

The UK licensed gambling platform provides customers with an exciting alternative to the traditional and overly crowded sports betting markets. The first of its kind, Football INDEX is revolutionary in offering customers a chance to bet on the future success of football players, rather than gambling on the short-lived outcome of football matches.

The platform operates with all the characteristics of a stock market, with traders buying units of footballers (known as ‘Futures’), building their football portfolios and trying to sell at a profit.

As well as trading footballers for profit, customers have the chance of multiple ‘wins’ from a single bet. Football INDEX’s daily Buzz Chart is UK media monitor determines the trending footballer in the news each day. Any traders holding futures in the trending footballer will receive a dividend payout per future held.

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. BetIndex seeks to challenge the conventional ‘event’ based outcomes in traditional gambling products e.g. a horse crossing the finishing line, ball in the back of a net, numbers drawn from a hat.

Next is a list of popular questions with answers to them:

What exactly is the Football INDEX?

Football INDEX is a stockmarket game where players, known as Traders, take a position on the “future success” of footballers with real money. It’s a UK licensed and regulated fixed-odds gambling product.

Traders place bets by buying ‘Shares’ associated with Footballers, in the belief that they will:

a) Earn Dividends by topping the “Media Rankings” and “Match Day Rankings”

b) Increase in value

The bet is innovative in that it provides multiple opportunities to win small payouts known as Dividends. The top ranking footballers in the “Media Rankings” and “Match Day Rankings” will be eligible for payment of a Dividend, depending on the amount of, and the prestige level of, the football matches taking place on that day. Dividends are paid out according to the “Dividend Table”. We may pay additional Dividends for promotional reasons, and review and update the Dividend Table.

The price of a Share is determined purely by demand within the game. The more Traders buy say Cristiano Ronaldo or Lionel Messi, the higher the price.

How do I Play?

Register and deposit a minimum of £10 to get started.

Football Index is a betting platform on which you can place a Bet(which we call a ‘Share’) with us in exchange for the chance to win a daily payout (which we call a ‘Dividend’).You may buy up to a maximum of 100 Shares for each footballer at the Published Price in a single transaction, providing you have sufficient funds in your Account. The maximum number of Shares you can buy per single transaction may change from time to time. In certain circumstances, we reserve the right to suspend the ability to buy shares, temporarily or otherwise for a specific footballer or all footballers.As the Bet is a fixed odds bet, we publish the price of each footballer that reflects the levels of demand for buying or selling each footballer(“Published Price”).Your Shares are displayed in a section of your account known as “Portfolio”. This will always display the number of Shares you hold. A time-stamped record of the Bets placed are held in the ‘Transaction History’ of your Account(each Bet transaction may be archived after 3 months from the date of placing the Bet).

How Do I Win or Profit on Football INDEX?

Football INDEX is highly innovative real money gambling game that effectively creates a market in the world’s top footballers. It’s also unusual in that there are two different ways to win:

1.By buying a portfolio of Footballers that you think will earn you Dividends over a period through the “Media Rankings” or “Match Day Rankings”.

2.By buying a portfolio of Footballers that you think will increase in value, as a result of increased demand, enabling you to cash out your bets at a profit – buy low, sell high!

Who Loses Money on Football INDEX?

Unlike spread betting you can never lose more than your stake, and for you to lose all of your stake your Shares would have to be of no value in the market, and for you not to receive any Dividend payouts on them.

A Share lasts for three (3) years from the date you place the Bet (the “Share Period”).

Upon the expiry of the Share Period, the Bet will expire – meaning that you will lose your stake and the right to participate in any Dividend. In advance of the expiry of the Share Period, it is open to you to take steps to sell the Share via the Website and/or the App and buy new Shares in the same footballer. This will result in ‘resetting’ the Share Period associated with the new Shares in that footballer.

How Is A Player’s Position Determined

Sometimes there is ambiguity about how some footballers are categories on Football INDEX.

We use a third-party data provider to categorise players. We use the season position supplied with their squad feed, which might change multiple times during a season or even a match.

As a policy, we do not manually edit or override player positions and changes made will only reflect once the third-party data provider has done the update on their end.

Note: We do not receive notification of upcoming changes.

The Top 200 and Squad Players

In the app and website, footballers are listed in the “Top 200”and a list of “Squad Players”. In the Top 200 list, the highest priced 200 footballers from the previous day are available to trade.

Footballers are promoted and relegated from the Top 200 at midnight each day, and remain in that list until midnight the following day. Footballers in the “Squad Players” list can be traded and are eligible to win Match Day Dividends. Football Index will introduce up to 50 footballers per day at a price of their discretion. The addition of a new footballer is referred to as an IPO (Initial Public Offering).

How is the Price of a Football Future Determined?

The Price of a particular Future/Share is determined by the number of other Futures/Shares in that Footballer in existence – i.e. the number of bets we have issued in that Footballer. There are no external factors such as the Buzz score that affect the price, it is purely driven by demand within the game.

The relationship of price to volume of Futures/Shares is derived from our proprietary pricing algorithm, which states that if we issue another 100 Futures the price will go up to ‘x’.

The same is true if demand for Ronaldo drops, if say he breaks his leg and a lot of people want to sell. The price will then reduce incrementally as more sales are requested, with no buyers.

Sale requests are taken in strict chronological order – so if you’re the first to hear the news of Ronaldo’s accident and press ‘sell’ then yours will be the first to be ‘sold’. However, a lot of other people may also wish to sell, depressing the price that you ultimately receive.

You may set a reserve price below which you do not wish to sell, and you may cancel your sale at any time by clicking ‘cancel’ button in your portfolio.

In certain instances, we may act as ‘market makers’ to create liquidity in the market. This means that we will buy back Futures/Shares that are ‘for sale’ before there is a buyer for them, and hold them until such time as there is. In this instance we sell them on at exactly the price that we bought them with no spread – so we guarantee to never profit from sales by more than the 2% transaction fee charged.

What is a ‘Dividend’?

The top ranking footballers in the “Media Rankings” and “Match Day Rankings” will be eligible for payment of a Dividend, depending on the amount of, and the prestige level of, the football matches taking place on that day. Dividends are paid out according to the “Dividend Table. We may pay additional Dividends for promotional reasons, and review and update the Dividend Table.

If you buy a Share prior to the Dividend Deadline, and that Share is ranked in one of the categories in the Dividend Table that Share will be eligible for a Dividend. The Dividend Deadline is midnight (12:00 am London time) of the previous day (i.e. a Share is only eligible for a Dividend after you have owned that Share for 24 hours). Note: Dividends are paid between 12:00 am & 03:00 am London time.

We may postpone or change the Dividend Deadline for promotional reasons before or during football fixtures to allow users to buy Shares which may be eligible for Dividends. We will keep you informed of any changes to the Dividend Deadline either by email, via the Website and/or on the App.

How Do I Buy Shares?

Football Index is a betting platform on which you can place a Bet (which we call a ‘Share’) with us in exchange for the chance to win a daily payout (which we call a ‘Dividend’).

You may buy up to a maximum of 100 Shares for each footballer at the Published Price in a single transaction, providing you have sufficient funds in your Account. The maximum number of Shares you can buy per single transaction may change from time to time.

As the Bet is a fixed odds bet, we publish the price of each footballer that reflects the levels of demand for buying or selling each footballer (“Published Price”).

How Do I Sell Shares?

Go to your Portfolio and click the SELL button.

You may be able to cash out your Bet early (for either more than you paid for the Bet or for less) by clicking ‘Sell’ on the Shares you hold in your Portfolio (up to a maximum of 100 Shares per transaction). You are able to sell your Shares in two (2) ways (both of which we take a 2% commission fee and a minimum of 1p from each completed sale transaction):

1. Go To Market

You are able to cash out your Bet by clicking ‘Go to Market’ on the Shares you want to place in a queue for other users to buy (“Sell Order”). We cash out the Bet subject to finding another user who will ‘buy’ your Sell Order. We cannot guarantee a price. Your Shares will be sold at the Published Price at which the Sell Order was completed rather than when the Sell Order was placed. However, you may set a lowest price at which you accept another user to buy your Sell Order (“Reserve Price”) and may cancel your Sell Order at any time. If the price of any Share drops below your Reserve Price, we run a process that regularly checks and attempts to cancel your Sell Orders as soon as feasibly possible.

2. Instant Sell

We publish a sell price at which you may cash out your Bet early by clicking ‘Instant Sell’ on the Shares you want to sell instantly. When you confirm your ‘Instant Sell’, you cash out the Bet and we deposit the monies into your Football INDEX Account instantly. The difference between the ‘Buy’ price and the ‘Sell’ price is the “Spread”. The Instant Sell price will be the lower end of the Spread. The Spread may vary, especially in relation to Share prices that are experiencing high levels of volatility. In certain circumstances, we reserve the right to suspend Instant Sell, temporarily or otherwise for a specific footballer or all footballers.

How Long Will it Take to Sell My Shares?

You are able to cash out your Bet by clicking ‘Go to Market’ on the Shares you want to place in a queue for other users to buy (“Sell Order”).

Just as on eBAY sales are not instant and dependant on another trader wishing to buy your shares. We cash out the Bet subject to finding another user who will ‘buy’ your Sell Order. We cannot guarantee a price. Your Shares will be sold at the Published Price at which the Sell Order was completed rather than when the Sell Order was placed. However, you may set a lowest price at which you accept another user to buy your Sell Order (“Reserve Price”) and may cancel your Sell Order at any time. If the price of any Share drops below your Reserve Price, we run a process that regularly checks and attempts to cancel your Sell Orders as soon as feasibly possible.

If you don’t want to wait you can always Instant Sell your futures / shares instead.

What is a ‘Tracker’?

A Tracker is a simple way to bulk-buy a large number of Footballers, spreading risk and tracking the performance of the 1st Team as a whole. Tracker packages enable Traders to buy just 1 x Future in either the top 25, 50 or 100 Footballers on the 1st Team List, but they can buy up to as many as 100 Futures in each Footballer in one click. Consequently a Trader might buy say 25 x Futures in all of the top 100 Footballers.

A Football INDEX Tracker is not like a stockmarket tracker would track the value of all companies in Footsie 100, which might change over time. In the instance of our Trackers the Footballers held won’t change, which is why we don’t offer a Tracker of the full 200 Footballers as those close to the bottom are at risk of relegation, rendering those Futures valueless.

We may offer a different style of Tracker in the future, however at least with our Trackers parts of them can be sold off, without selling the whole product giving Traders more flexibility.

What is the “Footie” Index?

“Footie” Index is the index number that represents the ‘market cap’ of all 200 footballers in 1st Team List at a point of time – being the sum of the current price of each footballer. Much like the FTSE 100 which was launched on 3 January 1984 and had a start value of 1,000.0, the “Footie” Index launched in October 2015 with a base value of 1,000 points.

What are the Football INDEX game rules?

‘Shares’ may be bought in any Footballers appearing under the ‘Top 200’ AND the Squad Player list at the Published Price. Traders may buy up to a maximum of 100 Futures at the Published Price in a single transaction, providing he/she has sufficient funds in their account.

The price of a Future is determined purely by demand within the game. The more Traders buy say Cristiano Ronaldo or Lionel Messi, the higher the price. Players can cash out their bet by clicking ‘sell’ on futures that are held in their portfolio. Football INDEX will cash out provisional on another Trader(s) ‘buying’ your bet, which is paid to you less a 2% transaction fee. We can’t guarantee a price, it will be the best we can achieve. You may set a reserve price and may cancel your cash out Sell Order at any time.

Payments:

Visa/Mastercard, Bank Transfer

*Keep in mind to double check information. Be prepared for changes to restricted countries, bonuses, currencies, deposit and payment options, languages, contact info.

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