[Football] Anyone tried Football Index?

CheeseRolls · Feb 3, 2020

I don't like the way this is working out.

I bought shares in Riqui Puig and Sander Berge, thinking both had a potential upside. A change of manager at Barcelona and all of a sudden Puig was back involved again. I promptly sold my shares for a small profit and bought more Sander Berge shares. About a week ago the Berge shares also started moving and I was sitting on a tidy paper profit. The only thing is that whilst the buy price reached £1.62, the sell price never shifted and still hasn't and now the buy price is drifting downwards.

There are a number of inaccuracies on the platform, little or no communication IPOs for new players coming onto the platform, are hard to follow or fathom, arbitrary changes in policy and you can only hold a share for a maximum of three years after which it has no value. I am going to look for a good opportunity to sell and then get out.

Frankie · Feb 3, 2020

Frankie said:
My Dunk Shares have alarmingly shot up in value in the last few hours!

Everything's back to normal now and he's -2

zeemeeuw · Feb 3, 2020

If anyone uses TopCashBack, I signed up to Football Index through this, offer was spend £10 @ Football Index and get £20 Cash Back.

Worked for me, I signed up and bought a tenners worth of Brighton players, Cashback of £20 banked about 4 weeks later. Then sold my shares (lost about 4p after costs), Leaving me £19.96 profit.

Still doing offers on TopCashBack for this but not quite so generous, Wager £10 get £12.12 Cash Back or Wager £20 get £22.22 Cash back.

Gazwag · Feb 3, 2020

zeemeeuw said:
If anyone uses TopCashBack, I signed up to Football Index through this, offer was spend £10 @ Football Index and get £20 Cash Back.

Worked for me, I signed up and bought a tenners worth of Brighton players, Cashback of £20 banked about 4 weeks later. Then sold my shares (lost about 4p after costs), Leaving me £19.96 profit.

Still doing offers on TopCashBack for this but not quite so generous, Wager £10 get £12.12 Cash Back or Wager £20 get £22.22 Cash back.

Top cashback is great I managed to accumulate about £300 which I converted into £330 or something with M&S vouchers. I was doing casino NCO's offers sometimes making a bit sometimes losing a bit but making money from the cashbacks. Offers are not quite as good at the moment though

Arthur · Mar 8, 2021

Hope those of you that were having positive opinions on FI took their money and ran.

Spreads have been getting worse and worse for the last couple of years. Founder jumped ship last year creating a bit of noise when he did. Over the weekend they closed the market and wiped a load of value of it and changed the dividend rules.

Most people, myself included are now sitting on worthless portfolios. Thankfully I never really got the buzz of it so only a few hundred invested but plenty of people had hundreds of thousands on the market and have just seen it disappear overnight.

Tim Over Whelmed · Mar 8, 2021

Arthur said:
Hope those of you that were having positive opinions on FI took their money and ran.

Spreads have been getting worse and worse for the last couple of years. Founder jumped ship last year creating a bit of noise when he did. Over the weekend they closed the market and wiped a load of value of it and changed the dividend rules.

Most people, myself included are now sitting on worthless portfolios. Thankfully I never really got the buzz of it so only a few hundred invested but plenty of people had hundreds of thousands on the market and have just seen it disappear overnight.

Poo, only just seen this and have a few quid in this!

Seagull58 · Mar 8, 2021

Arthur said:
Hope those of you that were having positive opinions on FI took their money and ran.

Spreads have been getting worse and worse for the last couple of years. Founder jumped ship last year creating a bit of noise when he did. Over the weekend they closed the market and wiped a load of value of it and changed the dividend rules.

Most people, myself included are now sitting on worthless portfolios. Thankfully I never really got the buzz of it so only a few hundred invested but plenty of people had hundreds of thousands on the market and have just seen it disappear overnight.

Interesting. I read an article online a few weeks ago saying it was a complete and utter bubble with no underlying value and would inevitably burst and leave everybody with worthless portfolios.

Mellotron · Mar 8, 2021

Arthur said:
Hope those of you that were having positive opinions on FI took their money and ran.

Spreads have been getting worse and worse for the last couple of years. Founder jumped ship last year creating a bit of noise when he did. Over the weekend they closed the market and wiped a load of value of it and changed the dividend rules.

Most people, myself included are now sitting on worthless portfolios. Thankfully I never really got the buzz of it so only a few hundred invested but plenty of people had hundreds of thousands on the market and have just seen it disappear overnight.

Luckily I only put a small amount in. Bit annoying though, a number of times I tried to take my money out previously and the app was ludicrously unhelpful - gave up, and now it's worthless.

Link to contact support didn't work either.

Very poor form.

CheeseRolls · Mar 8, 2021

Got out when I said I would, around a year ago.I made a miniscule profit and it just felt like a waste of time.

Someone could have made a nice living from running this and associated services. Instead it looks like another get rich quick scheme, hope no one here got too badly burnt.

Iggle Piggle · Mar 8, 2021

Never invested a penny - Couldn't get my head around how everyone seemed to be making money which as the saying go "if it's too good to be true it probably is" 2 unrelated points :

1. The most I've seen is someone on Twitter who had 65K in there. Shit the bed.
2. The Gambling commission has been warned by people in the industry that it was basically a Ponzi scheme. They ignored it. It's stuff like this which gives the industry a bad name.

In laymans terms, it is like the Stock market wiping 80% of the value off everything so no matter what portfolio you have, you will be down.

Arthur · Mar 8, 2021

Seagull58 said:
Interesting. I read an article online a few weeks ago saying it was a complete and utter bubble with no underlying value and would inevitably burst and leave everybody with worthless portfolios.

Well its a game at the end of the day and sadly those that made up the rules for it decided to change those rules (which I'm sure they are perfectly entitled to do as per their T&Cs) leaving their customers with bugger all.

Post launch it was quite easy to play and make money. Now its impossible to know how well you are doing as they paint a very rosy picture on your portfolio screen (I have one player in the red on mine) but the reality is very different in real money terms. They've obviously done their nuts and are trying to save the business but they've now alienated their entire existing customer base.

Arthur · Mar 8, 2021

Iggle Piggle said:
Never invested a penny - Couldn't get my head around how everyone seemed to be making money which as the saying go "if it's too good to be true it probably is"

Absolutely, sadly lots didn't see it that way.

Iggle Piggle said:
1. The most I've seen is someone on Twitter who had 65K in there. Shit the bed.

Seen a few guys with £100k invested. One of them was 78% down in 24 hours and that was FI numbers so probably more like 95%.

Iggle Piggle said:
In laymans terms, it is like the Stock market wiping 80% of the value off everything so no matter what portfolio you have, you will be down.

Best layman's explanation I saw on twitter was this

[tweet]1368318044704026628[/tweet]

Seagull58 · Mar 8, 2021

Arthur said:
Well its a game at the end of the day and sadly those that made up the rules for it decided to change those rules (which I'm sure they are perfectly entitled to do as per their T&Cs) leaving their customers with bugger all.

Post launch it was quite easy to play and make money. Now its impossible to know how well you are doing as they paint a very rosy picture on your portfolio screen (I have one player in the red on mine) but the reality is very different in real money terms. They've obviously done their nuts and are trying to save the business but they've now alienated their entire existing customer base.

It's a Ponzi scheme.

Seagull58 · Mar 10, 2021

I received this email today:

Guys

As you may remember I sent you all a mail in January warning you of the significant dangers of putting any significant money in perceived value gambling products.

https://caanberry.com/is-football-index-a-ponzi-scheme/

Hopefully you did, as Football Index came massively crashing down this weekend as a result of the company being in financial trouble and cutting payouts and we believe the end very is near for them. For those that are exposed to this, I hope that you weren’t too affected by this, please don’t blame yourselves as a lot of people have been sucked in by this travesty. Please make sure you talk to somebody about this and don’t let it get you down.

I have today published an open complaint that I have sent to the gambling commission on Caan Berrys blog which explains in more detail what has happened, and the complete failings of the Gambling Commission in licensing what I believe to be a pyramid scheme as its clear the regulator does not understand the products it licenses and this company and a few others in this space should never have been given licensed.

https://caanberry.com/football-index-open-complaint/

I would kindly ask that every one of you share this complaint far and wide on every social media channel possible to get the message out there and force the gambling commission to pull it’s finger out of its backside and take action before any more are sucked into this travesty.

Many Thanks

Paul ( AKA The Geek )

Arthur · Mar 10, 2021

Seagull58 said:
I received this email today:

Guys

As you may remember I sent you all a mail in January warning you of the significant dangers of putting any significant money in perceived value gambling products.

https://caanberry.com/is-football-index-a-ponzi-scheme/

Hopefully you did, as Football Index came massively crashing down this weekend as a result of the company being in financial trouble and cutting payouts and we believe the end very is near for them. For those that are exposed to this, I hope that you weren’t too affected by this, please don’t blame yourselves as a lot of people have been sucked in by this travesty. Please make sure you talk to somebody about this and don’t let it get you down.

I have today published an open complaint that I have sent to the gambling commission on Caan Berrys blog which explains in more detail what has happened, and the complete failings of the Gambling Commission in licensing what I believe to be a pyramid scheme as its clear the regulator does not understand the products it licenses and this company and a few others in this space should never have been given licensed.

https://caanberry.com/football-index-open-complaint/

I would kindly ask that every one of you share this complaint far and wide on every social media channel possible to get the message out there and force the gambling commission to pull it’s finger out of its backside and take action before any more are sucked into this travesty.

Many Thanks

Paul ( AKA The Geek )

Wow. Whilst I don't disagree with much in his complaint letter looking at the rest of his site and what he does an expression spring to mind.....

Don't bite the hand that feeds.

Seagull58 · Mar 10, 2021

Arthur said:
Wow. Whilst I don't disagree with much in his complaint letter looking at the rest of his site and what he does an expression spring to mind.....

Don't bite the hand that feeds.

Geek's Toy is an automation tool for Betfair betting and trading, whilst Caan Berry offers Betfair trading advice and strategies. I don't think either of them would be impacted by whatever happens to Football Index.

Arthur · Mar 10, 2021

Seagull58 said:
Geek's Toy is an automation tool for Betfair betting and trading, whilst Caan Berry offers Betfair trading advice and strategies. I don't think either of them would be impacted by whatever happens to Football Index.

Well yes, my comment was based on his closing gambit

Gambling companies cannot be trusted, period! They are leeches that only care about 2 things, money and bad publicity. If they are left to their own devices they will bleed you dry by any means possible, and that includes Betfair who allowed a customer of mine who spent a mere few hundred pounds a few years ago to lose £50,000 on their Sportsbook in a mere 9 month period last year!

Firstly the guy makes his living out the industry!! I appreciate exchanges are slightly different as the house always wins. But I'm sure he'd be very pissed off if the house took his ability to use their platform away because he was publicly bad mouthing their sister product.

Secondly it doesn't say a lot about his product/methods if he's got customers who have lost £50k.

Seagull58 · Mar 10, 2021

Arthur said:
Well yes, my comment was based on his closing gambit

Firstly the guy makes his living out the industry!! I appreciate exchanges are slightly different as the house always wins. But I'm sure he'd be very pissed off if the house took his ability to use their platform away because he was publicly bad mouthing their sister product.

Secondly it doesn't say a lot about his product/methods if he's got customers who have lost £50k.

For clarity, Geek's Toy is simply a front end tool that allows you to speed up and partially automate the transactions you put through the Betfair exchange. For example it enables you to monitor the odds of several matches simultaneously and then rapidly place in-play bets or trades when goals are scored or when the odds reach your target price. He doesn't provide any tipping service or betting strategies. He may have customers making tens of thousands a month or losing the same. His issue is with the Gambling Commission being not fit for purpose and allowing betting companies to legally rob mug punters. My personal experience over the past couple of years is that the gambling commission has little understanding how unscrupulous the bookies are, and the regulations they are pushing on them, which to a large extent are aimed at stopping money launderers more than gambling addicts, are enabling the bookies to restrict and block profitable gamblers whilst having only a minor impact on their abuse of addicted, losing punters.

Arthur · Mar 10, 2021

Seagull58 said:
For clarity, Geek's Toy is simply a front end tool that allows you to speed up and partially automate the transactions you put through the Betfair exchange. For example it enables you to monitor the odds of several matches simultaneously and then rapidly place in-play bets or trades when goals are scored or when the odds reach your target price. He doesn't provide any tipping service or betting strategies. He may have customers making tens of thousands a month or losing the same.

I get that, but it's not something I'd be shouting about. Likewise I wouldn't be slating an industry that puts a roof over my head and food on the table. But that is on him.

Seagull58 said:
His issue is with the Gambling Commission being not fit for purpose and allowing betting companies to legally rob mug punters. My personal experience over the past couple of years is that the gambling commission has little understanding how unscrupulous the bookies are, and the regulations they are pushing on them, which to a large extent are aimed at stopping money launderers more than gambling addicts, are enabling the bookies to restrict and block profitable gamblers whilst having only a minor impact on their abuse of addicted, losing punters.

I can't speak from the GC perspective but I can from an operators point of view which obviously have their guidelines passed down from the GC. You are/were right about the AML teams when I first started in the industry, very little was being done on the responsible gaming side it was mainly all about money laundering.

That has changed massively over the last 5 years and continues to (I assume, I've not been involved with a UK operator for 6 months). The fines the GC have been giving to operators has made them sit up and notice. People will still argue it's not enough but that is always going to be the case. But don't think companies don't give a **** about RG as I can assure you that simply isn't true. Of course it's hypocritical as they probably spend 10x more on marketing but they are selling a product at the end of the day and 99% of their customers know how to use said product sensibly.

As for them blocking successful punters well that has been going on since time began and long before the internet let alone the explosion of online gambling.

Seagull58 · Mar 10, 2021

Arthur said:
I get that, but it's not something I'd be shouting about. Likewise I wouldn't be slating an industry that puts a roof over my head and food on the table. But that is on him.

I can't speak from the GC perspective but I can from an operators point of view which obviously have their guidelines passed down from the GC. You are/were right about the AML teams when I first started in the industry, very little was being done on the responsible gaming side it was mainly all about money laundering.

That has changed massively over the last 5 years and continues to (I assume, I've not been involved with a UK operator for 6 months). The fines the GC have been giving to operators has made them sit up and notice. People will still argue it's not enough but that is always going to be the case. But don't think companies don't give a **** about RG as I can assure you that simply isn't true. Of course it's hypocritical as they probably spend 10x more on marketing but they are selling a product at the end of the day and 99% of their customers know how to use said product sensibly.

As for them blocking successful punters well that has been going on since time began and long before the internet let alone the explosion of online gambling.

Of course, you're right about the blocking of successful gamblers having gone on for ever but what they are now able to do under, particularly, the source of funds requirement is to demand unredacted bank statements for several consecutive months and see ALL your deposits and withdrawals, not just those to and from one bookie. So, they are now able to spot punters who are using multiple bookies (and casinos in my case) and can determine how much money you are transacting in totality. In my case it has resulted in me being banned or heavily restricted to such an extent that I am pretty much stuck with only the Betfair and Smarkets betting exchanges.

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[Football] Anyone tried Football Index?

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