Football Index

[Montag]

Anyone remember which club was first to have a shirt sponsor? Not a thing I've ever liked.

[DroopStreetOldBoys]

Anyone remember which club was first to have a shirt sponsor? Not a thing I've ever liked.

https://footballpink.net/2018-10-22-a-b ... onsorship/

[Systemsguy]

More here, sure Ilias in the pic had nothing to do with it though

https://www.bbc.co.uk/news/business-56401707

Interesting that even financial commentators mention QPR above Forest
in being associated with Football Index, from a purely selfish to Rangers point of
view we still have a fairly high profile which is good.

Find it funny how a twice European Cup winner has fallen so far that a penny ante West London club gets all the glamour shots over the Football Index scandal

[Lee Gib]

More here, sure Ilias in the pic had nothing to do with it though

https://www.bbc.co.uk/news/business-56401707

Interesting that even financial commentators mention QPR above Forest
in being associated with Football Index, from a purely selfish to Rangers point of
view we still have a fairly high profile which is good.

I don't know about that. Perhaps the media just see the QPR brand as one more synonymous with financial irregularities.

[SM]

It’s a real shame, the concept of this business was superb.

No idea what’s led to them going into admin, but it was a good platform for football fans over the last few years.

Are you joking? It was a Ponzi scheme, pure and simple.

Did you ever use it or see any of the gains that some people made on it?

I can’t speak for the last few months, but for the years that it did run I saw plenty of people make a lot of money on it...

[UxbridgeR]

It’s a real shame, the concept of this business was superb.

No idea what’s led to them going into admin, but it was a good platform for football fans over the last few years.

Are you joking? It was a Ponzi scheme, pure and simple.

Did you ever use it or see any of the gains that some people made on it?

I can’t speak for the last few months, but for the years that it did run I saw plenty of people make a lot of money on it...

That's how Ponzi schemes work though. People make money at first as long as there are enough new punters buying into the idea. Others see that and want in, but sooner or later the money dries up and the wheels come off.

https://www.bbc.co.uk/news/business-56401707

[Stans left foot]

whatever the rights and wrongs of the offer / company, their presence on Talkshite was odious.

Positively Brown Nosing them every time they spoke / presented on the radio station, including some "serious /experienced" presenters, who in my opinion, should have known better.

[SM]

Are you joking? It was a Ponzi scheme, pure and simple.

Did you ever use it or see any of the gains that some people made on it?

I can’t speak for the last few months, but for the years that it did run I saw plenty of people make a lot of money on it...

That's how Ponzi schemes work though. People make money at first as long as there are enough new punters buying into the idea. Others see that and want in, but sooner or later the money dries up and the wheels come off.

https://www.bbc.co.uk/news/business-56401707

I’m not defending them, I think it’s disgusting what has happened to users on the platform.

But it was very successful for a number of years before it collapsed - it wasn’t a flash in the pan. The concept was very clever.

I think it was to do with a change in the way dividend payments were made, the users started rapidly pulling all of their money out, and they subsequently plummeted and went into administration.

I think it’s incredibly poor that they are now labelling it as gambling and that you win some and lose some though. I’ve seen people lose hundreds of thousands on it. Scary.

[Esox Lucius]

That is the text book definition of how a Ponzi scheme works Saf.

[SM]

That is the text book definition of how a Ponzi scheme works Saf.

Isn’t a Ponzi scheme based on rewarding the ‘early’ investors by paying them using funds from the more recent investors?

That’s not how this platform operated. Everyone had an equal chance if money was invested well.

It was effectively its own stock market, where FI took a cut of every trade made... You could buy and sell at a profit or loss to other traders, and the FI took their slice of the pie whether the price went up or down.

I’ve seen a lot of people rightly hammering them, but most are suggesting it was horrendous mismanagement rather than a Ponzi scheme from what I’ve read. I could be wrong though.

[Keith]

That is the text book definition of how a Ponzi scheme works Saf.

Isn’t a Ponzi scheme based on rewarding the ‘early’ investors by paying them using funds from the more recent investors?

That’s not how this platform operated.

It is.
It is/was exactly that.

In 2020 a document was sent to the UK Gambling Commission, which highlighted issues surrounding Football Index’s dividends, which it argued resembled the activities of a pyramid scheme.

The report estimated that in January 2020, Football Index’s liabilities ‘exceed £1 million per month’, (For "liabilities" read the dividends paid to investors) and that the only way the firm could continue to operate in the long term ‘is through the constant sale of yet more new shares to new users alongside a constant churn in positions’.

Concluding the report, the author argued that ‘should user growth stop or decline, the company would quickly find itself unable to pay these liabilities to users’.

[SM]

That is the text book definition of how a Ponzi scheme works Saf.

Isn’t a Ponzi scheme based on rewarding the ‘early’ investors by paying them using funds from the more recent investors?

That’s not how this platform operated.

It is.
It is/was exactly that.

In 2020 a document was sent to the UK Gambling Commission, which highlighted issues surrounding Football Index’s dividends, which it argued resembled the activities of a pyramid scheme.

The report estimated that in January 2020, Football Index’s liabilities ‘exceed £1 million per month’, (For "liabilities" read the dividends paid to investors) and that the only way the firm could continue to operate in the long term ‘is through the constant sale of yet more new shares to new users alongside a constant churn in positions’.

Concluding the report, the author argued that ‘should user growth stop or decline, the company would quickly find itself unable to pay these liabilities to users’.

Can I ask where you got that information from? Would genuinely be really interested in reading that...

[Esox Lucius]

Saf, if you type in "UK gambling commission report on Football Index" on a search engine you will find the Guardian report and much other stuff, including the Gambling Commissions defence of it's actions once fears had been raised.