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On 14/01/2021 at 12:33, Smiley Culture said:

Got into a Twitter rabbit hole on Football Index and people really are pissed off. How has it gone so badly wrong? The product had massive potential. 

I think the concept still does. You kind of hope and established bookmaker takes the concept and runs with it at some point as the actual concept is brilliant.

There latest announcement sounds very Footstocky.

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1 hour ago, The Palace Fan said:

I think the concept still does. You kind of hope and established bookmaker takes the concept and runs with it at some point as the actual concept is brilliant.

There latest announcement sounds very Footstocky.

If a competitor who didn’t constantly change the product and mess around or a bookmaker took over Football Index, it would blow up, I reckon. 

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  • 1 month later...
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Could've swore I put a few posts in here about how I've basically sold everything. Ended up taking a loss in the end which is infuriating. All that to end up losing. You live and learn.

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7 minutes ago, Smiley Culture said:

Have you moved on to an alternative?

Nothing yet. I haven't really looked into it either. I felt a bit cheated in a way, I liked the idea but I feel that the professional traders will always win.

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12 hours ago, Dan said:

Nothing yet. I haven't really looked into it either. I felt a bit cheated in a way, I liked the idea but I feel that the professional traders will always win.

That's what has always put me off the Betfair Exchange. I didn't realise how phenomenal some people have got in that form of market.

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16 hours ago, The Palace Fan said:

That's what has always put me off the Betfair Exchange. I didn't realise how phenomenal some people have got in that form of market.

They will always win. They see the rookies coming. I suppose it's one of those things that you just have to get good at before you make any serious investment into it. They've been in our position, they just wanted to become actual traders. Football Index attracted people like me who don't really (never say never) and just saw it as a way to try and make a bit of money on football knowledge. I think if it was based on that a lot of people on here would've made good money from it - but in the end it's been restructured umpteen times and the pros will always know how to react, whilst we're just trying to play fantasy football.

Miserable but what can you do.

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20 hours ago, The Palace Fan said:

That's what has always put me off the Betfair Exchange. I didn't realise how phenomenal some people have got in that form of market.

 

4 hours ago, Dan said:

They will always win. They see the rookies coming. I suppose it's one of those things that you just have to get good at before you make any serious investment into it. They've been in our position, they just wanted to become actual traders. Football Index attracted people like me who don't really (never say never) and just saw it as a way to try and make a bit of money on football knowledge. I think if it was based on that a lot of people on here would've made good money from it - but in the end it's been restructured umpteen times and the pros will always know how to react, whilst we're just trying to play fantasy football.

Miserable but what can you do.

I use the Betfair Exchange. Took some getting used to and I read a couple of books on it to get a better understanding of how it worked and it definitely helped. I’m certainly no pro on the Exchange and I’ve been burned a couple of times on there but I am pretty much your beginner still. I do the most basic of stuff on there in terms of laying the draw or very, very occasionally laying a side. 

Football Index was completely different from Betfair or traditional betting. I think there was something on offer there for people with different budgets. I thoroughly enjoyed looking for hidden gems, younger players who were quite cheap and undervalued. Once they started messing around, I had enough. It’s a shame because it was very good and was, essentially, Football Manager with actually money involved. 

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  • 2 weeks later...

Just seen on Reddit there’s a lot of controversy about dividends being slashed and player values being a fraction of what they were overnight.

I’ve always been interested by Football Index because I liked the idea of gambling on a platform that operates similar to the stock market. I never tried it though because I thought it was an even harder game than “investing” (but tbh I use the stock market like a casino). But it does look like the business model operated as something of a pyramid scheme/ponzi scheme - needing new members to pay out the old members. Seems like they were always due for some trouble with that model.

But I feel for people who’ve lost a lot of money in this. Seems wrong and that Football Index should be forced to find a way to fund returning players to their old values.

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353871872_Screenshot_20210306-235605_FootballINDEX.thumb.jpg.d2a09840a28ff1e2151e5e52a30197e8.jpg

They won't let me withdraw the cash balance I've had sitting there since October without accepting the new terms and conditions which allows them to change the terms of the bet so drastically.

If I refuse they'll sell all my shares at market price now and give me the end result.

Think I'll wait it out for three weeks to see if anything happens. I hope the bad press leads to some form of change.

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I looked into investing in this a fair while ago, but didn't based on what I read on here. I'm glad that I didn't. It looks like a horror show. Seeing some of the tweets being showcased by the tabloids, people have lost their entire life savings: one I saw was nearly a quarter of a million down. Absolutely horrific.

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9 hours ago, Robbie said:

I looked into investing in this a fair while ago, but didn't based on what I read on here. I'm glad that I didn't. It looks like a horror show. Seeing some of the tweets being showcased by the tabloids, people have lost their entire life savings: one I saw was nearly a quarter of a million down. Absolutely horrific.

To know that people on this forum have potentially prevented you being scammed out of your hard earned money cheers me up no end.

I see it as a life lesson. I've lost disposable income but I feel incredibly sad for those that have had horrible conversations with loved ones over the week. There arrogance as a company over the whole incident is just astounding.

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