Football Index Issue Statement Regarding Payouts
Football Index have offered a glimmer of hope to its members after releasing a statement regarding the distribution of money owed
Controversial trading platform, Football Index, have offered a glimmer of hope to its members after releasing a statement regarding the distribution of money owed to its thousands of users.
We reported back in March that a change to the Football Index terms and conditions in relation to dividend pay-outs had prompted mass withdrawals, triggering a market crash. Overnight many of its customers lost thousands of pounds which led to the Gambling Commission suspending the licence of parent company, BetIndex Limited and the firm was subsequently placed into administration.
A recent statement from Football Index confirmed:
“On 30 April 2021 the Administrators of BetIndex Limited issued an application for the determination of the appropriate distribution of the monies held in the Football Index Player Protection Account, and the identification of the customer classes who may be entitled to participate in those funds,” a statement from Football Index read. This is the first step towards the distribution of cash balances to customers of the Football Index platform. The hearing will take place at 11:30am on Monday 10 May 2021.”
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