Law firm investigates group claim against Football Index

Leigh Day said customers had been failed by the Gambling Commission.
Leigh Day said customers had been failed by the Gambling Commission.

A law firm claims that both Football Index and the Gambling Commission misled customers ahead of the player trading platform’s collapse.

UK.- Leigh Day Solicitors is investigating a possible group legal claim from customers of Football Index as the operator Betindex enters administration.

The law firm said it believed that Football index customers had been “misled by the platform and failed by the Gambling Commission“.

It suggested that a claim could be launched either against the operator or the regulator.

Betindex announced that it would enter administration just days after reducing the dividends that Football Index paid on player transactions through its self-styled football player trading platform.

Leigh Day said: “Following the suspension of their betting licence, Football Index have suspended the platform leaving individuals unable to withdraw their money.

“An administrator has been appointed. We will be investigating whether Football Index was distorting the product they were offering to consumers.”

Matt Zarb-Cousin, chief executive of Clean Up Gambling, has lent his support to the intended claim.

He said: “Clean Up Gambling is working with Leigh Day to ensure Football Index users have the best possible chance of getting redress from a company that has consistently misrepresented its product and misled the public regarding its sustainability.”

Gambling Commission criticised over Football Index collapse

The Gambling Commission has come in for increasing criticism over the collapse of Football Index. 

It has been reported that John Whittingdale, the new undersecretary for the Department of Digital, Culture, Media and Sport responsible for overseeing UK gambling law, had “frank discussions” with the Commission’s leadership on the matter following media attention over the amount of money potentially lost by Football Index customers.

The All-Party Parliamentary Group for Gambling Harm (APPG) has said that Football Index’s collapse showed a comprehensive overhaul was needed of how the British regulator monitors gaming operators and judges their suitability

It has also questioned why the commission approved a sports betting licence for a brand that marketed itself as a trading exchange platform and offered no traditional sports betting services.

The criticism follows Neil McArthur‘s unexpected resignation as chief executive of Gambling Commission this week..

So far, the Gambling Commission has suspended Betindex’s licence. It said in a statement that “Football Index may not be suitable to carry on with licensed activities”.

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Football Index Gambling Commission gambling regulation