The Football Index, a sports betting platform that launched in 2015, became notorious for its collapse. Half a decade after its launch, the platform had its license revoked, sparking concerns about players’ money. Luckily, it seems like players will be able to get their funds back.
According to a recent update, the Jersey Court has approved a new application by the Football Index’s liquidators that will allow customers to get their money back. Customers will have a short window to seek their funds after which they will get one more chance to have the money from their wallets back.
The Football Index allowed players to bet on professional soccer athletes’ performances. However, the platform collapsed and had its license revoked by the United Kingdom’s Gambling Commission in 2020. As a result, customers’ money got stuck in the platform and players were unable to withdraw it. Millions upon millions of pounds were left in the system, sparking concerns about whether the money will ever be returned.
Authorities suspected that the Football Index may be a Ponzi scheme and opened an investigation of its business. However, it turns out that there might be hope.
The Platform Will Return Customers’ Money
The Football Index’s Trust Deed monies, the platforms’ backup money meant to be used to cover players’ wallet money in case of financial trouble, is currently held by the Viscount of Jersey, the UKGC announced.
Following a decision in the courts earlier this…
