- 1 Is Football Index Legit?
- 2 How can I tell it’s not a scam?
- 3 Why do people say it’s a Scam?
- 4 How do Football Index make money?
- 5 What Makes Football Index look like a scam?
- 6 What is Football Index?
- 7 Is Football Index risk free?
- 8 Why is it different to betting with bookmakers?
- 9 What is Media Buzz?
- 10 What is Performance Buzz?
- 11 How does Trading Activity affect the Share Price?
- 12 What is the First Team?
- 13 What is the Squad?
- 14 What is Promotion Day?
- 15 What is the Sign Up Offer?
Is Football Index Legit?
I’ve recently created an in-depth review of Football Index, which you can read to learn about Football Index & what my final thoughts were.
Let me start by stating that Football Index is a completely legitimate website.
If you aren’t completely sure what Football Index is, it’s a platform where you can buy and sell virtual shares in footballers
Football Index is still relatively young, the platform has just turned 2 years old last week.
As the platform is still so young, there are many people who are speculative about it being ‘another online scam’, I can assure you that it isn’t.
There are already over 90,000 members registered to trade, with some traders holding portfolios worth in excess of £100,000.
If that’s not enough to put your mind at ease, Football Index is licenced and regulated by the Gambling Commission & IBAS. These regulatory companies don’t let any website get a licence, companies such as Football Index have to jump through various ‘hoops’, if members raised complaints about them, they would be closed down and fined heavily.
There is nothing more satisfying than seeing a company being officially licenced, as it means they are definitely a secure website.
How can I tell it’s not a scam?
There are many ways that you can assess if a website is a scam or not. Let’s go through them.
Let’s start from the very start. Just like any company now, it has to start with an idea. Adam Cole, the founder of Football Index first sought investment in his company just over three years ago. He had a dream and made it happen. He required just over £1m to get his platform developed so it’s ready for the general public to trade. The value of this company stands at over £6m. It’s now November 2017 and Football Index still has plenty of growth available. The aim for Football Index? To deter people from gambling away their money on Fixed Odds Betting Terminals & Accumulator bets that aren’t profitable. When you trade on Football Index, in less than 0.00001% of cases will you lose all of your investment. This is a much more ethical way to make use of your football knowledge.
Yes, you may lose money on bad investments, but never your full stake. When you are betting, if you lose, the money that you staked is now gone.
As Football Index is in the same category as Sportsbook Betting Sites, it has to be monitored quite heavily. This is to ensure that the company is sticking to the rules in their licence, ensuring they are doing what they can to treat members fairly & ensure they aren’t gambling too much. This is the Gamble Aware scheme. It doesn’t apply to Football Index as much, as it’s a trading platform as opposed to betting. However, to know they are regulated by the ‘big boys’ must be quite reassuring to new members.
When you log in to Football Index, you will see their operators licence number, this can be clicked and will take you directly to the gambling commission account details page for Football Index.
I have attached the screenshot.
Football Index has 0 sanctions to it’s name, meaning that they have followed processes in line with their responsibilities.
There are websites such as 888sport which have received an £8m fine for allowing players with gambling addictions to continue playing on their slot machines.
This should fill new members with confidence, as although Football Index want to make money, they don’t need to use underhand tactics to lure us in, or keep us playing.
Unlike sportsbook website such as bet365, 888sport etc, Football Index do not make money when traders such as myself lose money.
Football Index simply just provides the platform.
Social Media is a key factor in telling whether a website is a scam or not.
Football Index is a verified Twitter account with almost 10,000 followers. This is quite strong showing, considering that only a small percentage of members will follow companies they use on Twitter. I always buy NIKE trainers, but I don’t have anything to do with them on Twitter or Facebook!
Although any website can now ‘buy’ followers and make an account look as if it’s legitimate, if you browse through their page you will see plenty of positive comments from traders, aswell as the fact they love to run a competition. They have a monthly competition to win £500, A Daily £5 ‘Guess The Graph’, Guess the best player in a certain football match and win a Football Jersey… and so on.
The users that do follow Football Index are proof that Football Index isn’t a scam.
Why do people say it’s a Scam?
The main reason that you will hear that Football Index is a scam is very simple. They will have had a bad experience on the Football Index. What they don’t tell you? It was most likely their fault.
Think about it. If a user has deposited money on Football Index, lost 10% of the money he has deposited and now decides to withdraw, he’s going to be pretty angry!
Instead of looking at the reasons why he may have lost money, Investing in Bad Players, Buying Players at their peak, only for them to lose value etc, It’s far easier for a user to take to Twitter or a Forum and declare that the website is at fault, there’s a pyramid scheme starting or that the Football Index is just STEALING MEMBERS MONEY.
Look at this Milner Trade, this twitter member got it absolutely spot on!
The reality of the situation is probably the fact that you have invested poorly, but we all do it! It’s all about how you overcome mistakes.
However, when you are angry, it makes you feel better to rant & try to put others off. Without going too much Off Topic, I will admit I have done this myself in the past.
I received an email from BWIN stating if I deposit and bet £10, I will receive a £10 bet. Sounds good. I deposited and bet, but didn’t receive a Free Bet. Doh. I didn’t hit CLAIM NOW. I then proceeded onto live chat, explained that I didn’t see it but have bet. The lady politely refused & said she couldn’t do a thing to help me. I saw red, logged into twitter and slated every single post that BWIN would post. Did this affect BWIN? Very unlikely as I had 0 followers. Did they credit me the £10 free bet to shut me up? Nope. But, it sure made me feel better!
This is the reason you may see negative comments, in my scenario it was my fault, much like most negative stories I read!
How do Football Index make money?
Football Index apply a charge to completed trades on Football Index, this is their way of making money.
If you buy a footballer, there are no charges.
The charges are incurred when you decide to sell a player.
If you sell 100 shares in Arturo Vidal at £100 total price, you will pay 2% commission. This equates to 2%, so take note that it won’t be £2 every time!
2% obviously works out a lot more expensive on a player such as Lionel Messi, who trades at £9.
But, the Football index system is completely free to use, so being charged a small premium like this ensures that Football Index can keep the site running well.
After all, they’re a business too & need to make some money!
What Makes Football Index look like a scam?
My only issue with Football Index is the incentive scheme it offers.
If you refer a friend to Football Index, you can each earn a £10 cash bonus into your accounts.
The problem with this?
It seems that every trader wants to open up a Football Index page, pushing their players & advising you to SIGN UP TO THIS LINK FOR £10 PROFIT.
I have no issue with the refer a friend reward, but traders will want to earn as much money as possible.
To see accounts pushing tweets consistently, telling members to sign up, does make it seem like a bit of a dodgy scheme, it has to be said!
If you can see past this, there is plenty of fun & money to be made. For me, Football Index is a change from betting… which I was terrible at!
What is Football Index?
Football Index is the new way to trade. As you have learned above, Football Index offers players the ability to buy and sell shares in footballers.
Is Football Index risk free?
Football Index offers £500 Risk Free for new members, but if you are an existing customer, yes it is classed as gambling. Although, if you put your football knowledge to the test, you will be fine!
Why is it different to betting with bookmakers?
There is no comparison between bookmakers and football index.
For example, if you bet on Man Utd and they lose, your complete stake is lost & the bet is completed.
If you invest £20 to buy 5 shares of Messi, but he drops 5p in price, that’s only a 25p loss! There is no way that you can lose your full stake, unless something rare happens such as a sudden death of a player, but I’m sure the Index would do what they could to help their members out. They have been really good so far!
What is Media Buzz?
Media Buzz is a way to make money from footballers that you currently own in your portfolio.
Media Buzz is scored by tallying up articles by the Top Publishers such as Talksport and also newspapers. Each article is scored independently, based on how positive the story is.
At 23:00 each night, the scores are tallied up for that day, the player with the most points will then be eligible for a dividend payout. This will be paid into your account if you are eligible.
Note, you can’t buy the players while they have high media buzz scores and receive a dividend, you must hold the player in the portfolio on the previous day.
What is Performance Buzz?
The second method of earning money by dividends is Performance Buzz.
Performance Buzz has recently been introduced to help members profit even more from the index!
There are 4 ways to make money on performance buzz. This is split into player positions, so you get one for Top Defender, Top Midfielder, Top Forward. There is also a dividend rewarded to the Top Star.
The Top Star is the player who has built up the highest overall number of points. This can be a player from any position, whereas the Top Defender can only be won by a defender ( and so on)
It is possible to win what’s called a ‘clean sweep’ on the Football Index, earning dividends from all possible positions, plus Top Star and Media Buzz. This isn’t very often I’ll admit, but when it occurs, your bankroll will take a healthy increase.
Trading activity is something which directly influences share price, as if a large number of players are sold, the price will ultimately decrease. If a large number of shares are purchased, the price will increase.
If a trader sees another trader pile money into a footballer, they may think that there’s some kind of ‘inside knowledge’ trading occurring, this will then snowball onto hundreds of traders causing a mass increase!
What is the First Team?
The First Team consists of the Top 200 players on Football Index.
These are players which are tradeable & can earn dividends.
Squad players are not tradeable & not eligible for dividends (as you can’t own any shares)
What is the Squad?
The squad consists of every player other than those in the First Team. To be selected for the first team, members must vote on who they want promoted.
Every Friday, two players with the highest number of votes will enter the first team, swapping places with the two lowest priced players from the First Team.
What is Promotion Day?
Promotion day is when two new players enter the Football Index. They enter the market at 25p starting price, so there is tonnes of profit to be made here!
The two lowest priced players in the First Team are relegated.
What is the Sign Up Offer?
Readers of this Review are eligible for cashback when registering!