Football Index is a real money virtual stockmarket licensed and regulated by the Jersey Gambling Commission and the UK Gambling Commission. This is a betting platform and should not be viewed as an investment vehicle.

Dear Traders,

As we enter 2021, I wanted to take this time to reflect on last year and address you directly on the challenges we have faced, as well as on the opportunities we can look forward to.

Without a doubt, 2020 has been a tough year. The team here at Football Index have worked incredibly hard on some essential changes to the platform and on pushing forward the updates and enhancements which were most needed at the time.

However, it is clear that there are still some challenges to address going forward. That is why, after careful deliberations, I am announcing today some changes aimed at making Football Index a better and more fun trading environment for all.

Dividends

Back in September, in response to customer feedback we increased Dividends. However, with a fixture backlog which continues to drive more frequent matches, there is now an overemphasis on In-Play Dividends that has driven short termism and, in extreme circumstances, suspected collusion to ‘refresh Shares’ at the lowest possible price.

In short, In-Play Dividends are having an unintended effect on the market. Previously, they carried a way for footballing events to drive trading in an intuitive and effective way. Today, this is no longer the case. As such, as of today we are giving 30 days’ notice that we are drawing an end to In-Play Dividends, in order to immediately stop some of the short term trading dynamics it encourages. We will continue to pay out In-Play Dividends up to and including matches played on 7th February 2021. This change will allow us to focus these funds on more healthy market stimuli.

One such focus will be the introduction of new trading incentives and opportunities, incorporating each position category, to go live before IPDs end. More details in the coming weeks.

Until now, In-Play Dividends had been a major blocker to our long held ambition of accepting overseas customers from countries such as Germany. This change, however, removes a significant barrier to entry, and we are now looking at alternative territories alongside our other platform initiatives.

Projects

On the topic of ongoing projects, I am aware that many of you have been requesting an update on Nasdaq and other initiatives which have been in the pipeline for some time. More than ever, I want to offer clarity and transparency to our community.

However, in my new position as CEO, I am currently in the process of reviewing all projects and the overall structure of the business. I will update you as soon as this assessment is completed. As I mentioned in my last address to you, I want to shift the emphasis and culture from promises to delivery.

Our focus remains on giving precedence to the projects that provide the most upside to our customers and that make Football Index a fun and enjoyable experience for you all.

Looking forward

Trader feedback has always been crucially important to us. We understand that some of you feel disappointed and have concerns about the way that the market has performed over the course of the past year.

I would like to assure all our Traders that I hear you, and that your enjoyment of our product remains my top priority. While these times have been tough, and remain so in many ways, my goal is to progress having learnt from these experiences, both positive and negative. I hope to channel these lessons into making our product more enjoyable than ever.

The New Year also brings an opportunity for a fresh start and new ideas. I hope that you will all join me and the new leadership team on our journey to make Football Index an entertaining and sustainable opportunity for our Traders.

In the meantime, on behalf of the whole Football Index team, I hope you and your families stay safe and well during the latest lockdown, and enjoy a prosperous and healthy 2021.

Mike Bohan

CEO, Football Index

An update from FI HQ

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