SBC News Voice of the Sports Betting Industry
Begbies Traynor, the insolvency practitioner of Football Index operator BetIndex, has begun to process customer claims against the company, which officially entered into administration on 26 March.
This morning, Begbies Traynor issued a communication to Football Index customers, notifying them that it had begun to register claims against the insolvent business, requiring affected customers to fill out an online form.
As BetIndex’s chosen practitioner, Begbies Traynor are required to carry out all statutory duties and obligations bound by the UK’s Insolvency Code of Ethics, ensuring that all potential creditors can register their claims.
Football Index’s claims process has been made available to all customers, including those who self-excluded on Gamstop.
However, the practitioner underscored that: “Submitting a claim does not mean that the claim is accepted, the validity of claims will be adjudicated upon in due course.”
Begbies Traynor did not provide any further information with regards to how it will qualify customers’ claims or how it will judge the criteria for compensation.
The high coverage fallout of Football Index has seen its disgruntled customers protest that they are owed sums of between £90-100 million in compensation – following the price collapse of the operator’s stock market in March, which saw customers lose thousands of pounds in player value.
Representing customers, London law firm Leigh Day has begun to evaluate legal proceedings against the UK Gambling Commission (UKGC) for its negligence in granting Football Index its sports betting licence.
Cross-party MPs of the All Party Parliamentary Group for Gambling Related Harm (GRH APPG) have continued to call for the DCMS to undertake an independent review of the Football Index scandal.
Widespread criticism has been directed at the Gambling Commission for licensing a company that had been likened to a ‘Ponzi Scheme’.
