MAMMOTH TASK OF REGISTERING CLAIMS AGAINST FOOTBALL INDEX BEGINS

Customer claims against Football Index, which collapsed into administration on 26 March, have begun to be registered. 

BetIndex, the operator of Football Index, has appointed business rescue and recovery specialist Begbies Traynor as administrator, which has now started the lengthy process of registering and processing customer claims against the company. 

In compliance with UK law, Begbies Traynor will carry out all statutory duties and obligations, allowing all potential creditors (including Football Index customers) to register claims – including those gamblers who had previously self-excluded using Gamstop. 

Despite opening the claims process, the administrator has stressed that submitting a claim will not mean it is automatically accepted, and that “the validity of claims will be adjudicated upon in due course.”

Customer claims against Football Index are likely to total around £100M GBP, and as previously reported, London-based law firm Leigh Day has said it is representing a number of former customers, and is evaluating potential legal action against the UK Gambling Commission (UKGC) for its part in allowing what many see as a pyramid scheme to operate. 

According to the Daily Mail, by 18 March, 5,700 customers had signed up for legal action against Football Index, and potential claims are being investigated against both the company and individual directors. 

The legal challenge against Football Index and its directors will likely grow considerably, as the platform is estimated to have had around 100,000 active users when it collapsed.