BETTING & GAMING COUNCIL UNAWARE OF GAMBLING COMMISSION’S FOOTBALL INDEX CONCERNS

The Betting and Gaming Council (BGC), the UK industry body representing most major gambling operators, has distanced itself from the Gambling Commission’s handling of Football Index. 

As reported last week, business rescue and recovery specialist Begbies Traynor has now started registering claims against BetIndex, operator of Football Index, after the company collapsed into administration on 26 March following a dramatic liquidity crisis. 

It has also emerged that the UK Gambling Commission, who’s previous CEO, Neil McArthur, stepped down immediately before the scandal broke, was explicitly warned about Football Index’s “exceptionally dangerous pyramid scheme” business model as early as January 2020.

Now, the Betting and Gaming Council (BGC) has issued a statement explicitly distancing itself from the scandal, saying:

“Following the suspension of BetIndex Ltd’s operating licence by the Gambling Commission last month, we immediately suspended their membership of the BGC.

“We have been concerned about reports that the Gambling Commission was made aware of issues surrounding Football Index’s business model as early as the start of 2020, something the BGC was not made aware of at the time.

“The top priority remains consumer welfare and we hope that the inquiry leads to vital lessons being learned for the future.”

London-based law firm Leigh Day, which is now representing a growing list of former Football Index customers, has joined others in saying that the Gambling Commission itself has serious questions to answer about what it understood of Football Index’s activities.