Sports, Fantasy & Virtuals
GAME OVER? FOOTBALL INDEX COLLAPSES & ENTERS ADMINISTRATION
Sports, Fantasy & Virtuals
GAME OVER? FOOTBALL INDEX COLLAPSES & ENTERS ADMINISTRATION
UK-based football trading platform Football Index has collapsed, suspending its platform and entering administration.
The company, which is licensed by the UK Gambling Commission, has confirmed that all trading and payments will be suspended until further notice.
Styled as a “stock market for footballers,” Football Index had faced a spiraling crisis over the last few months, as liquidity dried up and prices collapsed – with problems worsened by the impact of the COVID-19 crisis on football.
As reported earlier this week, the company had been forced to disable comments on its Twitter feed after anger started boiling over among users following a move to slash dividends. It is thought that many users have lost significant sums on the platform over the past few months, with some users reported to have invested six-figure stakes in the platform.
Football Index has released a statement saying: ““The Board of BetIndex Limited has consulted with external legal and financial advisors, and the UK and Jersey Gambling Commissions. The decision has been made to suspend the platform.
“The dividend restructure announced on Friday was a necessary step in a business recovery plan to seek the long-term sustainability of the platform. However, it is clear that this has not been well received and we need to find a more agreeable way forward.
“We are pursuing a restructuring arrangement to be agreed with our stakeholders including, most importantly, our community. We are preparing this through an administration with insolvency practitioners Begbies Traynor, to seek the best outcome for customers with the goal of continuing the platform in a restructured form.”
AYO.NEWS says:
Although Football Index has broached several possibilities with a view of saving the platform, including equity being shared among customers, a new management team, and board representation for users, it’s hard to see how the platform can possibly recover from this.
At the end of the day, the fundamental flaws and risks, which were clearly not appreciated by many users, of the platform’s basic business model have been revealed. With trust absolutely shot to pieces, anger sure to grow as the scale of losses dawns on people, plus a popular press that is likely to crucify everyone involved in the project, we’d say “put a fork in it” because Football Index is done.
And, let’s not forget, many have already questioned the way that Football Index has marketed itself, giving the impression it is more of an investment tool than gambling product. With anti-gambling sentiment at an all-time high in the UK, and the Gambling Act Review currently underway, the fallout from this collapse could affect far more than just Football Index.
Will we see a phoenix rise from the ashes or is this the end for the “football stock market?”
Co-founder and Chief Editor of AYO.NEWS: Coming from an art and design background, Oliver has a passion for video games and esports, and has several years of experience working at the heart of the iGaming and sports betting industry in Malta.

British betting operator Betfred has announced a partnership with data science firm Future Anthem.
By leveraging its anonymised game data, Future Anthem will help Betfred surface and action insights into players’ journeys and behaviours on their games. This will enable the operator to deliver a more personalised experience and optimised gaming channel for players.
Regarding the collaboration, Managing Director of Betfred Digital, Rakesh Chablani, said: “We continue to invest in our core platforms and technologies, in order to offer the best customer experience to our players. Taking advantage of Future Anthem’s existing technology, AI models, and experienced staff, under the guidance and leadership of our strong in-house data team, enables us to satisfy more of our objectives in a shorter timeframe.”
While Leigh Nissim, Future Anthem’s CEO, added: “Working with a customer-orientated organisation such as Betfred brings out the best in our Game Data Science – our behavioural models are a great addition to the Betfred.com customer journey with automated recommendations that improve the player experience for everyone. We’re excited to be working with Betfred’s team on this journey”.
Future Anthem also counts Big Time Gaming, betfair, Entain, and PaddyPower among its clients.
AYO.NEWS says:
With regulations, especially in markets like the UK, becoming ever stricter, it seems the only viable way forward for operators is to harness the power of big data and AI – even if it is as understandable as magic to most of us.
We couldn’t have said it any better…
Here’s some motivation to build a better future.#motivation #technology pic.twitter.com/T7WEslSg51
— Future Anthem (@futureanthem) December 31, 2020
Image credit: Christina @ wocintechchat.com
SportsTech supplier Stats Perform has announced a partnership with non-profit organisation Women in Sports Tech (WiST) to generate more opportunities for women.
Founded in 2018, WiST’s mission is to be the ultimate global community connecting women at all experience levels with the business leaders who want to hire them—from internships to board seats. As an official partner, Stats Perform will support the impact of WiST’s initiatives while also being a member of the WiST NETWORK as a hiring employer.
“Stats Perform is breaking ground on several data-driven innovations in sports. It’s exciting to see such a company commit to helping advance women within our industry,” said WiST Founder/CEO and Chair Emeritus Marilou McFarlane. “Stats Perform shares the goals and values we have at WiST, and we look forward to capitalizing on this partnership to make a meaningful impact on gender diversity in the sports technology industry.”
In addition to joining the WiST NETWORK, Stats Perform will support critical WiST initiatives such as the WiST Fellowships program, which provides internship awards for college and grad students. Stats Perform will also contribute to WiST Next Gen, which engages with middle and high school young women on the array of sports tech career opportunities available to encourage continued STEAM studies and sports participation.
“As part of Stats Perform’s commitment to DE&I, we are proud to have partnered with a non-profit organization whose main objective is to ‘change the ratio’ within the Sports Tech industry,” said Stats Perform Chief Product and Marketing Officer Nancy Hensley. “At Stats Perform, we recognize that greater diversity sparks more exciting innovation, and we want to do all we can to have an impact on diversity within our company and industry. We are thrilled with the work Marilou and Women in Sports Tech are doing and look forward to supporting the organization and its mission in the years ahead.”
Global online betting and gaming company Betway has received a licence for sports betting in Germany.
The regulatory authority issued the license for Betway on 9th March 2021, permitting the online bookmaker to offer online sports betting products to customers throughout Germany.
With a growing presence in Germany, and successful partnerships with Bundesliga sides SV Werder Bremen, Hertha BSC and VfB Stuttgart this announcement solidifies the company’s position as one of the leading operators in the market.
Anthony Werkman, Betway CEO, said: “We are thrilled to announce that Betway have received a sports betting licence from the Regional Council in Darmstadt. As a leading regulated online betting and gaming company this gives us the transparency and security to cement our position as a responsible gaming provider in the German market.
“We look forward to delivering on our commitment to our German customers, offering them an unrivalled online sports betting experience in a safe, fair and responsible environment.”
Sports, Fantasy & Virtuals
VEGAS-BASED STARTUP BETTHOUSE TARGETS EXPANSION THROUGH NEW FUNDING ROUND
BettHouse, the first non-legacy sportsbook to gain market access in the US, has announced a new funding round ahead of its roll-out across the nation.
The Las Vegas-headquartered online sportsbook and mobile app, is pitching itself as designed for sports fans who want to feel the buzz of the bleachers when they bet, and will debut in Iowa next month, and plans to expand to four states by the end of 2021.
BettHouse integrates the technology platform from Bet.Works and Simplebet’s micro-betting price engine, and is led by what it calls a “major league executive team.”
“BettHouse’s mission is to create a simpler, more profitable and engaging betting experience all fans will love,” said Steve Berman, BettHouse CEO and US online sports betting pioneer. “From the moment a consumer opens our app they will see and feel the difference. BettHouse is simple, fan-friendly, intuitive and positioned to speak to a sports fan first. By offering that instant gratification, we will appeal to everyday fans and traditional sports bettors.”
President and Founder Nitin Jain commented: “The US betting market is projected to be worth $15bn by 2025, but such projections are based on the current product landscape. BettHouse will focus on the micro-markets, which will expand revenue and handle above traditional offerings via more betting opportunities for customers.”
BettHouse says it will focus investment on IP development and the pursuit of market access in jurisdictions where sports betting is legalized or where legislation is pending. This includes multiple US states and Canada, where Federal Government-backed legislation to end restrictions on single-event sports wagering is progressing.
AYO.NEWS says:
There’s no doubt that BettHouse is going to have its work cut out taking on the extremely well-resourced and experienced ‘legacy’ sportsbooks. But, as we’ve pointed out before, the growing importance of younger bettors who have grown up with microtransactions in video games, coupled ever-tighter regulations, could mean micro-betting is the way forward for operators.
Cameroon-based sports betting operator, Winnerbet, has entered a partnership with next generation platform provider Pronet Gaming.
Winnerbet, which currently has over 300 retail locations throughout Africa, will be migrating to the Pronet Gaming platform, making use of the supplier’s full turnkey solution across both online and retail operations.
Colin McDonagh, Chief Sales Officer at Pronet Gaming, said: “As a platform provider, it’s particularly pleasing when your work in pulling together a strong product portfolio is recognised by an operator looking to accelerate its commercial growth.
“It was clear from the outset that Winnerbet was keen to utilise our market-leading product offering across both retail and online and we are delighted to be working with an operator and brand that resonates so strongly for players in Cameroon.”
Winnerbet’s CEO said: “We are confident in our belief that migrating to Pronet Gaming’s platform will prove to be a winning move as we aim to cement our status as a forward-thinking operator.
“The sports market in Cameroon has fantastic growth potential and we can’t wait for our players to engage with such a high-quality and wide range of products.”
Staying with Pronet Gaming, last week the company announced a new partnership with live gaming specialist TVBET.
Image credit: Svenska Spel
Swedish state-owned lottery and sports betting operator, Svenska Spel, has selected Forsman & Bodenfors as its new lead advertising agency.
One of Sweden’s premier advertising agencies, Forsman & Bodenfors has around 700 employees in offices in Gothenburg, New York, Stockholm, Toronto, Montreal, Shanghai, and Singapore. The agency’s portfolio of clients includes global brands like Volvo, H&M, Häagen-Dazs, Goldman Sachs, TUI, and American Express.
Forsman & Bodenfors was selected following a tender issued earlier this year, and will be tasked with refreshing Svenska Spel’s brand and messaging. This will include the operator’s 2021 Tokyo Olympic campaigns, with Svenska Spel being principal sponsor of the Swedish Olympic Committee’s athlete development program.
The contract with the agency is valid for two years, with the possibility of an extension, and comest into effect in May after the current agreement with Bloomy Ideas and Jung expires.
Anna Ekström, Head of Marketing Communication & Activation for the group brand at Svenska Spel, said: “Svenska Spel’s group brand is strong, but we can become even better at communicating all the good things we do, both in gaming responsibility and sports. That is why we are very happy to have Forsman & Bodenfors as our partner. With their experience in branding, advertising and with a corporate culture that suits us, they will be a valuable partner for Svenska Spel.”
AYO.NEWS says:
With operators like LeoVegas pushing standards higher with new global marketing campaigns recently, the need to have strong branding in hyper-competitive markets like Sweden is pressing. Svenska Spel’s selection of such a renowned advertising agency seems to signal a desire to up the game when it comes to creativity, which can only be a good thing. We can’t wait to see what Forsman & Bodenfors come up with.
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