Dropped faster than a prostitutes knickers...



  • What a fall from grace!

    FootballIndex has gone from 5 starts to dropping to a three star company on Trustpilot within a matter of 6 months. It's unbelievable, and the sentiment is not changing whilst they sit silently, doing nothing but release IPO's.

    https://uk.trustpilot.com/review/footballindex.co.uk

    I have to say, with all the trust and faith in the world, it's difficult treading water for so long, you can't avoid the negativity, if not here, or twitter or elsewhere, logging in to see my port value dropping each day is not helping.

    I think I might take a Christmas break, and hope something changes :-)



  • We need action from FI immediately. But my guess is this will wait Until the new year



  • @NewUser515012 I think so too. I think they might have something big, but their thinking is "new year, new game", so they want to associate whatever it is with a clean slate, a fresh start, therefore leaving it until 2021.



  • From my point of view for whatever it’s worth, I think they need to encourage long term holding somehow but then they wouldn’t like that because they make more in commission on people constantly trading. Some kind of percentage reward for holding a player for 3 months or something.



  • Probably for the best if you feel that way. I am still pretty confident that I can turn over profit by sowing the seeds now, but if you are not optimistic and with (an albeit short) winter break coming up, it's understandable.

    Take your time, see if you want to carry on and when you come back, you can decide if you want to carry on, or bin it.

    Alternatively, if you'd like some advice on your port, or strategy at the moment(and I am not saying I am the oracle, but could help with a potentially differing view), DM me



  • @UncleBeard

    we all need change, but we also all need perspective. i've had lots of weaker moments where ive lost faith with FI over the past few months...however currently i'm actually enjoying it again... the main question in my head is do i think FI will be around this time in 3 years - and IMO they will be, thats all i'm worried about. As a result ive probably done more trading in the last 2 weeks than i have for months, i'm enjoying doing it and fingers crossed i'll reap the rewards in 6 months time. if i dont then, its my own fault i guess and can be called naive or whatever - but i'm going with my gut, seeking advice from various members who ive learned to trust and i'm 100% on board. i feel really positive about the potential outcome of simply staying afloat during this period and mopping up some bargains.
    i'm not sure we do need action 'immediatley' make the most of buying at the low prices, get your portfolio in the best shape you can and then we'll see where we are in a few months



  • @G27 historically FI have always done something when the market needed stimulating but I think that's partly what is causing some of the current issues, as people are waiting for the announcement to get buying again. Maybe FI just need to let things settle. Dividends double what they were last year and we now have TOTM too and with prices as they currently are, yields are probably at an all time high. Arguably the rewards are already there for us now and FI just need to step back and let it run it's course.

    Not saying they couldn't (or won't) do something, but if they do, I hope it is a long term feature or upgrade, rather than a short term promotion. Otherwise, when that is over, things will drop again while people wait for the next one.

    Under the current structure, FI control the dividends but they don't control prices the way they did. If sellers stop accepting low bids and raise their offers, prices will rise. Now obviously people can trade however they wish, but it really is that simple.



  • @Mintyfresh said in Dropped faster than a prostitutes knickers...:

    @G27 historically FI have always done something when the market needed stimulating

    That's because in the past, FI needed prices to continuously rise because with Instant Sell, if a player crashed, FI were on the hook for the shares of everyone on their way down.

    For example, if a player was £10 and he crashed to £5, they bought at £9.75, £9.74, £9.73 all the way down to £5, so it was entirely in their interest to buff the market or they were buying assets that were losing money. Now, it's entirely in their interest to crash the market.



  • Historically FI were as invested in the market as the traders were so it was in their interests to keep the bubble inflated

    that is no longer the case , its now trader v trader and all of us VS FI

    FI can basically can now just sit on the sidelines and laugh whilst all current traders fight for the ever contracting market cap

    i went through their current T&C's with a toothcomb last night there's some absolutely horrendous clauses in there that would make the hairs on the back of your neck stand on end

    personally i think FI have realised they've made their money........ expanding into new territories with the mess they've made in the UK is going to be nigh on impossible and thats without the regulatory issues they'll face as a result of no deal brexit

    the product will never become an alternative investment vehicle because and they quite clearly state in black and white they are selling bets ......no institution is going to want to be placing bets on an imaginary stock market run by a third party the risk is unbelievable lmao

    then they have the tax implications of actually becoming an "alternative asset class" which is another minefield

    im really sorry to break it you guys but football index is a sinking ship and the rescue boats are running out quickly

    i have a horrendous feeling this will be all over the news in 12 months for causing mass financial loss



  • @NewUser515012 said in Dropped faster than a prostitutes knickers...:

    From my point of view for whatever it’s worth, I think they need to encourage long term holding somehow but then they wouldn’t like that because they make more in commission on people constantly trading. Some kind of percentage reward for holding a player for 3 months or something.

    When I first joined FI, I read the rules and noted the 30 day IPD eligibility criteria. As a new trader, my first instinct was to get rid of players within 30 days.

    My initial deposit wasn't enough to buy the premium players, so PB and MB wasn't likely to happen. It felt like MP and PB was reserved for a select few, so FI became a maximum 30 day bet.

    I can see why a lot of new users from traditional gambling backgrounds wouldn't be thinking of holding for 3 months.



  • @Honeylight This is a really good point which i totally agree with, I have been on for 3 months now and definitely started with an IPD mentality and now am transitioning into PB / MB players



  • @thelossadjustor Can you give some examples of these T&Cs please?



  • @NewUser515012 I guess there’s little they can do whilst this most recent promo is on. Another Promotion that just incentives short term gambling, increasing volatility and encouraging people to undercut each other driving down prices further by the day.

    I’m now convinced this is a planned result for them. the existing customers ( we ) are collateral damage.

    I’m sure they can’t be this blind to what’s going on and obviously not concerned enough to communicate or change things to stop the rot.

    Let’s see what they do when this promotion ends. I hope by now this is a low as it needed to go before bringing about stability and driving home the reboot !

    Or are we not low enough yet ?

    Are there more promotions to come designed to drop values further ?



  • @Dan-The-Man can you please explain how it is in FI's interest to crash the market. Lower prices result in lower commissions for FI. Genuine question from me, I would appreciate your explanation.
    Thanks



  • @Three-lions are we in a promo? I honestly dont know....



  • @AndydfopT said in Dropped faster than a prostitutes knickers...:

    @Three-lions are we in a promo? I honestly dont know....

    There was the £10k cash drop. You know.. the one where your port drops £10k as fast as possible



  • So do people like @o_O etc accept that any actual losses they've incurred are a result of their own actions? That no one has forced them to sell their shares at a loss?

    I get that things aren't great, I'm sat on a paper loss as well.



  • @Sherbet said in Dropped faster than a prostitutes knickers...:

    So do people like @o_O etc accept that any actual losses they've incurred are a result of their own actions? That no one has forced them to sell their shares at a loss?

    I get that things aren't great, I'm sat on a paper loss as well.

    The value drop of my port is not from my own actions, it's from FI's mis management, and plenty of people think there's a case against FI for the way they changed the terms of the open bet without following proper procedure. I've got an IBAS case going through so we'll see how that goes and go from there.

    In the end, FI have more money than me so they will most likely get away with it.

    Yor paper loss is there to stay though. They changed the game, you won't get that back.



  • no its not a result of his actions

    FI can be accused of market manipulation as they allowed and encouraged prices to inflate to ridiculously high levels under the guise you could sell your shares back to them @ 2% spread

    when they removed that insurance policy thousands of shares in £16 sancho for example effectively became worthless over night , although the market was slow to react on its only really at this point people are starting to wake up and smell the coffee ( and a lot are still sleeping )

    now dont get me wrong any losses you've accrued since the introduction of "matching engine" you will be liable for as you have continued to trade post T&C's changes but any bets prior to that have case to be fairly compenstated



  • @thelossadjustor I'm not looking to be argumentative, i'm really not. But why does FI increasing dividend payouts not cause everyone to fire up then? These can positively and negatively impact traders / player prices depending on who you hold? but dividend increases are a positive thing. Nobody would say they dont want FI to increase dividends in the future.


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