Honest Assesment



  • Today Football Index have should massive naivety at best or total disregard for their customers at worse if it is the first then the head of marketing and some directors should go if it is the latter then we should talk with our feet.

    The idea in itself is not bad if continued after the trial and thought of logically.

    All newly bought players can win a small additional dividend in there 1st month of ownership

    This should not have had the effect on the markets it has because when you look at it the commission on selling a player to re buy him every month will in nearly every case be more than any dividends earned. Therefore it is a nice perk when buying new players.

    My issue is the way it was implemented.

    A. If it was just badly managed start to finish then heads most roll: Twitter hype pretending it was huge, Website crashing, teasing tweets throughout the day, Wrong dates and lack of clarity - these are the actions equivalent to a pay day loan company not an aspiring tradable market.

    B. My worst fear is this was a targeted attempt to raise significant income whilst distorting the market and trying to move the platform to a much more weekly gambling platform that is all about short term profit rather than building a high quality sustainable product. They built hype, topped the hype up during the day knowing traders were expecting easy profit (traders are just as guilty) launched a promotion knowing that a vast amount would just look at the headline and dive straight in without looking into small print whilst others would not be able to access the message due to website not being good enough to handle the volume of traffic and like sheep these would buy buy buy because everything was flashing green. Then everyone finally reads the terms and realises it was not worth it and the whole platform has been distorted. This is unscrupulous business and Adam Cole should be very embarrassed about the whole shoddy episode.

    This whole launch could have been handled by a couple on interns on there holidays better! Something like - From October 20th any time you buy a new player he will win a 2p goal dividend at 0.5p assist dividend for 30 days after purchase * please note any dividends won may less than commission paid on selling after the 1 month period.

    This has raised a big red flag as far as the transparency, solvency and governance of Football Index and I am starting to question the finances and sustainability of the platform if it needs raise funds in this type of way. Many a new company can look to be viable from the outside by splashing cash it does not have to try to increase it's profile and gain customers.

    To reinstate trust I would like Adam Cole to publish up to date accounts for Football Index and explain the need to move to a more day trader/gambling platform than a short/medium term investment platform.

    It would also be good to introduce a focus group that meet quarterly with management that can discuss the product in a clear and transparent environment. Having worked in markets and with entrepreneur's for over 20 years I do not think these are unusual requests.

    Finally I really do hope this has been just an one off amateur promotion that highlights the need to recruit much higher calibre people. Many start ups have brilliant ideas people but a product can grow well beyond there skills and that is the point the move into the background (with there substantial share holding) and hire better people to move the product forward.

    Sorry for the long ramble hope it is worth the read!



  • @Fletch said in Honest Assesment:

    This should not have had the effect on the markets it has because when you look at it the commission on selling a player to re buy him every month will in nearly every case be more than any dividends earned. Therefore it is a nice perk when buying new players.

    Then the market needs to be more intelligent (if your assessment of value is true).

    Agree with your points in A).. seems like they struggle to roll out promos flawlessly but in the past have corrected or even more than compensated for mistakes.

    B) TLDR.. but agree with some of it. However, it’s not in the interest of FI to compromise/crash/lose faith in the index. I imagine/hope a few smart guys have brainstormed for months to come up with ways to increase turnover without causing too much disruption. Remember, both player and “broker” need to be able win for this to be long term viable. This enhancement has increased turnover but hasn’t severely disrupted the index imo. Time will tell if this is right or wrong. But point blank, nobody on here wants FI to fail.



  • @Fletch "All newly bought players can win a small additional dividend in there 1st month of ownership" Much better idea, key word as well "ALL"



  • @Fletch said in Honest Assesment:

    I really do hope this has been just an one off amateur promotion that highlights the need to recruit much higher calibre people.

    Totally agree; professional, competent & honest people who understand the importance of investor confidence when dealing with financial platforms.



  • interesting read. I think when it settles down things will be ok.



  • @Fletch really good and interesting post. I'm relatively new to FI but I could definitely see the benefit of those in charge working more closely with people that have been on the platform for a while such as yourself.

    I've never been a gambling man and I was apprehensive when I put my money into the index at the start of August. However, everything I've seen since being on FI has given me huge faith in the product (apart from yesterday). I joined the index with the mindset of it being an investment, not a gamble and promotions like this won't change my thinking.

    I for one am hoping that yesterday was just an error in judgement by FI.



  • I can see the idea for a dividend being given for a goal and assist as good. However do not like that it is only for 1 month, and then must sell and buy again in order to gain more dividends. That's just taking the mick out of us. They should keep it for everlasting as long as futures are held.
    Mike Bohan said this was better news than a share split but to me that's really unfair and untruthful to say, and takes advantage of naïve people. So many people seem to not like this and I think they should look to improve this to make us happy. I am up for the dividend but just not in this way.



  • @Fletch

    The best post i’ve read on this subject.


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