FI created an innovative product based off of the most popular sport followed by millions of passionate fans. A good proportion like to be able to make money on a topic they think they know well and the U.K. population do like a punt / investment and are not adverse to risk (although fairness is a principle that is held very dear..).
The product has changed and coming to it fresh now as a punter, I think has every opportunity to boom again. I would enjoy the product with ‘new money’’, I think we are getting to a market valuation that fits the rules that exist now (maybe a further slight dip to come).
FI need to solve the ‘trapped’ clientele & money is the only way to solve.
I have loved the journey since Oct 2017, plenty of time, effort and enjoyment. I made nice profit, but then a 270% drop in portfolio value and every running bet from March 2020 being a material losing bet, due to rule changes to remove FI liability has FI grappling with unfairness sentiments - they do need to address .
Seems to me that FI must offer clients with bets running pre-March 2020 an equitable way out. Options could include :-
a) Close out bets and make them a non-runner and return stake (with a premium)
b) Restart bets with 3 year shelf life with rebates on price drop
c) Mint new player shares and give to impacted traders to dilute the loss
d) Provide FI trading balance (with withdrawal restrictions)
This will likely cost big money and run into the £millions.
Long term traders are reasonable and FI cannot fund then they need to think of options to fund.
Maybe unique offers such as FI equity (allow long term traders to have skin in the game of success).
Maybe a fund raise will bring a war chest to solve and just offer hard cash to resolve the sense of unfairness.
In the meantime the drop continues, dividend yields increase and the new game looks promising. I agree FI are driving to a short term trading, game rather than a long term one, but not for those that bought into the hype of £7, £10 then £15 player valuations (propelled by FI themselves) then the increase yields will never recover the cost of the bet.
Rule changes and product implementations need to be fair; IS, Order Books, Market Makers, Nasdaq, Liquidity, I think unfairness is the FI problem and they need to address to move forward.