If not, they'll just pay out twice 🤷
they always get it sorted out properly in the end. silly mistake though.
My only concern with your post would be that if you are stating that FI can use all of the funds invested as they see fit then I'm not sure that would meet the regulations of the gambling commission.
Misto is correct, it does - as I say above it's only account balances that need to be protected to be compliant.
You really need to be relying solely on FI remaining a solvent company, not the regulators to protect you. Have a read around some of the stuff about other companies going bust regulated by the GC.
Not trying to scare anyone, and my money is definitely where my mouth is where FI is concerned, but that's the reality.
I've looked into this too - and I'm not sure this is correct. FI has medium protection. This does indeed mean funds are 'ring-fenced' in a separate account to FI operating funds.
But here's the catch, this only covers account balances NOT wagered bets - ie; your Portfolio, which as you can imagine, is the vast majority of money in the product. From a regulatory point-of-view, wagers can be used as operating funds. I'm not sure whether FI actually do this or not - but they have confirmed this is their regulatory set-up themselves.
As far as I can make out, If FI were to go bust, then traders would be treated as unsecured creditors - ie; likely to get very little of your PF value back, unless another buyer steps in and covers everyone.
So that's the legalities - in other words, if FI were to go bust then it's probably very bad news. Good news is, in my opinion, the risks of this ever happening are lower than they've ever been - and FI seems to be in good health as a company (although as a private company, there's little concrete to reinforce this).
They'll pay out the proper places at some point today. Don't know why they didn't correct it before midnight, like they had done earlier in the evening, but they've cost themselves the Ramos divs paid out incorrectly. It's their mistake though, and they always get the proper payments out eventually.
👍 I'll open the bidding at £20 ✋
the problem is the 100 point story is bugged, repeating on the RSS feed or something, so it's score keeps getting added at every update. They'll take the extra points off before the payouts, as they've already done it once this evening. If not, they'll just pay out twice 🤷
very kind words @johnboywalker, but you really are too generous. At least even I worked out by the Quarter-Finals I should probably make sure I'd bought all the players I'd picked.
If I get around to it, I may try and put something together about some of the thought processes behind why I picked who I did at various points. Probably a good reminder for me, and may be of some use. Enjoyed playing it throughout though, and that's the main thing (always easier to do when you're winning of course!)
cool @Misto, thanks again. i'd thought of going through some of the picks too (maybe with a rolling total at end of each round) - would be interested to see what you can come up with.
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