UK Gambling Commission’s chief executive says Football Index “not a Ponzi scheme”

UK Gambling Commission’s chief executive says Football Index “not a Ponzi scheme”

Article brief provided by iGaming Business
  • Conor Mulheir, iGaming Business
October 13, 2021 8:53 PM
  • Conor Mulheir, iGaming Business

    Andrew Rhodes, interim chief executive of the Gambling Commission of Great Britain, has published a blog post responding to common questions from consumers relating to the collapse of BetIndex, operator of the Football Index sports betting brand, earlier this year.

    Rhodes said the post aimed to set out answers to recurring questions relating to the brand since the publication of the Department of Digital Culture, Media and Sport (DCMS)’s independent review into the matter last month.

    He said the post aims to clarify any misunderstandings of the actions taken by the Gambling Commission relating to Football Index’s collapse.

    First, Rhodes stated that the brand was not operating as a ‘Ponzi scheme’, as found by the DCMS’ independent review.