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New Football Player Stock Exchange Created in UK
- November 3, 2015 By Nemanja L. -
While the controversy surrounding daily fantasy websites continues, a UK gaming company BetIndex Ltd has launched a new venture that combines sports betting and stock exchange.
And while popular exchanges Betfair and Matchbook are themed around the format that sees their customers trading prices on football matches, BetIndex’s flagship product has created an actual stock market that allows player to trade football players rather than stocks.
Football Stock Exchange Launched in UK
Football Index rates actual soccer players based on a sophisticated algorithm that has been based on basic principles of world’s biggest stock exchange markets.
The player’s value depends on a number of things, such as his performances, his potential, transfer rumours and obviously the demand in the market, with the basic principle of buying low and selling high applying to Football Index as well.
The algorithm that determines the player value in the index has been approved by the UK and Jersey Gambling Commissions, and for that time being, only UK residents are allowed to take part.
It is the market that decides whether the value of a footballer will increase or decrease, but the knowledge of the football game and current events should help customers make informed decisions and improve their chances of turning a profit.
Buy and Sell Players for Profit
Football Index has top 200 footballers in so called first team, with each of these given a price based on the market activity. Real Madrid superstar Cristiano Ronaldo is top of the market at the moment and one ‘future’ or stock of this particular footballer costs £3.80. After making a deposit, players can buy as many of these futures as they like and either earn a profit or lose some money depending on where the market moves.
If your player is top of the list at the end of the day, you get a £0.20 dividend for each future you hold, while two players are promoted to the top 200 list each week based on the customers’ votes.
The company has so far received funding from some well-known investors and they are bracing themselves for additional income that would help market their product in the United Kingdom.