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RE: NFFC Financial Talk - Sausage Roll - 08-03-2021
Bit more about the Football Index thing in the Guardian.
RE: NFFC Financial Talk - ThePromisedLand - 10-03-2021
I hope the club is having a serious discussion with our sponsor.
Disgraceful way to treat football fans - some of which have lost huge sums.
RE: NFFC Financial Talk - Paplane - 10-03-2021
(10-03-2021, 10:13 AM)ThePromisedLand Wrote: I hope the club is having a serious discussion with our sponsor.
Disgraceful way to treat football fans - some of which have lost huge sums.
I've just read the article in The Athletic about it. Some people have put tens of thousands of pounds in and look like losing a fortune. Is it their fault for being naïve or is it Football Index's fault for a betting company masquerading as a stock market? It depends on your viewpoint I suppose. Either way, football has to get a grip on this betting issue because it's go the potential to do real harm to young lives. I've seen it happen with my own eyes. But it wont because too many clubs benefit from the advertising revenue from it. The only way to control it will be by government legislation and I cant see that happening.
RE: NFFC Financial Talk - Sausage Roll - 10-03-2021
Between them and BetBright we're not doing too well with sponsors recently.
RE: NFFC Financial Talk - ThePromisedLand - 10-03-2021
At least when you place a wager with a bookie - inc BetBright - you have a fixed agreement.
With this lot they’ve moved the goalposts - looks very dodgy to me.
RE: NFFC Financial Talk - Sausage Roll - 10-03-2021
(10-03-2021, 01:41 PM)ThePromisedLand Wrote: At least when you place a wager with a bookie - inc BetBright - you have a fixed agreement.
With this lot they’ve moved the goalposts - looks very dodgy to me.
I wondered how they managed to do it at all to be honest. Did they have to sign some kind of deal with FifPro or whoever it is that represents the players? They must have had to do something otherwise surely it was stealing intellectual property?
RE: NFFC Financial Talk - Sausage Roll - 10-03-2021
Something in The Post about this too
RE: NFFC Financial Talk - Knocker West - 10-03-2021
(10-03-2021, 01:41 PM)ThePromisedLand Wrote: At least when you place a wager with a bookie - inc BetBright - you have a fixed agreement.
With this lot they’ve moved the goalposts - looks very dodgy to me.
I know plenty of gamblers who would disagree with you, one of the most notable cases being at the now closed Ladbrokes near Sneinton Market, they managed to change the goalposts on one punter, rather than paying out big, in fact you'll find the get out of jail free card is standard in all betting companies T&C's eg. from a respected bookies T&C', "We reserve the right to suspend the payment of winnings", "We reserve the right to change the minimum and maximum withdrawal levels at our reasonable discretion", "We reserve the right to suspend, modify, remove and/or add a product to the Services at our reasonable discretion", "We do not guarantee which products will be available on our Services. The Services are provided on an 'as is' and 'as available' basis.", "We reserve the right, acting reasonably, to refuse all or any part of a bet or wager, void any accepted bet or wager and withhold settlement", etc. etc.
It's caveat emptor, if you gamble, stake, or risk any money, in a game of chance then you have to accept there is a possibility that you may never see that money again, even if you "win", & that' always been the case.
Bookmakers & other gambling entities exist by receiving more than they pay out, there purposes in life is to take your money & give you a little back as possible, & every time you make a gamble you should be aware of that, you are being exploited for someone else's profit.
I have sympathy for those that have lost out, & very little sympathy for any gambling company, because they all do the same thing, but it i what it is & you know that when you stake your money, so individuals have to decide whether they can afford such losses or not, & if they can't they shouldn't make those bets in the first place.
RE: NFFC Financial Talk - ThePromisedLand - 10-03-2021
As an ex Ladbrokes employee I can see where you’re coming from.
But if they accept your wager they are committed - although there are maximum payout rules etc.
With Football Index they have dramatically moved the goalposts by issuing new shares etc.
A totally different ball game to the one ‘offered’ by the high street bookies.
However it’s all a mugs game - as I can testify having been witness to some startling wins & losses.
RE: NFFC Financial Talk - wassy04 - 10-03-2021
(10-03-2021, 02:20 PM)ThePromisedLand Wrote: As an ex Ladbrokes employee I can see where you’re coming from.
But if they accept your wager they are committed - although there are maximum payout rules etc.
With Football Index they have dramatically moved the goalposts by issuing new shares etc.
A totally different ball game to the one ‘offered’ by the high street bookies.
However it’s all a mugs game - as I can testify having been witness to some startling wins & losses.
It's a pretty shady industry, actually really annoys me how unregulated it is and that you can have T&Cs that essentially say you can refuse to pay out.
There's loads of people that have made legitimate wins that bookies refuse for the smallest reasons that were not the fault of the punter.
RE: NFFC Financial Talk - Jean_claude_killy - 10-03-2021
(10-03-2021, 02:20 PM)ThePromisedLand Wrote: As an ex Ladbrokes employee I can see where you’re coming from.
But if they accept your wager they are committed - although there are maximum payout rules etc.
With Football Index they have dramatically moved the goalposts by issuing new shares etc.
A totally different ball game to the one ‘offered’ by the high street bookies.
However it’s all a mugs game - as I can testify having been witness to some startling wins & losses.
What Football Index are attempting to do is poles apart from traditional betting.
To start with they are not and never have accepted traditional wagers; you buy a position in certain players and then, hopefully, sell that position on to someone else at an increased price for a profit - it is supposed to work like the stock market does with buying and selling shares.
The problem with the Football Index model is one of lack of liquidity; for someone wanting to sell a share, there needs to be someone wanting to buy that share, and therein lies the problem, there is a lack of buyers.
Anyone who expects FI to buy the shares back is seriously deluded.
The course of action they are taking is one of two options open to them; they can try and stimulate the market with new shares or let the whole thing collapse and watch people lose a lot of money.
Anyone who did the most basic of due diligence on this venture would not have gone anywhere near it.
RE: NFFC Financial Talk - Knocker West - 11-03-2021
New accounts out
https://find-and-update.company-information.service.gov.uk/company/01630402/filing-history