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Football Index FAQs

You can find out more information about the Leigh Day investigation into Football Index in our FAQ section.

Frequently Asked Questions - Football Index Investigation

We are investigating events leading up to the collapse of Football Index and its consequent administration. The purpose of the investigation is to determine whether there are any viable legal claims which might assist those who have contacted us, in recovering monies lost.

We are very concerned by the allegations raised about Football Index and the significant losses that users of the platform have sustained. We are further concerned as to what the Gambling Commission and the Financial Conduct Authority understood about Football Index’s activities and when and whether their response was adequate.

At present, we are awaiting the outcome of the liquidation process in respect of BetIndex Ltd (which is being handled by Begbies Traynor, the company’s liquidators) before reviewing whether there are any legal claims which can be pursued on behalf of our full client group. However, we continue to assist our clients in respect of certain smaller claims arising from the collapse of BetIndex and, if and when appropriate, in seeking redress from the Government for our clients’ losses. 

The purpose of the investigation is to determine whether there are viable legal claims against the companies and individuals involved. This is a complex case.

The purpose of our investigation has essentially focused on four key issues:

  • What legal arguments / remedies might be available to the group?
  • Who is the correct defendant(s)? This question is not straightforward given the number of individuals and corporate entities involved in the corporate structure of the Football Index.
  • If there are legal claims, does the defendant(s) have sufficient assets to meet any successful claims against it?

The role of the Gambling Commission and the Financial Conduct Authority.

The Leigh Day team is led by Nichola Marshall and Paula Lee. They are both partners at Leigh Day with expertise in group actions, gambling harm and consumer law.

Leigh Day has assembled a team including senior and junior barristers from leading sets of chambers specialising in financial, consumer and insolvency litigation, who are advising on the merits of viable claims.

Where a large number of people have claims against the same defendant arising out of the same set of circumstances, the most cost-effective way of bringing a legal claim is for the individuals to join forces and progress as a group.

If, following the investigation, we decide that there is a viable legal action, the claims will likely be brought as a group claim (which can also be referred to as a class action). If there are any further claims that could be brought individually, we will advise accordingly.

Currently, anyone who used the Football Index platform and who has suffered losses as a result of its collapse is eligible to join the investigation. If you join the investigation, you will become a client of the firm.

Eligibility may change in due course depending on the outcome of the investigation into possible viable legal claims. If so, we will provide a further update.

We have received a number of enquiries asking what kind of ‘losses’ might be recoverable.  We are not able to provide specific or individual advice at this stage.  The reason for this is that financial losses and the rules which apply to their recovery will differ depending on which cause(s) of action apply to each personal situation. However, we have now obtained details from a large number of our clients relating to the value of their stakes, open bets, deposits and withdrawals. This has helped us to gain an understanding of the likely size of a potential group claim and the recoverable assets that would need to be identified in order for a claim to be viable.

Any successful claimant will be expected to evidence their losses, and it is for that reason that we advise individuals who wish to join the investigation to start putting together a file of your FI dealings, including dates where possible. As a minimum, we would want to see a record of all deposits and withdrawals, as well as the value of your portfolio at various given dates, in so far as possible. We would also like to see a few words about why you might have taken a particular course of action, for example “having seen/listened to/read [a particular advert/newspaper article/ podcast], I used my credit card to deposit £1,000 in September 2019”. Or, if you cashed-out your account just before BetIndex Limited went into administration, it would be helpful to have a few words setting out why you decided to do so.

Noting down now your reasons for why you did what you did when you did it, is important. If, any claims are pursued following our investigation, the litigation is likely to be lengthy. Memories fade and so it is helpful to record things now while they are fresh in your mind. We urge you not to convince yourself that you ‘won’t forget’ and to take the time to make a note now.

If you join the investigation, we may ask you in due course to complete questionnaires to provide the same information regarding your deposits and losses as we have requested from our existing client base.

We only require basic information from you in joining the investigation. If we reach the stage of advising that there are merits to pursue a viable legal action, we are likely to request more detailed information from clients at that stage.

If you have in your possession any information or evidence that you feel might be helpful to the wider claim, please do send it in to us at

Once you have completed the online form, if you are eligible to become a client of the investigation, we will send you documents (normally within 7 days) which, when signed by you, will complete the process of you becoming a client.

We will then keep you updated by email as to developments.

Yes. The information you send us will only be shared with the legal team working on the investigation. We keep all your data in accordance with our privacy policy.

At the investigation stage, we will only write to you by email on the email address you have provided.

Leigh Day is carrying out its investigation on a no-win-no-fee basis. If, at the end of the investigation, our advice to our clients is that we cannot assist, they will not be charged.

If there are viable legal claims which we believe we can pursue successfully then we will invite you to enter into a further funding agreement with us. This is also likely to be a no-win-no-fee agreement.

There are too many variables for us to give an accurate prediction of the timescale to conclude this matter to a satisfactory outcome.

As explained above, we are currently awaiting the outcome of the liquidation process before considering whether there are any viable claims to pursue on behalf of our full client group. We understand that the liquidation process may take around 12-18 months to conclude, which would take us to around 2023/24

As referred to above, this does not mean that we will not be taking any action in the meantime. We are investigating certain smaller claims and will remain in a position to respond to any change which means that there are viable claims for us to pursue at an earlier stage.

We do not know what the outcome is likely to be. We will, however, keep our clients regularly updated and advised of their options throughout.

We want to be clear from the outset, in order to manage expectations, that at the conclusion of the investigation, it is a possibility that we may have to advise that legal action on behalf of the full client group is not possible. However, please rest assured that we will do all that we can to assist all clients in recovering their losses in so far as possible, via a range of avenues.

If you bought shares in FI via Seedrs, you are currently eligible to sign up to the investigation and become a client if you wish.

In the event viable claims are pursued by us, each claim is likely to have its own qualifying criteria to join, by which time we will know if buying shares via Seedrs is a bar to bringing a claim. What we can say at this stage is that it is not a bar to joining the investigation.

BetIndex Ltd’s liquidation process is relevant to our investigation and may, at present, offer the most straightforward route for Football Index users to recover at least some part of their losses.

We are adopting a watching brief in respect of the liquidation process at present, while continuing to monitor any viable ‘big claim’ we may be able to pursue separately on behalf of our client group. We continue to assist our clients in respect of certain smaller claims arising from the collapse of Football Index and, if and when appropriate, in seeking redress from the Government for our clients’ losses.

Following an Order of the Royal Court of Jersey in November 2021, BetIndex Ltd is being wound up in Jersey, with Begbies Traynor appointed as liquidators. The company voluntary agreement (or ‘CVA’) which had initially been proposed by Begbies Traynor as administrators did not succeed in rescuing the company, as had been hoped.

The role of Begbies Traynor as liquidators is now to maximise the ‘pot’ of money available to BetIndex’s creditors. This may include claims against company directors (most likely directors of either BetIndex or its parent company, Index Labs Ltd) where it can be established that they personally breached their duties and/or provisions of insolvency law. It is unclear at present to what extent creditors will be able to recover their Football Index losses via the liquidation process.

We are not involved in the liquidation process as such, but we are continuing to keep a watchful eye on the process and to liaise with Begbies Traynor where it is appropriate and in our clients’ interests.

Any questions about the liquidation process should be directed to Begbies Traynor.


Join the Football Index Investigation