Coronavirus has brought soccer to its knees across the globe, with the Premier League currently on hold. Players are fearful of returning, clubs are concerned with balancing the books, and bookmakers are missing out on an enormous slice of their income.
With this situation in mind, fans have turned to other sources of entertainment. So, there is, indeed, one platform that seems to be going from strength to strength: Football Index.
A sort of game, slash virtual football investment platform, is making friends gather around stocks, prospects, and other concepts.
Still, for someone new, what is football index exactly? As the Bundesliga table returned this weekend, we take a look at what this new business has to offer.
So, what is Football Index?
Stock markets have been around since way back in the sixteen hundreds. Football Index has copied that approach and applied it to the most-watched sport in the world: soccer. The site launched in 2015 and is a form of gambling; therefore, it isn’t licensed as an official stock exchange.
Like with any form of trading, the overall intention is to make money on your investments. How to make money on Football Index?
You simply invest in a player and you see how he performs throughout the season: if he scores you score, if he flops… well, so will your expectations of gathering profits.
How does Football Index work?
Football Index allows you to buy shares in soccer players. The market price is dictated by how popular a player is. The more people that buy the player, the more the price increases and the more money you earn. In simple terms, buy low and sell high.
There are other ways how to make money on Football Index, which is through dividend wins. There are three different types of which most players are eligible to win. Two are based on how a player performs on the pitch and the other is based on media news. They’re awarded as follows:
Media – based on who features in the most news stories on any given day
Game day – awarded every time a day with games in major leagues/competitions takes place based on a number of stats
In-play – only eligible for 30 days from date of purchase. Get paid for goals, assists or clean sheets.
How does Football Index compare to other betting sites?
With traditional sports betting your stake would be placed on a particular event e.g. a match. As a rule, during that match, you’d be watching with increased interest but once the match is over so is your bet.
You’ve either won or lost. Where Football Index is unique in that it maintains your attention over an extended period.
In some instances, you will pick a player that decreases in value. Ordinarily, this would be a ‘lost’ bet. That’s not the case on Football Index. You can bide your time and wait for an increase to come or you can sell at a loss giving you the opportunity to trade into another player.
Whilst Adam Cole, the founder of the Football Index, sees the platform as a rival to traditional gambling we disagree. A more likely scenario is that Football Index falls into place alongside the more established betting sites.
How big is Football Index?
In two words? Pretty big. It’s getting bigger too. Reports as recent as April 2020 show that there are over 100k active users with over half a million people who have used the platform since it’s launch five years ago.
The traders using it aren’t afraid to throw money around either with numerous instances of people holding six-figure portfolios.
It’s active across social media too and has a pretty impressive reach with 70k followers across Twitter and Instagram.
So, should you invest in Football Index?
Football Index is going to be around for a long time. You don’t have 100k people regularly investing without having a serious amount of credibility. It is likely to be more successful than the Newcastle United takeover.
There is one common complaint from new traders though. That’s relating to the variance between buy prices and sell prices, which is known as the spread. In the coming weeks, that ‘issue’ will be solved with the introduction of order books.
When they land, it’s expected that new and existing traders will be willing to invest more money and the platform could explode well beyond its current position. Still, even if Football Index is not a gambling website, you should invest your money responsibly.