Company is following procedures “to seek the best outcome for customers”
The United Kingdom Gambling Commission has announced its decision to suspend the operating licence of BetIndex Limited (t/a Football Index) pursuant to section 118(2) of the Gambling Act 2005.
In a press release, UKGC, says: “The suspension follows an ongoing section 116 review into the operator, as we had concerns activities may have been carried on in purported reliance on the licence, but not in accordance with a condition of the licence, and that Football Index may not be suitable to carry on with licensed activities.
“We have made it clear to the operator that as the investigation progresses, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them. Football Index can be contacted via their website and as part of our review we continue to work closely with colleagues from the Jersey Gambling Commission.”
The UK Gambling Commission announcement followed on news that Football Index operator BetIndex was about to suspend its platform and enter administration, issuing a statement: “The board of BetIndex Limited has consulted with external legal and financial advisors, and the [GB] and Jersey Gambling Commissions. The decision has been made to suspend the platform. We are pursuing a restructuring arrangement to be agreed with our stakeholders including, most importantly, our community.”BetIndex added that it was following preparations through an insolvency administration, “to seek the best outcome for customers with the goal of continuing the platform in a restructured form.”
