Football Index operator BetIndex’s insolvency practitioner Begbies Traynor, has started processing consumer claims against the firm, which went into administration on March 26.
Begbies Traynor notified Football Index customers on Wednesday that it had started registering lawsuits against the insolvent company, and that impacted customers needed to fill out an online form.
Begbies Traynor is expected to carry out all statutory roles and responsibilities bound by the UK’s Insolvency Code of Ethics as BetIndex’s preferred practitioner, ensuring that all prospective claimants will file their claims.
All users, including those who self-excluded on Gamstop, have access to Football Index’s claims process.
“Submitting a claim does not mean that the claim is accepted; the validity of claims will be adjudicated upon in due course,” the practitioner stressed.
No indication of pay-out conditions
Begbies Traynor did not include any further detail on how it will evaluate consumer cases or how it will determine payout conditions.
Following the price crash of the operator’s stock exchange in March, which saw consumers losing thousands of pounds of player prices, Football Index’s angry customers have protested that they are owed amounts of between £90-100 million in reimbursement.
Leigh Day, a London law firm representing clients, has started assessing legal action against the UK Gambling Commission (UKGC) for its incompetence in awarding Football Index its sports betting licence.
The All Party Parliamentary Group for Gambling Related Harm (GRH APPG) has continued to press for an unbiased investigation into the Football Index fiasco by the DCMS.
The Gambling Commission has been widely chastised for approving a firm that has been compared to a “Ponzi Scheme.”