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Written question asked by Bell Ribeiro-Addy (Labour) on Thursday, 19 December 2024, in the House of Commons. It was due for an answer on Wednesday, 8 January 2025 (named day). It was answered by Stephanie Peacock (Labour) on Wednesday, 8 January 2025 on behalf of the Department for Culture, Media and Sport.

Football Index: Compensation

Question

To ask the Secretary of State for Culture, Media and Sport, what steps her Department is taking to help secure redress for victims of the collapse of Football Index.

Answer

The collapse of BetIndex Ltd, the operators of the novel gambling product Football Index, had a significant impact on former customers, and we recognise that many people were affected, and that for some people financial losses were significant. The previous Government commissioned an Independent Review in June 2021, conducted by Malcom Sheehan KC and which reported in September 2021. The review looked at how the company had been regulated, and identified areas for improvement for the Financial Conduct Authority and the Gambling Commission. All recommendations of the report have since been implemented.

The previous Government concluded that it would not be appropriate for the Government to use public funds to provide compensation for those who had lost money through the collapse of Football Index and BetIndex. Whilst the Government strongly sympathises with all who were impacted, we do not think this decision should be reopened.

Secondary information

Type
Written question
Reference
21381
Session
2024-26
Related items
Football Index: Insolvency
Friday, 20 June 2025
Written questions
House of Commons
Subjects
Compensation Football Index
Link
View this Written question on www.parliament.uk