FootballIndex
Has any one used football index? It advertises its self as a futures market for football players (you buy a contract on a player and based on performance and news flow the contract is worth more or less). I justwondered if its a true market with Football index only taking commission or if your betting against the house when you buy the contract.
"Every Virtual Share in existence is a fixed odds bet that has been issued by us at whatever the purchase price was at the time of issue. We receive all that issue price as gross profit.
From Gross Profit we deduct dividend payouts that will be due on that Share over time - an estimated 20%.
15% Gambling Tax is due only on 'closed bets' (once a customer has sold his share and no longer holds it as an open bet) and where the customer 'loses' (ie sells his 'bet' for less than he bought it for). We estimate that no more than 5% gambling tax will be due in any month on Shares issued, as shares are generally held for a significant period and it's been very rare to date that they have been sold for less than the purchase price.
It's important to point out that some shares purchased by Users have been 'pre-issued' and are currently held by another player, consequently the selling player receives the sale price and we receive only 2% trading commission. We only 'issue a new share' in response to 'excess demand' for that footballer (rather than excess supply).
During the period of our Test Campaign 71% of Shares purchased were issued directly by us and were not offered for sale by Users in the market."
From Gross Profit we deduct dividend payouts that will be due on that Share over time - an estimated 20%.
15% Gambling Tax is due only on 'closed bets' (once a customer has sold his share and no longer holds it as an open bet) and where the customer 'loses' (ie sells his 'bet' for less than he bought it for). We estimate that no more than 5% gambling tax will be due in any month on Shares issued, as shares are generally held for a significant period and it's been very rare to date that they have been sold for less than the purchase price.
It's important to point out that some shares purchased by Users have been 'pre-issued' and are currently held by another player, consequently the selling player receives the sale price and we receive only 2% trading commission. We only 'issue a new share' in response to 'excess demand' for that footballer (rather than excess supply).
During the period of our Test Campaign 71% of Shares purchased were issued directly by us and were not offered for sale by Users in the market."
Thanks for finding that, their FAQ makes it sound a lot more like a free market. Thats incredibly disapointing I wanted a true exchange, not prices set by the house. They should just seed the market then let each person underwrite the options themselves and try and sell them. Prehaps thats what they are aiming at with roughly 30% of shares trading from one user to another. If they create new shares in response to demand though they are diluting every one elses holdings. This will prevent appreciation of shares and possibly cause their value to fall.Trading96 wrote: ↑Fri Aug 11, 2017 9:29 am"Every Virtual Share in existence is a fixed odds bet that has been issued by us at whatever the purchase price was at the time of issue. We receive all that issue price as gross profit.
From Gross Profit we deduct dividend payouts that will be due on that Share over time - an estimated 20%.
15% Gambling Tax is due only on 'closed bets' (once a customer has sold his share and no longer holds it as an open bet) and where the customer 'loses' (ie sells his 'bet' for less than he bought it for). We estimate that no more than 5% gambling tax will be due in any month on Shares issued, as shares are generally held for a significant period and it's been very rare to date that they have been sold for less than the purchase price.
It's important to point out that some shares purchased by Users have been 'pre-issued' and are currently held by another player, consequently the selling player receives the sale price and we receive only 2% trading commission. We only 'issue a new share' in response to 'excess demand' for that footballer (rather than excess supply).
During the period of our Test Campaign 71% of Shares purchased were issued directly by us and were not offered for sale by Users in the market."
Ive been waiting for something like a player exchange for ages, Buabook looked promising but that closed its doors this season. Theres still a £500 bonus on offer so Ill sign up and see what Its like when I get the time and report back.
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- Joined: Thu Apr 14, 2016 7:01 am
LIstening to the latest Football Index Guide Podcast they are intending to move to an exchange based order book and leave the pricing to the trading public although no timescale. Now if Betangel automation could be used on Football Index that would be most useful for me!