LESSONS must be learned from the collapse of a football gambling platform, according to a Barnsley MP.
Stephanie Peacock, who represents Barnsley East, is also the Shadow Minister for Gambling and recently spoke in a debate in Parliament on the demise of the Football Index.
It was a platform which encouraged users to employ the football know-how they had developed over the years in order to hold shares in up and coming players.
The product was criticised for having misrepresented itself as a trading platform when it was in fact gambling, and had its licence suspended in 2021.
Stephanie said: “The Football Index misrepresented itself as a trading platform rather than gambling. This was unfair to consumers, and led to hundreds of thousands of pounds being lost in some cases.
“I am pleased that the government committed to employing the recommendations of the Sheehan Review in full, which identified ways to prevent another similar incident from happening again.
“It is important that measures are introduced to keep consumers safe from harm, whilst allowing those who gamble responsibly to continue to do so.”
