Football Index is a betting platform on which you can place a bet (which is called a “share”) in exchange for a chance to win a daily payout (which is called a “dividend”). As the bet is a fixed odds bet, the price of each footballer is published that reflects the levels of demand for buying or selling each footballer (the “published price”).
How Do I Buy?
You may buy up to a maximum of 100 shares for each footballer at the published price in a single transaction but you can do as many transactions as you wish. Once shares are purchased they automatically go into your portfolio. Here you can track the performance of your shares and hopefully find that they’re going up!
There is also the option to accept price movements which allows you to complete your purchase even if the price moves during your transaction. If you leave this feature turned off you will be alerted when prices change during your purchase.
How Do I Sell?
You may be able to cash out your bet early by clicking “sell” on the shares you hold in your portfolio (up to a maximum of 100 shares per transaction). You are able to sell your shares in two ways (both of which a 2% commission fee is taken and a minimum of 1p from each completed sale transaction).
Option 1: Sell Queue
You are able to cash out your bet by clicking “join sell queue” on the shares you want to place in a queue for other users to buy (“sell order”).
Just like on eBay, sales are not instant and depend on another trader wishing to buy your shares.
The bet is cashed out subject to finding another user who will buy your sell order. A price is not guaranteed and your shares will be sold at the published price at which the sell order was completed rather than when the sell order was placed.
However, you may set the lowest price at which you accept another user to buy your sell order (“reserve price”) and may cancel your sell order at any time. If the price of any share drops below your reserve price, a process runs that regularly checks and attempts to cancel your sell orders as soon as feasibly possible.
Option 2: Instant Sell
A sell price is published at which you may cash out your bet early by clicking “instant sell” on the shares that you want to sell instantly. When you confirm your instant sell, you cash out your bet and the money is deposited into your Football Index account immediately.
The difference between the buy price and the sell price is the “spread”. The instant sell price will be the lower end of the spread. The spread may vary, especially in relation to share prices that are experiencing high levels of volatility. In certain circumstances, Football Index reserves the right to suspend instant sell, temporarily or otherwise, for a specific footballer or all footballers.
Start Trading at Football Index
Football Index is the trading platform that you will use to buy and sell football players. Football Index allows you to invest in individual players, earn dividends, trade players and sell at a profit based on their real life form.