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Gambling regulation
P002656 - 14 April 2021
Presentations: 1
Presenters: 1
At a Glance
This petition concerning gambling regulation was presented to Parliament once by 1 MP.
Issue Summary
The petition addresses significant concerns about the collapse of Football Index, a betting firm that operated as a "football stock market", leaving customers with over £90 million trapped in the company after substantial losses.
Action Requested
The House of Commons is urged to call for a full independent public inquiry into this scandal to ensure adequate gambling regulation and consumer protection.
Key Facts
- Customers collectively have over £90 million trapped in Football Index.
- Average customer loss is around £3,000.
- The company was suspended by the Gambling Commission and entered administration shortly after "minting" new shares and decreasing dividend payments by 82%.
- Concerns exist that Football Index operated like a pyramid scheme and was previously admonished by the Advertising Standards Authority in 2019 for misleading advertising.
Presentation Timeline
MPs presented this petition on the following dates. Each card shows the presenters and any recorded remarks.
Presented
14 April 2021
Patricia Gibson
SNP
North Ayrshire and Arran
The petition states:
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