I’ve always enjoyed a bet. Sometimes I do pretty well and during my recent fundraising, I actually raised quite a bit for charity from betting. I often use it to give me an interest in a match which I otherwise wouldn’t care about. The risks with gambling are relatively obvious though, the outcome is beyond your control and your money could be gone in no time! A few months back I discovered Football Index, which really caught my interest. As time passed, more of a buzz (pardon the pun – this may make sense later) began around Football Index. I know a number of people on Twitter who play, creating a good community to chat about all things football. As you’re not really in competition with each other, people can share ideas to help everyone be successful.
Football Index: My new obsession
What is Football Index? Well, in short, it is the sporting equivalent of the share index. You “buy” futures (or shares) in football players and you make (or lose) money on the value of those futures. As with normal share trading, the price can fluctuate based on the volume of shares bought or sold by other traders. In Football Index, the future price will fluctuate by 1p for every 100 futures purchased. What might peak peoples interest so that they buy futures? Players doing well, or expected to do well – or perhaps media coverage, such as a tasty transfer rumour.
When rumours start flying about players changing clubs, people snap up futures in that player. Again as with shares, you’re looking to buy low and sell high. If you are savvy, you can get in nice and early on a player before he peaks. For example, if you believe that a particular player might move to a new club in the summer – you can back your belief and buy some futures. If the news starts to cover a possible transfer, more people may buy in and the price can shoot up. This can also lead to an opportunity to win the daily Buzz prize.
Another way to earn money is to get the daily buzz win. The combined media coverage from selected news outlets (Sky Sports, BBC etc) creates a Football Index buzz score. The player with the highest buzz score at the end of the day awards those who have futures in that player with 5p per future owned (terms apply). An example might be a high profile transfer rumour. Let’s say Ronaldo was set to leave Real Madrid to head to England. This would obviously get a LOT of media coverage. If you had 100 futures in Ronaldo and he topped the Buzz win chart, you could earn an extra £5 for every day that he won the Football Index Buzz prize.
If you have done everything correctly, you could be in line for tidy win fall from the future price raising AND that player then hitting one or more buzz wins. It is, however, important to keep a close eye on things, prices can drop as quickly as they can rise.
Seeing as how you are buying and selling futures or shares, you are basically trading. Where the skill comes in, is to know when to buy and how many – but also when to sell. In order to sell your futures, someone needs to want to buy them. If you see the price dropping sharply and you want to jump ship, you may be a touch too late. At this point many others will likely have seen the same thing, everyone is trying to sell and no-one is buying.
There is a way around this if you are willing to take a small loss, with the “quick sell”. Consider it the cash out of the Football Index world. You will be offered a price that is less than the worth of the futures at that time in order to get rid of them. If you have already made a nice profit, perhaps this might not be an issue. If you have not made any money, this is likely to dent your overall investment portfolio a little. When selling futures you will incur a small fee anyway (2%) which is how Football Index make their money.
The long game
You can, of course, ride out the storm. Prices will fluctuate and sometimes may dive before they soar. The bold investor will consider buying up more shares at that point if they truly believe that the player is going to be worth more. I have 75 futures of a player who since I bought him, has decreased in value by 16p per future. I’m reasonably confident, as are those I speak with on Twitter, that he will move to a new club in the summer. This should trigger a hike in value and hopefully allow me to turn a tidy profit.
The same can be said for longer term investments at lower prices if a younger player, for example, is available at a low price. I’ve recently “invested” in someone who I feel may not provide a payoff for a few months, but the starting price was low enough to not represent a large risk. You’re putting your own money on the line here, so each decision is a risk. Football Index allows you to make it more of a calculated risk.
A good thing about Football Index is that you can essentially “try before you buy”. They allow you play for 7 days “risk free” by offering to refund any money you have spent on Football Index during that period, up to £500. (Terms apply). You might play for a week and find that it’s really not for you if so, withdraw your money and off you go.
I also found a little hack to earn some free money too, thanks to TopCashBack, a website I wrote a blog post about earlier this year. This will allow you to earn up to £40 cashback if you play beyond the 7 day trial. There is also a referral scheme that rewards you and the new user with £10 credit to invest, again terms apply.
It’s my belief that Football Index will only grow in the coming months and beyond. It’s a different, more involved take on gambling. You still put your money on the line, you can still lose – but you feel more involved in the experience. Most people would want some form of control in the outcome of their investment. If I was considering whether to buy futures in Football Index, I would see it as a worthwhile investment.
Please, always bet/gamble/trade responsibly and only invest what you can afford to lose. Gam Care are available should you feel that you need assistance.Follow