Straight after I posted last week’s update expressing concern about the behaviour of Football Index, I found I had received several emails from people I know in the betting world, including the publisher of our esteemed organ, drawing my attention to an article written by a very well known marketeer and trader. A few days later The Guardian published an article that was also extremely critical of the Index.
I’ve read all of the above mentioned material. I can’t say I agree with everything in them, certainly the suggestion that it’s some sort of Ponzi scheme is way way off. But they do raise several very real concerns.
As I’ve said for months that Football Index has its issues, as the trial has gone on I’ve said it has Major Issues in how it’s being run but I really don’t think there’s anything shady going on. I think it’s almost entirely down to over ambition and poor management.
I received this week’s newsletter from F.I.I. yesterday. They also play down all the criticism, in fact I think they downplayed it a little too much for my taste. There was a little too much “Everything’s going to be fine, this is a great time to invest” for me. They are too quick to blame everything on people bashing Football Index purely to defend and protect Betfair for their own business reasons. I don’t really buy that either. Betfair trading is so different to this.
The truth is that Football Index is a very decent business model but has been poorly run over the last year or so and it remains to be seen if the damage done, and the customers lost, can be reversed successfully by the new boss.
I’ve spent £4,018.25 on the portfolio, it’s currently worth £1,748.83, made £750.12 in sales, and been paid £373.42 in dividends. Meaning an On Paper loss of £1,145.88
My brow remains furrowed, my eyes resemble those of a Quahogian gentleman spotting some suspicious poultry
The slightly positive signs mentioned on the last update have to be toned down again this time.
The F.I.I. service guys are taking a break during early January, they did notify members in plenty of time that there would not be any newsletters and subscription payments would not be collected during their “Holiday”
I don’t really have a problem with them doing that, there’s always the Telegram group to contact people and that’s been worth keeping an eye on, even if you don’t want to comment yourself you can see what others are saying. The owners have been on there over the last few days too, even though they are offically on a break.
I usually wait for the newsletter to arrive before I comment on anything to do with Football Index itself, I like to see how this service interprets the information in the offical announcements and combine that with my own understanding of them.
But this time I’m not going to wait for them to come back and comment, Football Index have said they are dropping the In Play Dividends as from early February. They say that they are going to redirect the funds allocated for IPDs into new initiatives to encourage healthier trading environment and put off traders from “refreshing” shareholdings and the effect that has on prices. To be fair, In Play Dividends don’t make up that much of what income we have had, and they expire after 30 days of ownership anyway, but any erosion of what little positive movement our account has is cause for some concern.
There was also talk of realigning priorities etc, the NASDAQ plan had its can kcked further down the road. They have said that new initiatives will replace the In Play Dividends. So we need to see what they are before totally condemning them, but I really don’t like this constant tinkering with rules and promises of future reviews and rejigs etc.
I find myself narrowing my eyes and furrowing the brow a little more every time there’s a new announcement from Football Index.
I feel I need to clarify that my brow remains smooth as silk with regards to the integrity of the guys at Football Index Intelligence, it’s the Index itself that has my poor forehead as crinkly as Keith Richards’ pants plums.
I’ve stated many times, my concern is with the platform not these “Tipsters” but the way things are going, I cannot see this being a viable investment.
I’ve said I’ll keep the trial going until the end of the season and I will. No final decisons made until then. But, and this is a capital BUT, I would 100% reiterate our usual advice about not signing up to services until we give the final verdict.
Current Figures are, I’ve spent £4,018 on our portfolio, it’s currently valued at £1945.16, I’ve made £742.48 in sales, and been paid £347.53 in dividends. Meaning a current On Paper loss of £983.
A third losing week on the bounce for this new service. The excellent start we made seems to be a fading memory now, as the bank has gone into negative territory.
It is disappointing to note that the “Full Results” on the sales page have still not been updated since the downturn began, the very profitable first week was recorded but nothing has been updated since the 6th of December.
Still, we are barely a month into a 3 Month full trial so no decision will be made yet.
P/L -5.95pts (-£59.50 at our standard £10 a point)
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A slight bounce back in share prices over the Christmas period has been a rare bit of good news for this service.
I’m afraid this is just going to be a repeat of pretty much every update I’ve given on this service; I like them, I think they know what they’re doing and they are good at it, we’re making decent money on dividends, the Index itself is letting customers down with poor decisions and even poorer methods of implementing those decisions, we’re losing money due to poor trading conditions and trader confidence.
Things do finally seem to be turning a little though, after a few really tough weeks the prices finally seemed to head the right way.
The figures are still pretty ugly but I do think there is reason to be a bit less glum about its prospects over the next few months, we shall see.
I’ve spent £4,018.25 on purchases, the portfolio is currently valued at £2,030.36, I’ve made £699.64 in sales, and been paid £327.87 in dividends.
Meaning we have an “On Paper” loss of £960.38. As I’ve tried to explain before, this figure can’t really be called a loss as it is more akin to being the value of Current In-Play Bets, but we must also bear in mind that we would have paid close on £300 in subs so far
Although it seems a long way down a very dark hole, we own so many shares in lots of different players and if/when Football Index do sort themselves out (new CEO on the way etc) I don’t think it would take all that long to make the figures look more respectable. We jumped over £200 up in the last week after a fairly small overall increase in our prices.
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Unfortunately Goal King haven’t been able to keep up their great start to the trial.
You may remember from my first update, they recorded a brilliant 7 out of 8 winning bets over their first week of operation, making a staggering 22 points of profit. The following few weeks haven’t been anywhere near as good.
It’s not a disaster as we’ve only really just started the trial and we are still (just) in profit, but we could certainly do with getting closer to that epic first week again once in a while
The current figures are:
AV Price 1.76
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