The UK government is going to set up an independent review into the Football Index collapse. The plan for the review is welcomed by the Betting and Gaming Council (BGC).
A spokesperson for the Betting and Gaming Council said: “We strongly welcome this independent review of the regulation of Football Index, up to the point where its operator’s licence was suspended in March.
“Following the suspension of BetIndex Ltd’s operating licence by the Gambling Commission last month, we immediately suspended their membership of the BGC.
“We have been concerned about reports that the Gambling Commission was made aware of issues surrounding Football Index’s business model as early as the start of 2020, something the BGC was not made aware of at the time.
“The top priority remains consumer welfare and we hope that the inquiry leads to vital lessons being learned for the future.”