Founder Adam Cole started Electric Video, which dealt with pre-recorded video and DVD which was later sold to
Richard Desmond. He also founded MyVillage network, a website that lists local restaurants, bars and services in the UK. The stock exchange cap called 'The Footie' started with the launch of the platform on 2 October 2015 with a base value of 1,000 points. As of 3 April 2020, The Footie had grown to 159,207. Trader portfolios ranged from £10 to over £1,000,000, and 2% was charged as commission on sales. In January 2018, Football Index reached 100k users, and surpassed half a million traders in late 2019. The company was owned by Index Labs, formerly Fame Ventures, who held the software license for Football Index. During the 2018/2019 football season, over £321 million was traded on the platform, and over £4.3 million was paid out to traders through dividends. In 2020, Football Index finalised a partnership with
Nasdaq, to use Nasdaq's technology to power an order books system. In January 2021, Mike Bohan was appointed as the CEO.
Collapse Changes were announced in March 2021 including the issue of new shares and the reduction of the "dividend" payout from a maximum of 33p per share to 6p per share. This reduced the value of all open bets, that were purchased at prices based on the higher payouts. This resulted in huge uproar from users who saw their portfolio valuation drop from 50% – 90%. Football Index suspended trading on its platform on 11 March 2021. Within hours parent company BetIndex had gone into administration and both the UK's
Gambling Commission and the Jersey Gambling Commission suspended its licence. == Advertising and marketing ==