Payouts Can Start For Customers In Gambling Co.'s Collapse

Law360, London (June 8, 2021, 6:56 PM BST) -- Administrators can begin paying hundreds of thousands of customers whose funds with a soccer betting operator were frozen after the company collapsed earlier this year, sparking multiple investigations, a London judge said Tuesday.

Begbies Traynor Group can begin divvying up £3.2 million belonging to 280,000 customers of BetIndex Ltd. after the company's popular gambling platform collapsed in administration in March.

The Jersey-based company ran Football Index, a "stock market of football" where gamblers bought and sold "shares" in professional soccer players, earning a dividend payment on players' value.

Customers will be paid out as their accounts stood on March 26 after...

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