In January of this year I took the plunge and decided to see what Football Index was all about. I can honestly say it is one of the best decisions I have made when it comes to what is technically gambling.
Prior to this I enjoyed traditional betting with the bookies; accumulators, both teams to score, first goal scorer, overs on corners, overs on cards etc. If there was a market for it, I’d give it a go sometimes mixing a few of them together to rack up the odds. Not extortionate amounts in terms of stake, just what I knew I could afford. Sometimes they were successful, sometimes they weren’t. But that’s how gambling goes.
This is where Football Index began to intrigue me. Throughout the Christmas period I was reading through the ins and outs of the platform. I was watching players prices rise and fall and trying to make heads or tails of it. I created a separate Twitter account from my personal one and began getting involved in the #FICommunity which I encourage everybody to do (just try to ignore the inevitable drama that tends to come with it).
I highly recommend doing this if you’re on the fence about it. Any questions you have, just type it on Twitter and include the hashtags “#FICommunity #FootballIndex”. The community is extremely active, and usually very very helpful. This is how I learnt about all the different ways of earning dividends, and discovering the scoring matrix for match days. Building my confidence with every interaction leading to me finally getting involved.
After a couple of weeks of trying to learn the ropes I opened an account and deposited a modest £50. I had no intention of chasing dividends, I was in it purely for the capital appreciation so I picked up young players who had been having a good season; Luka Jovic, Kai Havertz, Joshua Kimmich, Kylian Mbappe and Jadon Sancho.
Five solid players having great seasons, quite young and stacks and stacks of potential. Their prices soon began to rise and honestly this gave me a buzz. I felt like I was doing something right.
After a week I found myself depositing more money, another £480 to be precise. It was sitting in my bank and I wanted more shares in players. Would I have lumped this amount on a bet in a traditional bookie? Not. A. Chance. But for some reason, the Index felt safe, and in turn I was buying more futures of players from all over the place and everything continued to rise without me really having to do anything.
Since the beginning, I had created a spreadsheet where I could log the players I have bought, the amount of futures and the price I paid. Then also log their current price. I had a load of formulas in place to then calculate profit/loss and what the sell price would be after the 2% commission Football Index take on every sale. (will happily e-mail a template to anyone who wants it).
Cumulatively I have deposited £1,300 into Football Index. A lot to some and pennies to others that you may meet on the Index, but it is a fairly large amount to myself. I did this all within my first four months of being on the index. I had a diverse Portfolio of players and the majority of players were rising. I was lucky enough to get on the likes of Greenwood, Hudson-Odoi, Pepe, and Joao Felix before they really began to rise. But eventually I felt I’d need to sell in order to see the profit.
I would sell players when I felt they had hit their ceiling, I was often wrong and they would continue to rise after the sale, but it didn’t matter as I was still in profit. In turn I would reinvest the profit in other players, then rinse and repeat. It worked for me at the time and I was pleased with how it was going.
Eventually I came to the decision that whilst waiting on capital appreciation was making me money, there were other opportunities on the Index that I wanted to explore. Upon selling my whole Portfolio I had made a profit in just over seven months of 49.37%. To put that in terms of money, I had deposited £1,300 and after selling everything I had £2,000 in my Football Index account. I gladly withdrew £700.
Please find me a savings account or ISA that can do that!
Do’s and Don’ts
The best bits of advice I have received are;
- Not to look at this as gambling, but to try and treat it as a savings account. Although you do have the possibility of losing money (do not be fooled, there is always a possibility).
- Do not look at your profit/loss in terms of amount of money, but as a percentage.
- You have not made or lost any money, until you sell your shares. Until then it is a potential loss or a potential gain.
I plead with you, if you are new to the index PLEASE IGNORE THE TRENDING LISTS. Sometimes they have no rhyme or reason, and even if there is a reason for it the odds are they’re on the trending list due to the amount they have risen already. Will they continue to rise?
Fear of missing out (FOMO) is a thing. You see a player on the rise, he might have been on your radar for a while and you buy him instantly without thinking about it. Before you hit buy, seriously ask yourself if there is a reason you don’t have him already. Trust your gut and don’t panic buy. Sometimes it will prove you right, other times you’ll just have to grit your teeth as you miss out. For example over the Summer transfer window I had my eyes on Jack Clarke ahead of his move to Tottenham. He started to rise early on but I missed out on that rise, I felt he couldn’t sustain the growth as he wouldn’t get first team football and inevitable his priced dropped back down again. I was right, and relieved to have missed out. These experiences definitely help you learn.
I’m currently trialling a new way of making a profit on the Index which has shown some early promise, but involves a lot of research into players and keeping an eye on in-form players.