Court documents have revealed that Football Index operator BetIndex decided to go into administration on 5 March 2021, prior to the dividend change on 8 March 2021.
BetIndex announced that it would enter administration one week later, on 11 March 2021. On the dates from 8-11 March, however, the platform was open, with players able to place bets.
Other documents released ahead of the hearing today include emails from customers who had placed bets after 8 March, including one who said he placed bets worth £2,000 on 11 March.
Minutes of the 5 March BetIndex board meeting, which were included in the court documents, also revealed the board’s explanation for the decision to go into administration in the UK and not in Jersey, where the business is based.
It was outlined during the meeting that Jersey does not have the same strict administration conditions as the UK.
“The options for a Jersey company are far more limited than a UK company,” read the minutes.
“Jersey processes do exist ho..