Soccer stock market Football INDEX raises £500,000 in just two weeks

Joe Hall
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Football INDEX allows fans to bet on the future success of players (Source: (Source: YouTube/footballINDEX))

The first "football stock exchange", Football INDEX, has raised £500,000 investment as part of a crowdfunding fundraise.

Football INDEX, launched by Jersey-based gambling operator BetIndex Ltd, launched six months ago and currently boasts of 13,000 active traders who have deposited £800,000 in six months.

The platform operates like a futures market in allowing fans to bet on the future success of players by building portfolios of those they believe will perform well.

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Football INDEX is aiming to raise £800,000 from its crowdfunding efforts by the end of May.

Over 200 people have invested in the site on crowdfunding site Seedrs.

"Football INDEX is great for trading," said financial analyst Phil Mochan who invested £20,000 in the site. "But I can see its potential as a business, providing a way for people to have a stake in the sport they love.

"It's one of those light bulb ideas that just makes so much sense, which is why I was so keen to invest."