Asked by: Keir Mather (Labour - Selby and Ainsty)
Question to the Department for Digital, Culture, Media & Sport:
To ask the Secretary of State for Culture, Media and Sport, if her Department will make an assessment of the potential merits of offering financial compensation to people affected by the collapse of BetIndex.
Answered by Stuart Andrew - Parliamentary Under Secretary of State (Department for Culture, Media and Sport)
The collapse of BetIndex Ltd, the operators of the novel gambling product Football Index, had a significant impact on former customers, and we recognise the frustration and anger that this has caused. As a result, the Government announced an Independent Review, conducted by Malcolm Sheehan KC, which looked at how the company had been regulated and identified lessons learned for various agencies. These recommendations have since been implemented.
Company liquidation proceedings are ongoing, and former customers will be considered among the creditors as company assets are divided.