Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Digital, Culture, Media and Sport, what steps his Department is taking to provide redress for consumers that have experienced investment losses due to (a) the collapse of BetIndex, the operators of Football Index, and (b) other regulatory failures.

The Government appreciates the significant impact that the collapse of the novel gambling product Football Index had on former customers. We recognise the frustration and anger that this situation has caused and the hardship that some people have suffered as a result. However, there is no compensation scheme for losses caused by a gambling firm ceasing to operate and the government does not think it would be appropriate to use public funds for these purposes. We are not aware of requests for non-financial redress or what form that might take.