Elite Fans in Nigeria Want to Trade on Football Index - How to Register [Market Research Study 2020]

Elite fans in Nigeria demand for a football stock market like the UK Football Index, where they can trade and make money. 

This class of fans believe Football Index is a more rational platform to apply your football knowledge than sport betting. They say, unlike sports betting, you are more likely to earn dividend than to loose your entire trading capital in one go, if you understand football dynamics. 

So who are the Elite Fans? 

Football fans who are graduates of teritary institutions or have traveled abroad and currently earn an average income of N100, 000 or above per month are regarded as elite fans. Estimated to be about 20 million out of the 50 million football fans in Nigeria. 

What is Football Index

Football Index is a kind of a virtual stock market where fans Buy and Sell shares in the world’s top players to make a profit with your football knowledge. Get daily payouts called Dividends - when your footballers score or get assists, and when they trend in the media. Like the stock market, your shares can rise or fall in value. You don’t pay tax on the money you make.

Difference between the Stock Exchange and Football Index

The Stock Exchange is the traditional stock market where companies' Shares are listed and traded. It is an investment option to make an investor a stakeholder (a part owner of a company). The stock market is licensed and regulated by the central bank of Nigeria. 

On the other hand, Football Index is the place to buy and sell Shares in footballers for real money... licensed and regulated by the Jersey Gambling Commission and the UK Gambling Commission. This is a betting platform and should not be viewed or regarded as an investment option. 

The Difference Between Football Index and Sports Betting

The platform acts as a microcosm of the stock market and allows causal fans and gamblers, as well as expert traders, to sell players at a profit. Fans buy units of soccer players, known as ‘Futures’, to build their portfolios.

Football Index aims to disrupt the traditional sports betting market, moving away from the linear, single outcome model used widely. Instead, a multifaceted and constantly shifting ecosystem with multiple possibilities is being proposed.

Our Survey and Findings

FAQ: How Can we register and start trading on Football Index from Nigeria? 

Following our introductory post on Football Index and the football stock market, we received hundreds of inquiries of interested fans who wanted to be involved.

These inquiries set us off at GreenHunters Sports International to conduct a nationwide market survey as to ascertain the interest level in Nigeria. 

We sent out 250,000 survey forms and received 110,000 respondents from (West: Lagos, Ogun and Oyo); (Mid-West: Edo, Delta, Ebony); (North: Abuja, Kaduna, Kano) (Middle Belt: Jos, Nasarawa, Benue), (South: Rivers, Cross River, Akwa Ibom) and (East: Enugu, Imo, Anambra). 

The Demand 

76% of our entire respondents across Nigeria are not aware there's anything like football stock market. 

63% confused Football Index to the traditional stock market where clubs like Manchester United shares are listed and traded. 

Only 15% of the elite fans, mostly those who have traveled and spent considerable time in the UK or USA are aware of Football Index.

 Less than >1% are registered and have actively traded on the Index. 

So we concluded that the demand for a football stock market in Nigeria is still at the latent level. A lot of publicity is required to create the needed awareness and  knowledge of how it works so as to grow more active demand for the product. 

After introducing Football Index to our respondents, 

85% of the Elite fans reached were interested to trade on the index and immediately made inquiry on how to register. 

61% say they prefer trading to sports betting.  It is more fun to build portfolio and more sustainable return on your investment, than sports betting with incredible odds, where your money (stake) evaporates overnight. 

How do you Register and Start Trading? 

As it is at the time of writing this post, it is not possible to register with your Nigerian details. 

Football Index only allow people living in the UK 🇬🇧 or USA 🇺🇸

To register, you can only use the details of your trusted relatives or friends living in the UK or USA. He registers you and let you have the log in details, so you can start trading from Nigeria. 

This is not looking too legal, but I hear from some of our respondents that's the only way now.