Goal & Assist Dividends
Thank you to everyone who has taken the time to give us feedback on our Goal & Assist Dividends trial.
It’s crucial that we gather information from our loyal traders when making decisions around new product features. This trial has been incredibly useful in achieving that. We want to act in the best long-term interests of the platform, build Football Index into the best product we can.
With that in mind, this is a quick update to clarify a couple of points that have been raised.
What was our rationale on introducing Goal & Assist Dividends?
We introduced this trial with a set of objectives and to answer some questions with quantifiable data.
The first objective was to trial the idea of a win mechanic which would make matches themselves more enjoyable. Goal goes in, you win dividends. Seems a simple enough concept and one which we hope introduces the idea of dividends to newer traders.
One of the biggest bits of feedback we’ve received from new traders in the last 12 months is that our dividend structure is complicated, unclear and intimidating. The option of a very clear and simple win mechanic alongside our existing and much-loved Media and Match Day Dividends could be the key to on-boarding new customers with a better experience.
Secondly, we wanted to trial the idea of a time-sensitive share bonus, whereby newer shares qualify for ‘something extra’ for a period. Again, the hypothesis here was that it would encourage new customers to build out their portfolios over time, and for older customers, it was something to take the sting out of commission paid when making changes to your portfolio.
Thirdly, as customers have shown a big preference for a share split we wanted to trial fractions of pennies as a win opportunity. There has been more than a few traders who’ve suggested we “do a share split, and keep the dividends the same”, effectively doubling dividends. Though we can see doubling the dividends has mass appeal, it is not something we are planning to do currently. However, it may be that dividend payouts may ultimately lead to some turning into fractions of pennies.
Lastly, we wanted to see the impact of a new league added to payouts before introducing more without careful consideration.
Are you going to stop the trial?
We’re continuing the trial, it’s important to see its impact over the whole period after the initial novelty factor wears off. Users should not expect any changes before the end of the test period.
How has the trial gone so far?
We’ve had some fantastic feedback expressing a number of different perspectives on this – please keep it coming – email [email protected]
We saw a big influx to the market after the announcement, and that has largely been retained. Whilst there has been some negativity around the Goal & Assist Dividends, it’s important to remember that there are other things which impact trading, like Messi breaking his arm, if a player goes down in value it’s not necessarily because of our trial.
When will you make a decision about keeping Goal & Assist Dividends or not?
We’re planning to evaluate again in the middle of November with a view to announcing the future plans on Goal & Assist Dividends, or indeed if we choose not to continue it.
Is Football Index moving away from it’s successful USP and focusing more on short-term betting?
Absolutely not. We can’t stress enough that Football Index will retain and be true to its values as the only place where your bet doesn’t get swept off the table at the final whistle.
The trial of the Goal & Assist Dividends should not be misconstrued as an attempt to become like all the other bookies. We aren’t like them and never will be.
To summarise it’s important that everyone bears in mind that this is only a short trial. We aren’t trying to take anything away from what already exists, simply add a new way to win. We are listening to and taking peoples feedback very seriously. We need time to see how the trial goes and analyse data and feedback. We want to build a product that everyone loves and is proud of.
Onwards and Upwards!