The backlash was prompted by a market update released on Friday, when the operator announced a restructure to its dividend policy. 

Players reacted negatively after dividends were reduced, with many claiming they were now unlikely to ever get back the heavy amounts they had hitherto invested.

Following up, Football Index released a post saying it understood player frustration and that “substantial losses” had led to the need for a rebuilding strategy. 

But continued abuse on social media then forced the firm to close off replies on all its Twitter updates, after staff had received “personal threats.” 

Football Index made waves as a unique betting offering in the UK market, where players could trade shares in professional footballers akin to the stock market, rather than placing wagers in the traditional sportsbook sense. 

The brand’s success led to a massive marketing push, including national adverts on television and on public transport. 

However, the Covid-19 pandemic has reduced liquidity on the platform and the aforementioned losses have significantly affected the operator’s recent performance.

Football Index founder Adam Cole had last year been replaced as CEO by Mike Bohan, previously the company’s CMO.