Football Index collapse shows Gambling Commission is failing in its basic duty

Football Index looks set to be added to the names of the likes of Canbet, Blue Riband and MoPlay as betting operators who have failed under the watch of the Gambling Commission.

The collapse, involving tens of millions of pounds and customers who fear they have lost their life savings, has led to the industry regulator, which was already under fire, facing renewed scrutiny.

And quite rightly, because the Gambling Commission is not only failing in one of its basic objectives but does not seem to have learned lessons from similar events that happened years ago.