I'd go as far as to say that FBS are worse than an 'ordinary' betting company. As usual though, Leicester City seem to evade any criticism.
From a recent Athletic article:
"The app offers retail customers the ability to trade in contracts-for-difference (CFDs), complex products which “come with a high risk of losing money rapidly”, according to a legally mandated disclaimer on the site.
The crypto tab on the FBS website offers the opportunity to make “leveraged” trades on cryptocurrency. This effectively means that customers can lose (or gain) more money than they put in, unlike in conventional gambling or when buying stocks.
Combining these risky products generates “crypto derivatives”, a type of financial product which have been banned from sale to UK retail consumers since January 2021.
After a lengthy consultation, the Financial Conduct Authority concluded that “retail consumers might suffer harm from sudden and unexpected losses if they invest in these products”, going on to outline concerns over crime and fraud in the secondary market."
Not to mention the shady ownership of the Cyprus registered company, which I've written about on here before.