Tennessee Sportsbook Action 24/7 Shuts Down

The Volunteer State is down a sportsbook. Action 24/7 has ceased operations.

The closure of the site was announced on the Action 24/7 web page.

“Tennessee Action 24/7 LLC is no longer accepting wagers,” the notice reads. “All wagers previously accepted will be honored.

“We are proud to have served our friends and neighbors as the only Tennessee-owned and operated licensed online sportsbook for the past five years. Thank you for your play. Thank you for your loyalty.

“Over 90 percent of funds invested in the company were from Tennesseans. We are forever grateful for your confidence and support.”

Action 24/7 launched in 2020. The Nashville-owned sportsbook only operated in the state of Tennessee and struggled to compete against the major sports betting sites such as FanDuel, DraftKings, and BetMGM.

“Despite our very best efforts and dedication, the current landscape for state-licensed online sports gambling in the United States has proven to be unviable and unprofitable for all operators in the industry,” Action 24/7 president and founder Tina Hodges said in a statement she released to the Nashville Post.

Action 24/7 once had its licence suspended

A rarity in that it was, in essence, a mom-and-pop operation trying to go head-to-head with the big boys of the US sports betting industry, Action 24/7 lived a checkered existence. The site made US sports betting history of the undesirable kind in March 2021 when Action 24/7 became the first US sportsbook to have its licence to operate suspended.

The Tennessee Education Lottery Corporation, regulator of the gambling industry in the Volunteer State, launched an investigation into Action 24/7. The investigation found that the sports betting site lacked the necessary internal control mechanisms to operate an online sportsbook.

There were suggestions of money laundering and credit card fraud. Action 24/7 representatives self-reported fraudulent activity linked to more than two dozen accounts on the site.

The owners of Action 24/7 also own the Nashville-based Advance Financial. Hodges serves as CEO of that company. Action 24/7 customers were given the option to use Advance Financial locations to fund their sports betting accounts.

Lawyers representing Action 24/7 filed suit against the state regulation, claiming that the suspension was issued before the sportsbook company was provided any chance to defend itself against the charges. Action 24/7 attorneys also argued that the timing of the suspension would do significant damage to the sportsbook, since it came just as the NCAA Tournament - one of the biggest sports betting events of the year - was about to get underway.

Action 24/7 won a temporary restraining order in time to offer wagering on the March Madness Sweet 16. Charges of money laundering and credit card fraud against the site were later dropped.

Tennessee lawmakers also introduced a bill that was directly aimed at the Action 24/7 operation. It was designed to make it illegal for people to place wagers with a gambling company while they have outstanding loans with an affiliated company. That legislation was later withdrawn.

The departure of Action 24/7 leaves 10 online sportsbooks still operating in Tennessee. Those sites include DraftKings, FanDuel, BetMGM, Bet365, Bally Bet, theScore Bet, Hard Rock Bet, Caesars, Fanatics, and VIP Play.

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