DEVELOPING: Action 24-7 online sportsbook has license suspended by Tennessee Lottery Board
UPDATE, 5:30 p.m.
A statement was issued this afternoon by Action 24/7 Chief Executive Officer Tina Hodges concerning her company’s license suspension by the Tennessee Lottery Board:
“The Board relied upon unfounded fears of future speculative recurrences of the activity, and took draconian action just as the NCAA Tournament is beginning. Obviously, we are disappointed in the Board’s decision, but will continue to work with TEL staff and seek all other avenues of relief to have the suspension lifted quickly so that the people of Tennessee may continue to enjoy wagering on the Action 24/7 sportsbook.”
— Action 247 (@TNAction247) March 19, 2021
An appeal has been issued by Action 24/7 to have their site restored.
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Tennessee Lottery Board officials are dealing with their first scandal involving official sportsbook betting on its watch and it involves a company that advertises itself as the state’s only operated and owned sports betting site.
Published reports said operators of the Action 24/7 site had their license suspended during an emergency session of the board late Thursday with lottery investigators stating the infractions involved credit card fraud and money laundering in their preliminary findings.
A message posted on Action 24/7’s social media says their site is down for maintenance and makes no mention of a license suspension.
Site temporarily down for maintenance. brb. pic.twitter.com/D8SabPqGJg
— Action 247 (@TNAction247) March 18, 2021
Betting sportsbooks have just become legal in Tennessee five months ago but have taken $523 million in wagers since November and have placed a total of $48 million in revenue in state coffers.
Action 24/7’s suspension came on the eve of one of America’s biggest wagering weekends–NCAA’s March Madness during the Men’s Basketball Tournament. Analysts said the previous record for wagers on the games set in 2019 at $8.5 billion will likely be broken this year because of the expansion of online sportsbooks.
(PHOTO: Associated Press)
