- Tennessee Action 24/7 Sportsbook has been suspended indefinitely by the Tennessee Education Lottery.
- The Tennessee sportsbook was shut down during the early stages of March Madness betting on Thursday.
- Tennessee Action 24/7 is the first-ever sportsbook to be shut down indefinitely in the United States since sports wagering became a legal activity in the nation.
NASHVILLE, Tenn. – The Tennessee Action 24/7 Sportsbook in Tennessee has become the first sports betting operation in the United States to have its license suspended.
The sports betting operator was under investigation for fraud that ended in an indefinite suspension of all business activities on Thursday night by the Tennessee Education Lottery (TEL) and its Sports Advisory Council. Fraudulent actions were being done with the sportsbook that included credit card fraud and money laundering.
There is no telling the number of sports bettors that this has affected but it’s been estimated that hundreds of thousands of dollars could be the final tallied amount of money that these illegal activities had their hand in.
Two of Tennessee’s four active mobile sportsbooks were under investigation after the Super Bowl for fraudulent activity but no names were disclosed at that time. The first night of March Madness proved to be complete madness for the TEL and Tennessee Action 24/7 as they were promptly shutdown through an emergency meeting held by the TEL. Bets were streaming into the platform for the prolific NCAA basketball event but immediately ceased.
On record, there are three separate pieces of evidence where the sports betting operator was in clear violation of the rules and regulations set forth by the TEL. There is employee testimony that can attest to these incidences that look to have happened on March 8. The problem is, Tennessee Action 24/7 came forward but only did so on March 17, nine days after the fact. Had they admitted to any wrongdoing sooner, it would’ve led to a less problematic outcome and the overall end to their business.
It is now known that the operator was one of the two companies that allowed for illegal activity for the Super Bowl, putting the final nail in their coffin for ever being an active sportsbook for Tennessee again. Each time shady business was taking place, the site or platform was always “down for maintenance” when really, they were doing things that they shouldn’t have been doing.
A Local Sportsbook Gone Forever
Legal sports betting in Tennessee has been a very profitable business for the state and having a sportsbook belonging to only the state itself was exciting but in the end, wasn’t meant to be. Outside of their credit card fraud, wire fraud, and money laundering charges, this is not the first time that Tennessee Action 24/7 has made headlines in its short-lived time as a sports betting operator.
They also made the news when it was found out that Advance Financial, a loan company owned by the sportsbook was allowing sports bettors to pay off their debts with loans they received from their financial institution which led to more investigations by the TEL on the matter.
The closing of Tennessee Action 24/7 Sportsbook may be sad for honest users of the product, especially during March Madness, but in the end it’s something the TEL felt it had to do to protect the integrity of the state’s legal sports betting market.
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News tags: Advance Financial | March Madness | NCAA | NFL | Super Bowl | Tennessee | Tennessee Action 24/7 Sportsbook | Tennessee Education Lottery | Tennessee Education Lottery Sports Advisory Council
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.