Action 24/7 Shuts Down, Number of Tennessee Online Sportsbooks Drops to 10
Tennessee Action 24/7 is no more.
Based in Nashville, the state’s only locally owned and operated licensed sportsbook since 2020, posted a notice on its website that they will no longer be accepting wagers and has ceased operations.
A notice on the sports betting operator’s website noted that it would honor all previously made wagers.
In addition, the sportsbook said more than 90% of “the funds invested in the company” were from Tennessee residents.
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. We are forever grateful for your confidence and support.”
Action 24/7 Founder and President tina hodges, in a press release
Tennessee is the only state with legal sports betting that levies its tax on the handle, or the amount wagered, rather than the revenue generated by licensed sportsbooks. (Note: Illinois does levy a surcharge for each bet placed along its progressive tax on operator winnings). That means Tennessee sportsbooks must pay taxes even if they lost money for the month.
The state does not report the monthly handle for each of its licensed online sports betting operators.
Hodges is also the chief executive officer of short-term and online loans lender Advance Financial. Advance Financial has 78 locations in 57 towns across the state, highlighted by eight in Nashville and four in Knoxville.
Action 24/7 bettors were able to cash out their winnings at Advance Financial locations, according to the financial firm’s website.
Problems Followed A Year After Launch
Action 24/7 faced several legal challenges during its six years of operation, with its license being suspended in March 2021 by the Tennessee Education Lottery (TEL) Corporation Board of Directors.
At that time, TEL and its Sports Wagering Advisory Council (now the Sports Wagering Council (SWC)) accused Action 24/7 of potential money laundering and suspected credit card fraud.
The company filed suit against lottery officials that same month, claiming that board chair Susan Lanigan had revoked the sportsbook’s license without consulting the full TEL board or its Sports Wagering Advisory Council, and with the sportsbook company not having been allowed to make a case for itself.
Attorneys on behalf of the sportsbook argued in court that the business suffered substantial harm from the suspension of its license just as that year’s NCAA Tournament was starting, one of the most-wagered-on sporting events of the year, second only to the Super Bowl.
Later that month, the sportsbook operator received a temporary injunction against TEL officials, which reinstated the company’s sports wagering license in time for the Sweet 16 of that year’s NCAA Tournament.
The Volunteer State now has 10 licensed sportsbooks operating in the state. They are: Bally Bet, bet365,, BetMGM, Caesars Sportsbook, DraftKings, Fanatics Sportsbook, FanDuel, Hard Rock Bet, theScore Bet, and VIP Play. The SWC regulates all wagering in the state.
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