This week officials with the Tennessee-based Action 24/7 online sports betting company said they pay winners instantly in person and within 15 seconds digitally.
As The Tennessee Star reported in November, “Four companies have been approved by the TEL (Tennessee Education Lottery) as sportsbooks in Tennessee. Action 24/7 is the only Tennessee owned and operated company among those four. The other three are international publicly-traded companies.”
The Star subsequently reported Action 24/7 competes against the three other sportsbooks companies, all giant multinational companies, in a David versus Goliath scenario.
Action 24/7 officials said in a press release that they continue “to lead the industry with innovative practices like same day pay and cash withdrawals.”
“When Tennesseans win big, they want their money fast. As a rookie bookie, I couldn’t agree more – Tennesseans should get their money quick and easy,” said Action 24/7 CEO Tina Hodges.
“At Action 24/7, our digital withdrawals only take 15 seconds, and cash withdrawals are in-person and instant. That’s why more and more Tennesseans are downloading Action 24/7 and using our app. They enjoy receiving same day pay, the flexibility of not being required to use a bank account, and speaking to real Tennesseans at our customer service call center. These innovative practices and local services are what sets Action 24/7 apart from other mega-corporations.”
Instant payments to winners may be the practice at Action 24/7 here in Tennessee, but not competitors in the sportsbook industry in other states do not appear to consistently have that policy.
A sports betting companies in at least one state, New Jersey, reportedly delays withdrawals from winners.
According to The Minnesota Star Tribune, government officials at New Jersey’s state level threatened to act against sports book operators who ask customers to cancel requests to cash out money.
Legal Sports Report this week published an article that said many people have complained to New Jersey’s Division of Gaming Enforcement (DGE) about sportsbook operators who encourage players to reverse withdrawals. DGE officials did not identify any specific sports book operators.
According to the New Jersey DGE letter, “the existing rules of the Division prohibit the practice of soliciting or incentivizing withdrawal requests to be rescinded or cancelled by the patron.”
According to Legal Sports Report, the New Jersey DGE findings “suggest that growth may not be entirely healthy if built on predatory practices.”
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