Tennessee Education Lottery Says Action 24/7 Operates in Line with State Law

Members of the Tennessee Education Lottery Association have formally asserted they are not investigating the online sports-betting website Action 24/7 and that the company’s internal controls meet state requirements. This, according to a letter that Tennessee Education Lottery (TEL) Executive Vice President and General Counsel Alonda W. McCutcheon distributed this week.

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Nashville Chancellor Patricia Moskal Rules Tennessee Education Lottery Can’t Hold Hearing Against Action 24/7 on Previously Addressed Matter

Nashville Chancellor Patricia Moskal ruled Monday that members of the Tennessee Education Lottery (TEL)  do “not have the unilateral right” to take punitive measures against the Tennessee-based Action 24/7 concerning a matter she’s already ruled upon. Action 24/7 officials operate an online sports-betting site based out of the Volunteer State.

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Action 24/7 Wins in Court

The judge overseeing the case involving the Tennessee-based Action 24/7 has ruled that the Tennessee Education Lottery (TEL) must reinstate the company’s sports gaming operator license. Chancellor Patricia Moskal ruled that members of the TEL did not give Action 24/7 the proper due process and that continued suspension of the license threatens the businesses’ continued financial livelihood.

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Transcript of Tennessee Education Lottery Board Meeting Suggests Action 24/7 Suspension Made in Haste

Several members of the Tennessee Education Lottery (TEL) Corporation’s Board of Directors, while driving in their vehicles,  decided to temporarily take away Action 24/7’s operating license.

Some board members were on spring break.

And TEL board members took this action while taking the word of an investigator who said the company didn’t follow through on the necessary security protocols.

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Action 24/7 Fights Suspension in Chancery Court

The judge overseeing the case involving the Tennessee-based Action 24/7 reportedly will work as quickly as she can to determine whether the Tennessee Education Lottery (TEL) should reinstate Action 24/7’s sports gaming operator license. This, because of the loss of revenue the company is experiencing during the National Collegiate Athletic Association’s “March Madness” basketball tournament, according to LegalSportsReport.com

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Sports Betting Company Action 24/7 Says ‘When Tennesseans Win Big, They Want Their Money Fast . . .Our Digital Withdrawals Only Take 15 Seconds’

Sports Book Betting

This week officials with the Tennessee-based Action 24/7 online sports betting company said that they, unlike their competitors, do not delay withdrawals or offer bonuses for players to cancel withdrawals. New Jersey officials, according to The Minnesota Star Tribune, this week threatened to act against sports book operators who ask customers to cancel requests to cash out money.

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David Vs. Goliath: BetMGM Picks a Fight with Tennessee Owned and Operated Action 24/7 Over Jerry ‘The King’ Lawler Ad

An attorney for the Las Vegas-based BetMGM sportsbook company has claimed trademark infringement against its Tennessee-based competitor Action 24/7 because of two advertisements that Memphis wrestler Jerry Lawler tweeted this week. The Jerry Lawler ad prompted Las Vegas-based attorney Lindsey A. Williams to send a cease and desist letter to Action 24/7.

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$27 Million in Tennessee Sports Betting Revenue in First Week; Action 24/7-Only Locally Owned Sportsbook-Is Competing Against the Big Companies

NASHVILLE, Tennessee–Bettors in Tennessee made $27 million in wagers during the first week and one day of legally authorized sports-only gambling in the state. WATE reported the details: On November 1, over $5.1M was wagered, the adjusted gross income (AGI) was $800K, and the total tax was $160K. From November 1 through the 8th, over $27.4M was wagered, the AGI was over $2.5M, and the total tax was $509K. “These numbers are encouraging as we work to protect the consumer, promote fairness in sports and regulate this new Tennessee industry that provides critical funds for education, as well as local governments and problem gambling services,” President and CEO of the Tennessee Education Lottery (TEL) Rebecca Paul Hargrave said on Monday of the launch of legally authorized sports-only gambling in the state. Four companies have been approved by the TEL 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 Tennessee Star spoke with Action 24/7 President Tina Hodges at the company’s new offices in Nashville on Monday about the company’s launch. Hodges told The Star “Action 24/7 is ready to compete” with the three larger out-of-state…

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Sports Betting Projected to Net Millions in Tax Revenue for Tennessee

Sports fans in Tennessee placed the first legal sports bets in the state this week, as sports wagering became legal Sunday.

Sports wagering is estimated to generate up to $4.5 billion in revenue each year, according to a study by Oxford Economics. The state will collect about 20 percent of that revenue – the second-highest tax rate on sports betting in the country – to support scholarships in the state.

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