Tennessee sportsbook Action 24/7 suspended

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Tennessee local sportsbook Action 24/7 had its license suspended by state regulators Friday after an employee self-reported alleged cases of credit card fraud, proxy betting and money laundering.

The Tennessee Education Lottery’s Sports Advisory Council held an emergency meeting Friday afternoon. Lottery inspector Danny DiRienzo shared he received an email of reported fraud and money laundering on the sportsbook’s mobile app.

Tennessee offers exclusively mobile and online sports wagering.

According to The Tennessean, DiRienzo said tens to hundreds of thousands of dollars were funneled through the app. Dozens of accounts were linked to proxy betting.

Action 24/7’s app was offline as of Friday. With its license suspended, the sportsbook will miss out on NCAA Tournament wagering this weekend.

Action 24/7 CEO Tina Hodges said in a statement, "The Board today indefinitely suspended Action 24/7’s sports betting operator license for suspicious player deposit activity. This suspicious activity was detected quickly by Action staff and Action swiftly suspended the involved player accounts.  Action instituted additional controls to curb the activity, and no further such activity has occurred since.

“Yet, 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."

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