Tennessee: Action 24/7 stops accepting wagers

• Action 24/7, one of the licensed sportsbooks in Tennessee, discontinued its offering
• The operator confirmed that it will no longer accept wagers but said that previously accepted bets will be honored
• After Action 24/7's decision, the state is left with 10 licensed sportsbooks

After operating for more than five years, one of Tennessee's sports betting licensees stopped accepting wagers.

That's the case with the only locally operated and owned sportsbook, Action 24/7.

Action 24/7 no longer accepts wagers

Tennessee legalized sports betting in 2019 and on November 1, 2020, officially launched legalized sports wagering.

Since the launch of legal betting, the sector has helped support nearly 7,000 jobs, generating $227m in tax revenue annually, data from the American Gaming Association reveals.

Per the Association, the annual economic impact of sports betting is an estimated $1.8m, a figure that highlights the importance of the vertical.

While previously, there were 11 licensed betting operators, that number only recently decreased.

This became a fact after Action 24/7 LLC confirmed in a statement via its website that it is "no longer accepting wagers."

"All wagers previously accepted will be honored," the company explained.

Action 24/7's statement further reads: "We are proud to have served our friends and neighbors as the only Tennessee-owned and operated licensed online sportsbook for the past five years."

The operator thanked its customers for their loyalty and support throughout the years.

"Over 90% of funds invested in the company were from Tennesseans. We are forever grateful for your confidence and support," Action 24/7's statement further reveals.

Based in Nashville, the operator was among the first to introduce its services.

While it faced legal woes early in 2021, Action 24/7 was able to quickly recover just in time for the NCAA Tournament at the time.

With Action 24/7's decision to stop accepting wagers, the number of licensed betting operators in Tennessee now goes down to 10.

Among the licensed sportsbooks that will continue to operate are industry leaders such as DraftKings, FanDuel, as well as Hard Rock Bet, BetMGM and Caesars, and several others.

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