Tennessee Sports Betting

Action 24/7 Facing Criticism

Action 24 7 payday loans

Tennessee sports betting officially launched on Nov. 1, 2020, and the state has gotten off to a flying start.

Some of the biggest names in the industry were ready to launch sports betting beginning on Nov. 1, and the group also included a locally-owned sportsbook.

Action 24/7 is a sportsbook located in Tennessee, and it has no plans of launching in any other state. Unfortunately for Action 24/7, a state representative has been vocal in criticizing some current business practices, and it could affect the country.

Action 24/7 is actually a part of a bigger group, and it is joined by Advance Financial 24/7. This is a company that offers payday loans, and some of that money is then being used to fund a sports betting account.

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These two companies did not intend to work together when applying for a sports betting license, but lawmakers are concerned that this is actually taking place. With both offices in the same general location, customers could apply for a loan and then turn around and use that money when signing up for an account.

Tina and Mike Hodges own the Advance Financial Money Transmission Company, and both Action 24/7 and Advance Financial 24/7 are brands under this banner. There is already some backlash launched at Advance Financial 24/7 for its predatory approach to issuing loans, but this company has drawn more attention due to sports betting.

This opportunity for sports bettors could create problem gamblers in Tennessee, and the state has worked hard to prevent this from happening. At this time, both companies continue to operate business as usual, but that could change in the coming months.

A Change Could Be Coming

Representative Darren Jernigan has introduced a bill that will keep Action 24/7 from operating using these same business practices. He is hoping that he will get enough support from other lawmakers to make this practice explicitly illegal moving forward.

The bill that has been proposed would keep any company from cashing checks or offering loans to customers with the intended use of sports betting. Most lawmakers believed this was a given based on the current rules, but it has not been enforced.

Payday lenders in the state of Tennessee are not allowed to sell lottery tickets, and Jernigan believes this is a similar practice. The Tennessee Education Lottery did meet to discuss the business practices from Action 24/7, but an official infringement was not recorded.

A few committee members did express some concerns about what is going on with Action 24/7, but there simply wasn’t a rule in place to stop this from happening. This bill from Jernigan could change things going forward, but it is unclear what effect it would have on the local sportsbook.

Jernigan has also accused Action 24/7 of withholding payments to TN sports betting customers in an effort to pay back bills. Action 24/7 has denied doing this, and an official complaint has not been submitted, and there is no current investigation.

Check back for more TN sports betting news and the latest sports news in The Volunteer State.

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