UPDATE: Action 24-7 sportsbook back online after chancery court grants injunction

Bets are back for online sportsbook Action 24-7.

A chancery court judge in Nashville granted an injunction to the Tennessee-based company that had its license suspended by Lottery Board officials earlier this month.

Chancellor Patricia Moskal said the board was erroneous or arbitrary in its move against Action 24-7 when it called an emergency meeting to ratify the suspension without allowing the sportsbook’s leadership an opportunity to be heard.

A lottery board investigator said Action lacked internal control, leading to potential credit card fraud and money laundering activity prior to NCAA March Madness—one of the most lucrative events for the betting industry.

Action 24-7 cited in court that the suspension has damaged the business’ reputation and future earnings.

(IMAGE: Action 24-7)