Plans to Legalize Sports Betting in Texas is Doing Better Than Previous Efforts

When talking about gambling and sports betting in Texas, there are a lot of topics to consider. One, would be the enormous effort it would take to have legislators consider legalizing gambling in such a conservative state. Two, it would be to talk about how large the potential betting market is in Texas, and how sportsbooks, and the state, can earn from sports betting in Texas.

In the past, attempts to pass sports betting bills has been hard. In fact, this session is the furthest that any sports betting bill has made. Currently, there are two casino related bills- HB 2843, and HJR 155. These bills aim to legalize casino resorts and allow for sports betting. HJR 102 and HB 1942 are two other bills that talk about legalizing online sports betting in Texas. Given how profitable using a pay per head sportsbook is, its practical for legislators to ensure that online wagering will exist.

Legalizing Sports Betting in Texas: Will Any Bill Pass?

Plans to Legalize Sports Betting in Texas is Doing Better Than Previous EffortsThe bills have passed the House State Affairs Committee, so there is movement in the bills. There is still resistance, but passing of bills are based on majority votes. So getting more support from legislators, government officials, and stakeholders is important. The Sports Betting Alliance (SBA) is comprised of former politicians, sportsbook operators, as well as professional Texas sports groups.

To gain familiarity with gambling and sports betting products, these gambling reviews will be very helpful. As for Texas, the legislature have the chance to review the bills as they pass through committees, and will later on require a two-thirds vote to pass.

The House may be able to get enough support to pass, but the same may not be the case for the Senate. One argument to be made in favor of sports betting, is that the state can gain revenue from wagering. The license alone will be $500,000 each, and renewable after five years for $100,000. Taxes on sports betting is proposed to be 10%. The bills are now in going to the Calendars Committee, then will move to the House for a second reading.

 

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