Is Sports Betting Legal in Texas?
For the foreseeable future, it looks like the only ties to sports betting in Texas will be with the owners of some of the state’s pro teams. Texas has opposed gambling at just about every turn and the fight for legalized sports betting won’t be any different anytime soon. The hilarious irony in it all is that the sports leagues fought against sports betting for a long time before eventually giving in. Houston Rockets owner Tilman Fertitta has a company named Landry’s that owns the Golden Nugget and also casinos in Biloxi, Atlantic City, and Lake Charles.
Dallas Mavericks owner Mark Cuban, or Mark from Cuba for those that get the reference, has been vocally pro-betting with the NBA for quite some time. He’s also a big investor in esports, which draw a lot of betting interest. Cuban is a primary investor in Unikrn, which has been building out betting platforms.
Dallas Cowboys owner Jerry Jones is an investor in DraftKings. The hypocrisy of the leagues, who proudly took advertising dollars from DFS companies and watched as owners bought stake in companies that engage in, or promote, gambling, is finally in the past. However, as progressive and proactive as the owners have been, the state of Texas is not going to follow suit. Of the 50 states, Texas is probably in the bottom 10 in terms of the chances of legalized sports betting.
Texas has seven racetracks and a booming lottery. It should come as no surprise that the second-most populous state in the country would have a lot of gambling and the state does it all without casinos. With a lot of people, especially in the big cities, that have disposable income, Texas is losing lots of dollars to Louisiana, Nevada, Arizona, and the like. But, the state’s stance against casino gambling seems to be leaking over into sports betting and that’s why Texas is a massive underdog in the quest for legalized wagering.
Recent News Stories About Sports Betting
John Moritz of the USA Today Network via the Caller Times had all of the figures, and there are some eye-popping ones, about how well the state’s racetracks and lottery do with the gambling-crazed residents of Texas.
Texas high school football is big business in the Lone Star State to say the least. It is one of a handful of states with lines posted for high school football in the offshore industry. USA Today tackled the issue of betting on high school sports contests.
The Texas Tribune recently acknowledged that legalized sports betting appears to be a minor matter in terms of state politics right now.
Forecast
Despite Texas’s clear interest in gambling via huge numbers for the lottery and racetracks, the expansion of gambling via sports betting appears to be a non-issue for the state’s elected officials. Those that want to do it can continue to do so in the ways that they have. The representatives can’t possibly have their heads in the sand about how much sports betting is done illegally in the state, but it doesn’t appear to be a concern. So, Texas, despite having probably the largest possible revenue in the United States is nowhere near legalization and probably won’t be for a very, very long time.
Neighboring States
