Sports Betting Alliance says that the Dallas Cowboys, Dallas Mavericks, and Texas Rangers have thrown their support for legal Texas sports betting.
The Alliance, which is a coalition of companies backing the proposed sports betting bill, revealed that the Cowboys, Mavericks, and Rangers have joined the Dallas Stars and FC Dallas in backing the legislation to legalize sports betting in the Lone Star state.
Since gambling is banned in the state constitution, legal Texas sports betting will need the nod of two-thirds of both the House and Senate to amend the constitution. After that, another bill will have to be passed to enact the details of licensing and regulation. Then it will have to be approved by a majority of Texans in a vote.
What Does the Bill Say?
The current version of the legal Texas sports betting bill provides for the state to sell “skins” or permits to sports betting operators who partner with a sports franchise or a horse racing track. Some skins will only allow online legal Texas sports betting, while others will permit the on-site betting in sports stadiums and horse-racing tracks.
Licenses would cost $500,000 for mobile Texas sports betting and $50,000 for on site operators. Renewal fees would also be collected with the Texas Department of Licensing and Regulation in-charge of issuing the skins.
Only players aged 21 and older are allowed to wager on sports. The list of sports available for betting was not available but under the bill, betting on college sports in permitted. According to the bill’s author, Houston Republican Rep. Dan Huberty, bettors would receive a maximum of 90% of their winnings. The remaining 10% will go to the Texas special education fund.
Limited Gambling in Texas
The only forms of gambling that exist in the Lone Star State are the Texas Lottery, bingo, plus some horse and greyhound racing. Native American tribes have fought for years for the expansion of gambling, citing their right as Federally recognized tribes and sovereign nations to do so, but they have failed. Only the Kickapoo Nation currently owns a casino in the Lone Star state. But the casino doesn’t have the traditional slot machine games and other Las Vegas-style table-games.
Because of limited gambling in Texas, residents are currently engaging in Illegal sports betting. Since there legal Texas sports betting doesn’t exist, they have been forced to turn to offshore or unofficial sports betting sites that don’t provide customer protection.
The Dallas News reported that Texans are spending $2.5B in out-of-states casinos. If legal texas sports betting is approved, Rep Hubert said that it could be worth several hundred million dollars of new revenue to the state without raising taxes.