Texas Losing on Tax Revenue from Lack of Betting and Casinos

There is currently a limited number of gambling options for Texas residents.

Texas Is at Disadvantage for Not Offering Sports Wagering

Bingo, parimutuel wagering and raffles are allowed, but residents that want to participate in casino gambling or sports wagering would need to visit a nearby state. While some prefer traveling for hundreds of miles, others simply select services offered by illegal, offshore operators. But this may soon change, judging by the continuous efforts of lawmakers in the state.

Jim Crane, the owner of the professional basketball team based in Houston, Houston Astros, recently acknowledged that the state is at a disadvantage for not offering betting on sports, a report released by Fox 7 Austin reveals. He pointed out that Texas is losing from not offering sports betting while other states have already legalized and introduced the activity. Additionally, Crane pointed out that leading sports leagues such as MLB, among others have already “embraced” sports wagering.

“I think, you know, we’re at a disadvantage in Texas because we don’t have it and the other states do.“

Jim Crane, owner of the Houston Astros

Bill Calls for Limited Casino Gambling, Sports Betting

Crane’s call comes amid efforts to legalize sports betting in Texas. One option that proposes betting and casino gambling in the state is Senate Joint Resolution 17, a bill pre-filed by Senator Carol Alvarado back in November. SJR 17 seeks to change the state’s regulatory framework and clear the path for wagering on sports and “limited casino gambling.” The proposal calls for the establishment of a gambling regulator in Texas. This regulator will be in charge of licensing and regulation of the activities.

Under SJR 17, the state may introduce casino gambling as a part of resorts. This comes as no surprise, considering that integrated resorts or casino resorts help boost tourism, create new jobs and deliver economic stimulus in the form of taxes. And this is precisely what Senator Alvarado is after. Speaking about the possibility to legalize casino gambling, she pointed out that the bill seeks to create new workplaces and at the same time revitalize and diversify the state’s economy.

Alvarado explained that the proposal isn’t offering general casino gambling and complete liberalization of the market but instead calls for the establishment of casinos located in cities such as Dallas, Austin and Houston. She outlined that the legalization of sports wagering and limited casino gambling will also help reduce the share of the black market.