Texas Sports Betting Could Yield $32 Billion Impact

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00:00What would happen if sports betting was legalized in the state of Texas?

00:07I saw this study that you guys posted over at LSR.

00:10I mean, the numbers are pretty staggering here, if I'm not mistaken.

00:14Their projection is a potential $32 billion industry with a B. I mean, Pat, that is huge.

00:20How can't Texas get this done?

00:22I mean, that would be probably the largest market.

00:25I mean, I think at this point, that is the largest market of sports betting that would

00:28be in the US.

00:29Yeah.

00:30It's just, I think that's the takeaway.

00:32Eilers and Crycheck was commissioned by the Texas Sports Betting Alliance to do this kind

00:37of market research.

00:38They first did it in 2023, then they came back and did it again.

00:42And yeah, they increased their potential, their estimated handle by 43%.

00:48And that's based on things like the ramp up of Maryland and Ohio, how quickly those markets

00:54matured.

00:55That's kind of how they came to that conclusion, along with a few other things.

00:59And yeah, I think what that says is this is going to be a market that the focus is

01:04turned to.

01:05Of course, we've got some states that are very close, that very likely could legalize

01:11next year, if not the following year, with Minnesota, Georgia, even Alabama.

01:16We're hearing a lot about some rumblings there.

01:21But Texas, with the potential to be the largest market, you're putting a lot of spotlight

01:26on that.

01:27And I think the market is going to look at that even harder than they have been.

01:31Of course, we know that 2025 is very unlikely because of Lieutenant Governor Dan Patrick,

01:36who's been very adamantly against gambling.

01:41But you've got to lay the groundwork, and the sports book industry has already done

01:47a lot of that.

01:48But I think with this report, we'll say, hey, we've got to really double down on that and

01:51get this live sooner rather than later, even if that is 2027.