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Report
Texas Sports Betting Could Yield $32 Billion Impact
SportsGrid
Follow
11/25/2024
Category
🥇
Sports
Transcript
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00:00
What would happen if sports betting was legalized in the state of Texas?
00:07
I saw this study that you guys posted over at LSR.
00:10
I mean, the numbers are pretty staggering here, if I'm not mistaken.
00:14
Their projection is a potential $32 billion industry with a B. I mean, Pat, that is huge.
00:20
How can't Texas get this done?
00:22
I mean, that would be probably the largest market.
00:25
I mean, I think at this point, that is the largest market of sports betting that would
00:28
be in the US.
00:29
Yeah.
00:30
It's just, I think that's the takeaway.
00:32
Eilers and Crycheck was commissioned by the Texas Sports Betting Alliance to do this kind
00:37
of market research.
00:38
They first did it in 2023, then they came back and did it again.
00:42
And yeah, they increased their potential, their estimated handle by 43%.
00:48
And that's based on things like the ramp up of Maryland and Ohio, how quickly those markets
00:54
matured.
00:55
That's kind of how they came to that conclusion, along with a few other things.
00:59
And yeah, I think what that says is this is going to be a market that the focus is
01:04
turned to.
01:05
Of course, we've got some states that are very close, that very likely could legalize
01:11
next year, if not the following year, with Minnesota, Georgia, even Alabama.
01:16
We're hearing a lot about some rumblings there.
01:21
But Texas, with the potential to be the largest market, you're putting a lot of spotlight
01:26
on that.
01:27
And I think the market is going to look at that even harder than they have been.
01:31
Of course, we know that 2025 is very unlikely because of Lieutenant Governor Dan Patrick,
01:36
who's been very adamantly against gambling.
01:41
But you've got to lay the groundwork, and the sports book industry has already done
01:47
a lot of that.
01:48
But I think with this report, we'll say, hey, we've got to really double down on that and
01:51
get this live sooner rather than later, even if that is 2027.
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