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Texas on the Brink of Legalizing Sports Betting by 2025
SportsGrid
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12/4/2024
Category
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Sports
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00:00
Let's close it out with another state that may get sports betting in the future.
00:08
Not quite as complicated as I think California is going to be because of the tribes that
00:12
may control a lot of the operations there, and that is, of course, Texas.
00:16
This just seems like, Pat, a vote away from this becoming a reality.
00:21
Maybe in 2025 and then with legalization officially in 2026, the amount of money that's being
00:26
backed to get sports betting to Texas is just huge.
00:30
I would imagine this will be a big story for us next year.
00:33
I mean, we're going to watch this so closely next year because, of course, like you said,
00:38
it's one of the biggest states.
00:39
A study just came out that said it could be the largest handle of any U.S. market annually
00:44
once it's mature, which is pretty nuts.
00:48
And yeah, we've talked a lot about how Lieutenant Governor Dan Patrick is very adamant that
00:52
gambling won't pass as long as he's kind of in charge of the Senate in Texas, which
00:56
of course could be up in 2027.
00:58
So a lot of industry stakeholders are saying this is a big year that we're going to try,
01:03
but 2027 is more likely.
01:05
But here we are.
01:06
Miriam Adelson, who, of course, bought a majority stake of the Dallas Mavericks from Mark Cuban,
01:11
is just doubling down.
01:12
She put in a lot of money before she owned the Mavericks and before the 2023 session.
01:18
And now through the first 10 months of this year, she put in $13 million to different
01:23
PACs that then distributed it to different legislators.
01:27
She really wants casino and gambling, which, again, makes sense.
01:31
It's a giant market, lots of potential, and so do Mark Cuban and Jerry Jones.
01:35
So there's a lot of big voices, a lot of big money behind it.
01:39
Whether that moves the needle in the Senate, that needs to be done because, of course,
01:42
a bill passed the House in 2023, they only meet every other year.
01:47
I bet it passes the House again this year.
01:49
Does it pass the Senate?
01:51
Not really, unless somehow Dan Patrick changes his tune.
01:55
But Adelson's doing her best.
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