The Rise of Sports Betting Interest in Texas: A 2024 Overview

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00:00We're going to get into the next state that I know next year, you and I are going to be

00:08talking about this just like Missouri every week, it's sports betting in Texas.

00:12And I find it really interesting here, Pat, that a lot of people cannot bet in Texas,

00:17but they sure are trying according to your article over a legal sports report.

00:21Yeah, they're, they're, they're really trying, you know, GeoComply recently released some

00:28new numbers.

00:30What is it?

00:31It's 1.48 million users in November attempted to place a bet in a legal sports book in a

00:37different state, probably Louisiana would be my guess for most of them.

00:42And of course, GeoComply blocks that because they're, they're doing their job.

00:45But that was an 87% increase from the last year.

00:50So I mean, the obviously the momentum is kind of growing, people are hearing sports betting,

00:55oh, people are talking about sports betting in Texas, maybe we can do it.

00:59Of course, then they go and try and then they can't and then they probably get upset.

01:04Does this mean a whole lot for the chances next year?

01:07Unlikely, as we've talked about ad nauseum and will continue to do so.

01:11Because just like Missouri is the latest state to launch or to be ready to launch, which

01:16we haven't had in a while, and the industry really wants it, well, Texas is potentially

01:20the largest potential handle in the US and they really want to get their feet in there.

01:26However, of course, 2023, we had a bill to legalize sports betting that was passed by

01:32the house.

01:33So great, that's great.

01:35But the Senate, it didn't even get a vote.

01:37And that is because Lieutenant Governor Dan Patrick, super anti gambling expansion.

01:44Same thing is going to happen this year, they only meet in the legislature every other year,

01:48every odd year.

01:49So 2025 is the next next one.

01:51And Dan Patrick will still be in his position, still playing roadblock.

01:57So 2025 is unlikely, but that doesn't mean this momentum, the people trying to bet the

02:02legislators who do want to keep building the industry continues to pour resources in, you

02:07know, we I know we talked last week, I think about Miriam Adelson, this year, pouring $13

02:11million into political action committees to try to get more people on board.

02:17And I think this is all just continuing the momentum build, eventually, more and more

02:20legislators will see my constituents want this, we need to do it.

02:25I mean, it's it's an insane amount of people in Texas that I can imagine want it an insane

02:31amount of money between the Adelson's and Jerry Jones and Mark Cuban and everyone.

02:37So yeah, it's just something that I think we're gonna have to wait till at least 2027

02:43to actually have really positive news for the industry.

02:47But I think we're gonna see a lot of like little inches forward in 2025.