In the Lone Star State, bipartisan support for a new sports betting legalization bill is a development gaining steam per one source. According to the latest from the frontlines of Texas sports gaming, 19 members of the Texas Sports Betting Alliance have supported the legalization movement for SB 715. This will was introduced into the Texas Senate in order to once and for all legalize sports betting within the state. More importantly, the bill has garnered support from both sides of the political aisle, something which certainly is a great sign for proponents of sports betting legalization in the state.
In this article, SBS will be going over the latest news from Texas along with some more thoughts and information about gaming in the state.
Per the same report, with support from Democratic politicians such as Christian Manuel as well as Republican lawmakers like Lois Kolkhorst, it appears there is light in the sports betting legalization tunnel. With this positive support ramping up, some legal sports betting sites have also chimed in estimating that 50 million Americans combined to wager a collective $16 billion on the Super Bowl. This perhaps has fueled the envy of those in Texas, where football is king, and being unable to have any stake in all that revenue may influence the passing of SB 715.
One of the biggest changes in the language of SB 715 according to one article is the substantially higher tax rate on sports betting transactions. This has been set at 10% of adjusted gross sports betting revenue. Former Texas Governor Rick Perry, who is now a spokesperson for the Sports Betting Alliance, estimated that Texas could bring in around $250 million per year if gaming were to pass. As pointed out in another source, this is a big departure from previously introduced bills such as HB 1275, which sought to put a tax rate of 6.25% on any wager placed by an individual.
Among the various bills circulating the halls of the Texas Senate and House, support from the various pro sports teams in the state could be perhaps the biggest boon for passing the bill according to one article. For regular readers of this space, the Sports Betting Alliance in Texas is comprised of the most major sports teams in the state and includes most major squads from the Dallas Cowboys and the San Antonio Spurs to the Dallas Stars and Houston Astros. Through SB 715, each team would be eligible to apply and obtain a sports betting license, which they can then use to partner with an online sports betting platform.
Moreover, as referenced in the same article, the bill has further gained support from various team owners such as Mark Cuban and Jerry Jones. The latter in this case has been a steady Republican supporter for years and one of the key figures in pushing along SB 715 past Lt. Governor Dan Patrick. Speaking of Patrick, he has been the key figure to rally against the idea of legalized sports betting in Texas, but may soon feel more political pressure with more of his political peers rallying around the idea and jumping on board.
Once you are all set regarding the latest sports betting news from Lone Star State, SBS of course has you covered with a ton of great betting information. For even more insights into what is going on regarding the subject matter at hand, our sports betting in Texas guide has your back. Here you can find the latest news pertaining to Texas gambling and how you can use it to your advantage. Moreover, if you are someone that is always on the go and looking to stay on top of the action, the SBS best betting apps rundown is a must-read to learn about all the great nuances of mobile betting. Finally, if you are maybe uncertain about which payment options for deposits and withdrawals are best for you then the SBS payment methods breakdown can make things a breeze for you.
About the Author
As a devout aficionado of sports, Chris Boline has carved a career within the athletic realm. A skilled scribe, he boasts a decade-long portfolio that encompasses coverage of the NBA G League, the Los Angeles Chargers, football in the Mountain West Conference, and basketball. Beyond his professional pursuits, Chris is deeply invested in his community and dedicates his leisure hours to serving on boards, collaborating with community organizations, and cherishing the company of loved ones.
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