Texas missing out big on March Madness Gaming Revenue

Updated June 30, 2022
Updated June 30, 2022By Chris Boline
texas betting news march

With March Madness in the air, every state seems to be getting in on the action. From schools in the NCAA tournament to thousands of brackets being busted, it seems almost everyone is getting in on the action. In Texas, one of the largest states by population in America, many are still making wagers even if it is not legal in the state. Many interested parties are even making pushes to legalize gambling there. 

As always, SBS has your back with some of the latest gambling updates in the Lone State State and what the near future of gaming looks like in Texas.

Texas losing out on big revenue from gambling

According to a recent article from the Beaumont Enterprise, Texas will be missing out on some substantial revenue from all the wagers being placed during NCAA March Madness. In research conducted by the American Gaming Association, an estimated 45 million adults plan to wager roughly $3.1 billion in bets. However, this massive number will not be a factor in Texas as the practice of gambling is not legal in the state. 

Dave Forman, a senior director of research at the American Gaming Association said that Texas missed out on an estimated $1.3 billion in potential sports betting revenue on an annual basis. With that in mind, when could this change? The last time a bill was filed to make sports gambling legal in Texas was in 2019 with H.B. 1275. For Texans, the next chance they will have at legalizing sports betting will be in 2023 when the Legislature meets again. 

In a poll by the Dallas Morning News and the University Texas, Tyler, 43% of Texans support legalized sports betting, while 31% were ambivalent towards such a measure. In terms of sports wagering across the country, Texas is in the minority of states without legal sports wagering. As of March 2022, 32 states and the District of Columbia have legalized sports wagering. Also, of these states, 18 allow online betting after the Supreme Court overturned the Amateur Sports Protection Act which would have made gambling illegal in most states.

Las Vegas Sands spearheading push to legalize in Texas

In a bid to legalize casinos in Texas, the Texas Sands PAC has already spent over $500,000 across three dozen primaries for the state House and Senate, according to the Texas Tribune. This PAC, formed in January of this year, has spent a significant amount of money mostly to help incumbents facing primary competition. The PAC filed its first report earlier this month with the Texas Ethic Commission, revealing recipients and initial funding of $2.3 million from Miriam Adelson. She is the widow of Sheldon Adelson, who was the CEO of the Sands and a significant GOP mega donor. 

In the last year, the Sands organization has made a high-profile push to legalize casino gambling in Texas. However, its legislation to let voters have a say on the issue did not get very much traction, only receiving a committee hearing in the House. The PAC has already given Senate candidates $4,000 or even $30,000 which went to Pete Flores, the former Republican senator from Pleasanton. One of its biggest contributions, the PAC also gave $75,000 to Governor Greg Abbott who is going to face a vocal group of primary challengers. 

For More Gaming Information and Betting Sites Options

As you are learning more about the gambling atmosphere in Texas, make sure to check out the SBS breakdown of sports betting in Texas. This page will give you everything you need to know about the sports betting landscape in this very large state and what things you should be aware of. While you are there and are also in a state that allows gambling, you should also make note of SBS’ page March Madness betting strategy breakdown. For seasoned bettors, it is never a bad idea to have all kinds of NCAA Championship information in one place. 

The SBS also has you covered when it comes to utilizing various gaming sites. For instance, check out our BetOnline sportsbook review which details all you need to know about using this outlet. With these resources available, you will be a seasoned pro in no time

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About the Author

Chris Boline
Chris Boline

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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