Legalizing sports activities betting in Texas would pay enormous dividends, research says

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Texas stays certainly one of 11 states the place sports activities betting is unlawful, and a brand new research confirmed authorities officers might want to get with the occasions.

Eilers & Krejcik, an impartial analysis agency, performed a brand new research displaying sports activities betting would repay for the state of Texas, FOX Enterprise has discovered.

The research, “Authorized On-line Sports activities Betting In Texas: Income Forecast And Financial Impression Evaluation,” estimates the market may generate over $360 million in direct tax income for the state, whereas including over 8,000 jobs.

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The Barstool Sportsbook at Ameristar Black Hawk in Black Hawk, Colo., on April 30, 2021. (Hyoung Chang/The Denver Put up / Getty Pictures)

The report estimated Texas would profit from over $2.6 billion yearly in financial output, including non-gaming tax revenues generated from authorized sports activities betting are anticipated to complete $24.3 million per yr.

Texas Rangers co-owner Neil Leibman is all for bringing legalized sports activities betting to the state.

“Texas has at all times led the best way in development and alternative, however we’re falling behind relating to sports activities betting. Legalizing it might permit us to maintain billions in income right here at house, supporting essential wants like training and decreasing property taxes — all with out elevating different taxes,” Leibman mentioned in an announcement.

“Texans are already betting; it’s time we make it protected and truthful, whereas guaranteeing our state advantages. Letting Texans determine this subject is about financial alternative and the liberty to decide on.”

Gamblers move into Caesars Sports activities Ebook at Caesars Palace Lodge & On line casino to look at and wager on the Kansas Metropolis Chiefs-Philadelphia Eagles Tremendous Bowl Feb. 12, 2023, in Las Vegas. (George Rose/Getty Pictures / Getty Pictures)

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Dallas Cowboys Govt Vice President Charlotte Jones, the daughter of Cowboys proprietor Jerry Jones, added, “Texans deserve a protected and truthful sports activities betting setting that helps fund crucial wants in our state.

“By legalizing sports activities betting, we will shield our communities, improve the fan expertise and guarantee Texas is not shedding out to different states or the black market. As a mother and sports activities fan, I imagine it’s time to let Texans determine how we transfer ahead, guaranteeing our state advantages in a significant approach.”

Over the weekend, the state of Texas hosted the Jake Paul-Mike Tyson battle, which turned probably the most streamed sporting occasion ever and probably the most wagered battle sportsbooks had ever seen.