Texas Working on Online and Mobile Sports Betting Legalization

USA’s second-largest state, Texas, could be introducing online and mobile sports betting next year if its lawmakers manage to run the rule that permits this over H 1725 Bill.

The bill, originally introduced by Rep. Eddie Lucio III, allows five state permits with each getting two skins. A 6.25 percent tax on sports wagers handle would be collected on a monthly basis and would need to be paid by operators that get approval. Permits themselves will cost $250,000 each.

Referendum Puts Everything on Hold Until 2020

The Bill has a long way to go before going into effect on January 1st 2020 at earliest, as defined in its language…

…for it first has to overcome two big obstacles: it will be put to a test in the Texas House and Senate where it needs to acquire a two-thirds vote approval before it is sent to a public vote.

The legislation is required to go through this referendum, scheduled for November of this year, and only if it es both of these votes, will it be adopted – enabling Texas players to bet on professional sports and US college sports events, as long as a team from Texas is not involved or the game is not taking place in the state.

The Lone Star State could establish a regional reign over sports betting as a segment…

…as its only neighboring competitor at the moment is New Mexico, who offers a limited, regulated service under tribal laws since October – namely Albuquerque’s Santa Ana Star Casino runs a sportsbook under the Indian Gaming Regulatory Act.

Casinos on Humanitarian Missions

Last spring, independent Texas gubernatorial candidate, Andrew White, proposed a $9 million plan and policy that would see land-based casinos contribute to funding of public schools.

White was not elected – his Republican counterpart, Gregg Abbott, won the race and took over his new duties on January 1st.

In December, Representative, Joe Deshotel, came up with an original plan for subsidizing underfunded windstorm and flooding insurances. He proposed a tax revision for licensed casinos and for six new licenses to be handed out to potential operators in six different counties, mostly in the coastal region.

Deshotel’s bill suggests the 18% GGR tax that would be sent to Texas Insurance Agency. A part of that would cover the costs for funding and rebuilding programs for areas of the state that are frequently hit by natural disasters such as floods.

He also voiced a very frequent concern:

“Every bordering state to Texas has legalized gambling. We lose millions of dollars in potential tax revenue to those areas. We have the consequences of gambling, but none of the positives.”

Source:

“Texas considers online and mb8le sports betting”, igamingbusiness.com, February 4, 2019.