Texas’ sports betting ban leaves some Texans vulnerable while we miss out on potential state revenue and economic growth. Our state lawmakers need to let Texans decide on legalizing sports betting for ourselves, allowing us to create a safer environment for all Texans and generate funding for the state.
Unregulated offshore sports betting sites are increasingly used in Texas as the regulated sports betting market becomes popular and legalized in more than two-thirds of U.S. states. Black market sportsbooks dodge U.S. regulations and offer no legal recourse for customers. Legalizing sports betting would allow the state to regulate and provide consumer protections while tamping on these fraudulent, illegal actors who are siphoning revenue that could be going to the state and benefiting taxpayers instead.
We can generate hundreds of millions in revenue from a regulated sports betting market in Texas. This revenue could be directed towards critical state programs and relief for taxpayers without raising taxes. Since 2018, we have already seen that states that have legalized sports betting have generated $4.3 billion in additional tax revenue.
Texans shouldn’t be on the sidelines. We deserve the freedom to vote for a safe and legal sports betting market.
Jesse Speirs is a former professional golfer who played collegiately at TCU and Ole Miss.