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The possible advantages of allowing sports betting in Texas are highlighted by a recent study conducted by Eilers & Krejcik. The study estimates that a regulated sports betting market could bring in about $360 million in direct state tax revenue annually and create over 8,000 new employment.
According to the analysis, the economic impact goes beyond tax receipts. Sports betting could generate $2.6 billion in economic output annually, with an additional $24.3 million coming from non-gaming tax collections. In comparison to the 38 states and the District of Columbia that have already legalized sports betting, this prediction shows the substantial economic potential that Texas may be losing.
Neil Leibman, co-owner of the Texas Rangers, voiced strong support for legalizing sports betting. Speaking with FOX Business, Leibman emphasized the need for Texas to stay competitive: “Texas has always led the way in growth and opportunity, but we’re falling behind when it comes to sports betting.”
He further pointed out the financial benefits legalization could offer, stating, “Legalizing it would allow us to keep billions in revenue here at home, supporting crucial needs like education and lowering property taxes — all without raising other taxes.”
Leibman also highlighted the existing demand for sports betting in Texas. He stressed the importance of regulation, saying, “Texans are already betting; it’s time we make it safe and fair, while ensuring our state benefits. Letting Texans decide this issue is about economic opportunity and the freedom to choose.”
As the conversation around sports betting continues, this report and Leibman’s advocacy could play a significant role in shaping the state’s approach to legalization.