EKG: Texas sports betting legalization could give state $360m tax boost
Study, first reported on by Fox Business, points to 8,000 potential jobs as lawmakers prepare to debate topic in 2025 legislative session
A report from Eilers & Krejcik Gaming (EKG) has estimated Texas would benefit from more than $2.6bn annually in economic output should sports betting be legalized.
First reported by Fox Business, the boutique analyst firm has laid out its estimation in a study titled Legal Online Sports Betting in Texas: Revenue Forecast and Economic Impact Analysis.
EKG said a legal sports betting market in the Lone Star State could generate more than $360m in direct revenue for the state.
Non-gaming tax revenue following any legalization of sports betting would also amount to more than $24m each year, the analysts said.
In addition, more than 8,000 jobs could be added in Texas should lawmakers approve the vertical.
Texas has long been earmarked as one of the key future sports betting state launches, given it is the second-most populous state in the US and has the second-highest GDP, behind California on both fronts.
A sports betting bill was approved in the House in 2023 but was ultimately not debated in the Senate, allowing the bill to expire.
Lawmakers will bring the question of sports betting to the table again in the 2025 legislative session, which is set to open on January 14.
However, the House and Senate are both dominated by Republicans, with Lieutenant Governor Dan Patrick a staunch opponent of gambling expansion.
Speaking to Fox Business, Dallas Cowboys EVP Charlotte Jones said: “Texans deserve a safe and fair sports betting environment that helps fund critical needs in our state.
“By legalizing sports betting, we can protect our communities, enhance the fan experience and ensure Texas isn’t losing out to other states or the black market.
“As a mom and sports fan, I believe it’s time to let Texans decide how we move forward, ensuring our state benefits in a meaningful way.”