Online sports betting; Is Texas missing out?

Parlays and teasers have become the norm in the sports world, and bets can be placed at the snap of a finger online.

Unless you live in a state where sports gambling is illegal, like Texas.

An Abilene sports fan said, “If it’s pretty much allowed in a lot of other states, I don’t know why Texas would hold back on it. There is a casino in Texas, and I think should just start moving forward, like with other things as well.”

Some in Texas feel they’re missing out on the party, and the same could be said for the economy.

According to a study by Eilers and Krejcik, sports gambling could pay off big time if legalized in Texas. The study estimates an $360 million dollars in tax revenue and over 8,000 jobs added to the state’s economy.

Dr. John Hill, Hardin-Simmons University Professor of Economics, said, “This is one more thing that is part of a portfolio of taxes that can help a public sector do better. Broad base, we’re taxing everything, including this new industry. If it comes to Texas, online gambling, along with everything else, that just helps like a mutual fund. It helps balance the portfolio of revenues.”

As is the case in the 39 states with legalized sports gambling, the revenue can help a variety of programs across Texas.

Dr. Hill added, “There’s any number of things that this could go to. Typically, what people ask for, are meat and potato issues. Whether it’s border, whether it’s education, all those meat and potatoes issues, this is just one more revenue stream that will scratch that itch.”

With the potential to boost the economy and appease sports fans, some are asking what holding things up.

State representative David Spiller said, “Well first of all, I don’t think it has sufficient support in the Senate and the House to pass. Addiction to sports gambling or to any gambling is very, very real. I’ve known people that have been addicted to it and known how it destroys their lives. I just don’t think that we need one more addiction that we open ourselves up to.”

Dr. Hill added, “People enjoy it. It’s a way to interact with your friends, it’s a way to interact with the sport., I think the market is there for this. It’s going to be interesting to see how the state decides on whether or not it becomes a reality.”

Like the trend has been nationwide, sports gambling could become a reality here soon. Until then, Texans will have to wait to see what the Texas Legislature does in the current session.