Texas on the Brink of Legalizing Sports Betting by 2025

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00:00Let's close it out with another state that may get sports betting in the future.

00:08Not quite as complicated as I think California is going to be because of the tribes that

00:12may control a lot of the operations there, and that is, of course, Texas.

00:16This just seems like, Pat, a vote away from this becoming a reality.

00:21Maybe in 2025 and then with legalization officially in 2026, the amount of money that's being

00:26backed to get sports betting to Texas is just huge.

00:30I would imagine this will be a big story for us next year.

00:33I mean, we're going to watch this so closely next year because, of course, like you said,

00:38it's one of the biggest states.

00:39A study just came out that said it could be the largest handle of any U.S. market annually

00:44once it's mature, which is pretty nuts.

00:48And yeah, we've talked a lot about how Lieutenant Governor Dan Patrick is very adamant that

00:52gambling won't pass as long as he's kind of in charge of the Senate in Texas, which

00:56of course could be up in 2027.

00:58So a lot of industry stakeholders are saying this is a big year that we're going to try,

01:03but 2027 is more likely.

01:05But here we are.

01:06Miriam Adelson, who, of course, bought a majority stake of the Dallas Mavericks from Mark Cuban,

01:11is just doubling down.

01:12She put in a lot of money before she owned the Mavericks and before the 2023 session.

01:18And now through the first 10 months of this year, she put in $13 million to different

01:23PACs that then distributed it to different legislators.

01:27She really wants casino and gambling, which, again, makes sense.

01:31It's a giant market, lots of potential, and so do Mark Cuban and Jerry Jones.

01:35So there's a lot of big voices, a lot of big money behind it.

01:39Whether that moves the needle in the Senate, that needs to be done because, of course,

01:42a bill passed the House in 2023, they only meet every other year.

01:47I bet it passes the House again this year.

01:49Does it pass the Senate?

01:51Not really, unless somehow Dan Patrick changes his tune.

01:55But Adelson's doing her best.