In America, 38 states including Washington D.C. have some form of legal sports betting. Texas is one state where sports betting is still trying to break through. There is no denying the popularity of sports betting and the revenue it can create for a state. However, many Texans are against adding a regulated commercial sports betting market to the Lone Star State.
During a recent interview with CBS News, Dallas Cowboys co-owner Charlotte Jones spoke about her support for the legalization of sports betting. Jones is interested in removing the “bad actors” from the market, referring to the illegal offshore markets that steal millions of revenue annually.
She told CBS News that there are illegal offshore apps that target kids who are in the high school and collegiate demographic. Sportsbooks allow underage users to place wagers on their black market sites without having to verify any information. Making the Texas market safe for high school and college students is a main priority for Charlotte Jones.
How else could Texas benefit from a regulated sports betting market?
Cowboys co-owner Charlotte Jones wants to make the betting market safe for high school and college students. However, that is not the only benefit she sees from sports betting. In her interview with CBS News, Jones mentioned how Pennsylvania generated $640 million in tax revenue over five years of legal wagering. Texas is the second-most populated state behind California and they’re missing out on millions of revenue without a legal sports betting market.
Additionally, the Cowboys are one of the most marketable brands in all of sports. Co-owner Charlotte Jones is aware of that and that’s another reason she wants sports betting to be legalized in Texas. The Cowboys are valued at $9 billion by Forbes and Texas becoming a legal betting state would only help them grow even larger.
Many Texans are still resistant to the idea of legal sports betting
Texas is one of the least gambling-oriented states in the U.S. They have zero commercial casinos and have stopped previous attempts to legalize sports betting in the Lone Star State. There are more Texans against sports betting than there are for it. Charlotte Jones is working to help sway people in the other direction. Since sports betting was legalized in 2018, the NFL has generated more than $400 billion in wagers. Money that Texas has missed out on to make a profit.