Getting the Sports Betting Bill to Prevent Professional Sports Betting From Being Illegal
If you have ever considered placing bets on sports, chances are that you either don’t know how or you don’t have a very good idea of where to bet. According to one poll, only 25 percent of Americans think that they can place sports bets, with another quarter claiming that they wouldn’t even take the time to try it. Unfortunately for these folks, there are a lot of sports betting options in Texas. Let’s explore some of the best in the state.
First of all, Texas is home to the Texas Alcoholic Beverage Commission, which oversees many aspects of Texas alcohol sales and regulation. Currently, a bill is filed which would allow and regulate sports betting, including online and mobile betting which may require a constitutional referendum to modify the existing constitution. If passed into law, it’s expected that the TABC will begin taxing sports betting from April through December, thereby creating a significant source of new tax revenue for the state. Sports book odds would be based on the outcome of each game, so Texas sports betting could become a major business once again.
Secondly, some of the nation’s most famous sports gamblers reside in Austin, Texas, including Texas A&M University, which happens to be located right in the heart of the State. In fact, Aggie Eggertsen owns one of the most prominent sportsbooks in the country, whileedy’s Bill Gillispie is the owner of one of the most prominent Las Vegas sportsbooks. Both men own many different brick and mortar sportsbooks, and they have been doing so for quite a long time. Bill Gillispie has managed to turn Aggie Eggertsen’s flagship sportsbook into one of the most successful college football books in the nation. It is no wonder then that Texas A&M students and others in the Lone Star State enjoy putting their money on Aggies and Mizzou football games.
Of course, the recent passing of Senator John McCain and Governor George Allen has had an impact on the sportsbook industry across the nation. Since the two men are considered to be moderate Republicans, chances are that any attempts by Congress to overturn legalized sports betting in Texas are going to be considered extremely unlikely. However, for the time being, the betting establishment in Texas is very happy with the ruling, and it is looking forward to welcoming the legalization of sports betting in Texas to the rest of the country.
The final bill that was introduced into the Texas legislature would put a cap on how much a sportsbook could charge an individual for sports betting throughout the year. The current law allows for a sportsbook to take in more than fifty percent of a profit from one sportsbooked football game. The proposed legislation would put a cap up to a maximum of the 2070 dollars on the amount of per game that a sportsbook can take in. This would essentially make Texas the biggest sportsbook in the country, and it’s almost guaranteed that a sportsbook located in Texas would put up a huge profit. In fact, the Texas government has already announced that it would be looking into the matter of whether or not to increase the limit on sportsbooks in the state.
Two-thirds of the profits would have to come from Texas residents, and the other one-thirds would have to come from out of state sports franchises. The idea behind this bill is to give the legal sports books in the Lone Star State the incentive to remain in the state by providing them with enough money to stay in the state. It would be difficult for a sportsbook to stay in Texas if half of its profit was going to out of state sports franchises, but it seems as though the state and its representatives understand the importance of maintaining sports franchises in the Lone Star State.
The final piece of the proposed bill has to do with college students who wish to be able to bet on sports betting. Many college students feel that they are being unfairly denied access to what should be a free activity for them. The reason for this is because some universities actually have policies that prevent students from being able to bet on sports betting outside of their homes. The legislature realizes that this problem is an important one for college students, and they want to make sure it never happens. If a student wishes to be able to bet on college football games, the legislation would make it so that he or she can do so.
Hopefully, the House and Senate will be able to work together to get this sports betting bill passed. This will help protect the rights of individuals to bet on professional sports, something that the previous Congress did not do. There are a lot of people who bet on sports, but few of them have any legal rights to do so.