Lucio introduces sports betting bill to Texas legislature

Texan politician Senator Eddie Lucio, Jr.: District 27 has introduced sports wagering bill H.B. 1275 to the House.

The bill proposes the regulation of sports betting, a licensing regime, tax scheme and the clarification of criminal offences.

Under the proposal, sports wagering on professional sports would be legalised for Texans over the age of 17-years-of-age.

The Texas Department of Licensing and Regulation would be responsible for overseeing sports wagering in the State and authorised to operate a sports betting platform whose profits would be directed to the State’s foundation school fund.

The bill makes provision for “no more than” five sports wagering licenses at a cost of $250,000 each and a renewal fee of $200,000.  Tax rates would be set at 6.25 percent on each wager.

The text can be read here.

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