The Texas House of Representatives’ State Affairs Committee is to run the rule over a new bill that proposes legalizing certain forms of sports betting in the US state.
Introduced earlier this year by Democratic Representative Harold Dutton, House Bill 1121 sets out plans to legalize sports wagering via the internet and similar platforms.
The Texas Department of Licensing and Regulation would assume responsibility for overseeing the market, including awarding licenses to any operators wanting to launch in the state.
Licenses would cost $250,000 each, though only five permits may be issued at any one time.
If more than five operators apply for a license, the Department would select the operators that it determines would best adhere to licensing requirements and maximize sports betting revenue for the state.
Operators that secure a license would be subject to a tax rate of 6.25% on sports betting revenue generated in Texas. This would be payable to the Department on a monthly basis.
Consumers would be able to wager on both professional and collegiate sporting competitions, with the exception of college games involving teams based inside Texas.
Should the bill gain all the necessary approvals, it would come into law from January 1 next year.