Yesterday (May 11), HJR 102 was approved by the Texas House with a vote of 101-42 and will now move to the state Senate for further discussion. If the bill is enacted, it would not directly legalize betting, but instead allow for a statewide vote to be conducted on the matter, which is scheduled to take place on November 7 of this year.
On the same day, the accompanying HB 1942 bill, which outlines the operation and regulation of the market, was also passed by the House with a vote of 82-51.
The key provisions of the bill include a 15% tax on adjusted gross sports wagering for licensed operators in Texas. Originally set at 10%, this rate was increased after an amendment was passed earlier this week.
The Texas Lottery Commission would be responsible for granting licenses to offer sports betting in the state and overseeing the market’s regulation.
Applicants seeking to obtain a sports wagering permit would be required to pay a $2.0m fee, which would be reimbursed if their application was unsuccessful, minus any Commission expenses incurred during the process.
The Commission would also offer service provider permits for applicants who want to work with licensed operators in the state. Each of these permits would cost $25,000.
If both bills are passed and approved by voters, the law would take effect from January 1, 2024.
