Plans implementation on January 1, 2020
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:
https://capitol.texas.gov/Search/DocViewer.aspx?ID=86RHB012751B&QueryText=gambling&DocType=B