Democratic Sen. Carol Alvarado, of Houston, filed a bill proposing a constitutional amendment to legalize casino and sports betting. It would develop the Texas Gaming Commission and permit 4 casino resorts in big Texas cities. Penn Entertainment, with interests in regional casinos and resorts, as effectively as sports betting, gave $50,000 to the Texas 2023 Inaugural Committee. PrizePicks, which offers everyday fantasy sports contests, contributed $25,000. Of that $11 billion, the casinos, tracks and their online partners kept $726 million as revenue immediately after paying off winning bets and other expenses.
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Nevertheless, if the state were to give operators the green light in January 2023, it would come at the best time for betting on the college football playoff as effectively as the NFL Playoffs. For some perspective, Michigan pulled in a total deal with of practically $533m in January 2022, which generated $36.6m in income. Nebraska approved “games of chance” at licensed racetracks in the state in November 2021. A bill permitting retail sportsbooks has been passed but residents are awaiting more action from the regulators just before sports betting is adopted in the state.
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