Back in 1989, Jerry Jones bought the Dallas Cowboys for a cool $140 million, and it looked like a major uphill battle to get the franchise back on track. Very quickly, he had turned the team into the dynasty of the 90s. So, if anyone is built to make the unthinkable happen, it might as well be Jones.
While a good portion of the United States has started to come around on sports betting, the state of Texas has been dragging its feet. Even when the big daily fantasy sports craze took the country by storm, there were still some limitations in The Lone Star State that didn’t exist with many others.
Lots Of Potential Revenue
According to one estimate, illegal sports betting in Texas generated an annual revenue of about $300 million. Imagine what the state, with an enormous population, could haul in legally if they allowed mobile betting.
Just recently, 68-year-old Texas resident Larry Tillery pleaded guilty to running what Homeland Security called “one of the nation’s largest illegal sports gambling and money-laundering operations.”
Tillery had been running this operation for around 30 years before the feds caught on, and that wasn’t even the biggest crackdown in the state’s history. In 2013, Southlake resident Albert S. Reed Jr., handled about $5 billion worth of sports bets over a four-year period.
Given all of these recent reports of illegal activity, it’s easy to see the interest for sports betting exists in Texas.
That’s where Jones and other wealthy owners come in, as they want to mirror states like New Jersey and Pennsylvania, which have seen massive revenue in its first year of existence in this space.
“Some aggressive owners see benefits,” said Casey Clark., senior vice president of strategic communications for the American Gaming Association.
Not So Fast
There is a huge snag in the plans, though. Rep. Eddie Lucio of Brownsville had initially proposed a bill in February that would’ve allowed Texas residents to bet on pro sports and select college games. However, the Texas GOP’s 2018 party made it clear they are officially opposed to “the expansion of legalized gambling.”
For all the hurdles there are, people have certainly tried to persuade the GOP in the other direction. Two Native American casino groups have donated more than $5 million combined to Texas officeholders and candidates since 2006, while Tilman Fertitta (from Houston and owner of the Golden Nugget Casinos), has donated more than $500,000 to Texas Governor Greg Abbott.
The NFL and other pro sports leagues seem to be at a disadvantage with their teams that reside in states with large populations. California, Florida, and Texas all don’t have legalized sports betting, but plenty of teams playing within the state’s borders.
As the question was posed on Pro Football Talk today, would this decision on sports betting have an impact on potential franchise relocations? Now that massive amounts of money are changing hands in this space, could places like San Antonio and San Diego be passed up in favor of smaller locations that allow sports betting?
One thing is for certain, though. Jones and Dallas Mavericks owner Mark Cuban are two of the most shrewd businessmen in the world. For them not to have such a massive stream of revenue in their backyard, while a good portion of the country does, is something they’ll certainly try to change at some point.
