Jerry Jones, the owner of the Dallas Cowboys, recently reaffirmed his long-standing support for legalized sports betting in Texas, pointing out that the state is losing out on significant tax money by not allowing mobile sports wagering.

During a media session held this week after a Cowboys practice, Jones expressed his belief that sports betting will someday be legalized in the Lone Star state. However, he also stated that Texas is losing out on a big tax revenue potential until that time.

"I think ultimately you’ll have sports betting in the state of Texas. Until that time, the state does lose an opportunity for huge amounts of revenue,” the Cowboys boss said.

While Jones refrained from speculating, it seems improbable that the state will allow mobile sports betting before the 2027 legislative session. It is feasible that Texas might offer mobile sports betting prior to the 2028 football season if it takes place at that time and is approved by voters later that year.

Jones Wants Texas Sports Betting to Be Transparent

Jones and other Texas-based professional team owners have been strong proponents of legalized sports betting as it would be profitable for both the state and their own clubs.

A regulated sports betting industry may bring in $250 million for the state, according to former governor Rick Perry (R-TX). This is based on an estimated $8.7 billion in revenue from the black market. The amount that sports betting will bring Texas financially is a matter of discussion among analysts and industry watchers, with some questioning the $8.7 billion estimate. Beyond the financial consequences, Jones wants Texas to execute sports betting in such a way that it’s fair and transparent.

“I think that properly, properly supervised, by the people that play the games and people that have the teams that play the games and the individual athletes — you’ve got to make sure that the perception is and the reality is that there’s just no compromising on it all being very competitive and up-and-up,” he told the press. “I think that takes some time in some places more than it does others.”

Jones owns a stake in a few gaming ventures, including an Arkansas casino venture. As an early investment in DraftKings (NASDAQ: DKNG), he was among a number of other professional team owners.

Texas Sportsbook Prospects

Although Texas's casino and sports betting laws advanced in 2023 compared to earlier years, they eventually failed due to a lack of support in the state Senate for the relevant legislation.

The Senate proposals that are considered are chosen by Lt. Gov. Dan Patrick (R), whose opposition to the expansion of gaming is well-established.

The Texas legislature's short schedule in this election year made it challenging to take up gaming-related matters. The legislature is set to meet again in January, but inside the sports betting community, word has it that lawmakers won't give sports betting any priority.