{"id":250194,"date":"2022-12-28T15:45:31","date_gmt":"2022-12-28T21:45:31","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=250194"},"modified":"2022-12-28T16:22:58","modified_gmt":"2022-12-28T22:22:58","slug":"experts-question-perry-texas-sports-betting-forecasts","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/experts-question-perry-texas-sports-betting-forecasts\/","title":{"rendered":"Former Texas Governor’s Sports Betting Estimates Contain Hyperbole, Say Experts"},"content":{"rendered":"

Former Gov. Rick Perry (R) is overtly bullish on the idea of his state embracing mobile sports betting.\u00a0 But some experts believe his projections are more hyperbole than reality.<\/p>\n

\"texas
Former Texas Gov. Rick Perry (R). Some experts question his sports betting estimates for the state. (Image: New York Times<\/em>)<\/figcaption><\/figure>\n

Though he\u2019s not an avid bettor, Perry has skin in the game. The former Secretary of Energy is a paid spokesman for the Sports Betting Alliance<\/a> \u2014 a group comprised of professional sports franchises in Texas and gaming companies. He estimates that last year, Texans waged $8.7 billion on sports through illicit avenues, namely offshore websites and local bookies.<\/p>\n

Even if that number is accurate, it doesn\u2019t necessarily mean it will linearly translate to legal wagering venues if Texas approves mobile sports betting. Some industry experts doubt the credibility of that figure.<\/p>\n

Given the high level of uncertainty in this approach, this estimate should be treated as low-confidence,\u201d<\/strong> according to a recent report from research firm Eilers & Krejcik Gaming.<\/p><\/blockquote>\n

Eilers & Krejcik added that Perry\u2019s $8.7 billion estimate of illegal sports wagering in Texas is a\u201chighly speculative exercise,\u201d which makes sense. That’s because offshore sportsbooks and local bookmakers aren\u2019t reporting data to state regulators.<\/p>\n

Texas Sports Betting Would Be Big, But How Big?<\/h2>\n

In an interview with the Dallas Morning News<\/em>, Cara Gustafson, a spokeswoman for the Sports Betting Alliance, noted that there\u2019s undoubtedly an \u201cextensive\u201d illegal sports wagering market operating in Texas. Perry added the dollar figure of that activity is \u201csubstantial\u201d without getting into specifics.<\/p>\n

\n

Projecting what the economics of sports betting will look like in Texas is somewhat difficult. That’s because California and Florida, the largest and third-largest states respectively, don\u2019t permit mobile betting. The most relevant comparison is New York — the fourth-largest state.<\/p>\n<\/div>\n

Mobile betting in New York is nearly one year old and generated a handle of $13.3 billion, and revenue for operators of $1.1 billion as of November. That created $561.5 million<\/a> in tax receipts for state coffers.<\/p>\n

New York has the highest sports betting tax rate in the US — one unlikely to be copied in Texas — so the $561.5 million likely isn\u2019t relevant in the Lone Star State. Likewise, New York\u2019s $13.3 billion handle isn\u2019t transferrable to Texas because the latter\u2019s population is 40% larger than the former\u2019s.<\/strong><\/p>\n

In theory, that implies Texas\u2019s handle would be significantly larger. But it remains to be seen if sports wagering there is part of everyday cultural norms, as it is in New York and neighboring states.<\/p>\n

Another issue is that estimating the exact amount of illegal sports wagers placed in the US is arguably a futile endeavor. While Eilers & Krejcik say the number could be around $100 billion, other experts argue all forecasts to that effect are essentially worthless due to the lack of reliable data.<\/p>\n

Texas Sports Betting Outlook<\/h2>\n

For his part, Perry is clear in saying that while he supports Texas approving mobile sports betting, he\u2019s not in favor of broader gaming expansion<\/a>, including the addition of casino resorts.<\/p>\n

\n

Republican Gov. Greg Abbott, who easily won reelection last month, recently signaled he\u2019s more open to<\/a> casinos than previously speculated, and he\u2019s softened his stance on sports betting.<\/p>\n<\/div>\n

Ahead of the 2023 legislative session, there are pre-filed bills for sports betting and casinos. But previous related efforts in the state stalled.<\/p>\n","protected":false},"excerpt":{"rendered":"

Former Gov. Rick Perry (R) is overtly bullish on the idea of his state embracing mobile sports betting.\u00a0 But some experts believe his projections are more hyperbole than reality. Though he\u2019s not an avid bettor, Perry has skin in the game. The former Secretary of Energy is a paid spokesman for the Sports Betting Alliance […]<\/p>\n","protected":false},"author":46,"featured_media":250195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[61,18943,1074],"tags":[81901,82037,80968],"acf":[],"yoast_head":"\nExperts Question Perry Texas Sports Betting Forecasts<\/title>\n<meta name=\"description\" content=\"Rick Perry Texas sports betting estimates likely too high, according to experts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/experts-question-perry-texas-sports-betting-forecasts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Experts Question Perry Texas Sports Betting Forecasts\" \/>\n<meta property=\"og:description\" content=\"Rick Perry Texas sports betting estimates likely too high, according to experts.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/experts-question-perry-texas-sports-betting-forecasts\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-28T21:45:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-28T22:22:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/RP-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2048\" \/>\n\t<meta property=\"og:image:height\" content=\"1456\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/experts-question-perry-texas-sports-betting-forecasts\/\",\"url\":\"https:\/\/www.casino.org\/news\/experts-question-perry-texas-sports-betting-forecasts\/\",\"name\":\"Experts Question Perry Texas Sports Betting Forecasts\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/experts-question-perry-texas-sports-betting-forecasts\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/experts-question-perry-texas-sports-betting-forecasts\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/RP-1.jpg\",\"datePublished\":\"2022-12-28T21:45:31+00:00\",\"dateModified\":\"2022-12-28T22:22:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Rick Perry Texas sports betting estimates likely too high, according to experts.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/experts-question-perry-texas-sports-betting-forecasts\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/experts-question-perry-texas-sports-betting-forecasts\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/experts-question-perry-texas-sports-betting-forecasts\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/RP-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/RP-1.jpg\",\"width\":2048,\"height\":1456,\"caption\":\"Former Gov. 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