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A BILL TO BE ENTITLED
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AN ACT
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relating to the regulation of sports wagering; requiring |
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occupational permits; authorizing fees; imposing a tax; |
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decriminalizing wagering on certain sports events; creating |
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criminal offenses; providing administrative penalties. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. The Legislature finds the following: |
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(1) consistent with a 2018 United States Supreme Court |
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decision authorizing states to exercise their lawful prerogative to |
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license and regulate sports wagering activity, it is in the |
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interest of this state to authorize a strict regulatory model for |
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sports wagering; |
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(2) a legal, regulated sports wagering market will |
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help to deter unlawful sports wagering and provide for more |
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regulatory and law enforcement oversight over sports wagering, |
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while generating state revenue; |
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(3) any sports wagering enforcement and regulatory |
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structure must begin from the bedrock premise that participation in |
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a lawful and licensed sports wagering industry is a privilege and |
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not a right and that strict regulatory oversight is intended to |
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safeguard the integrity of wagering on sporting events and to |
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ensure accountability and the public trust; |
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(4) the most expeditious way to legalize sports |
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wagering in this state and to strictly regulate this activity is to |
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utilize the resources of the Texas Lottery Commission; and |
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(5) sports wagering within this state will be vested |
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in operators acting under authority of state law and will promote |
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trust and integrity in all sports wagering operations. |
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SECTION 2. Subtitle A, Title 13, Occupations Code, is |
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amended by adding Chapter 2005 to read as follows: |
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CHAPTER 2005. SPORTS WAGERING |
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SUBCHAPTER A. GENERAL PROVISIONS |
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Sec. 2005.001. SHORT TITLE. This chapter may be cited as the |
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Texas Sports and Entertainment Recovery Act. |
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Sec. 2005.002. DEFINITIONS. In this chapter: |
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(1) "Authorized sports entity" means: |
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(A) a sports entity; or |
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(B) a sports entity designee. |
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(2) "Cash equivalent" means an asset that is |
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convertible to cash and approved for use in connection with |
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authorized sports wagering, including the following approved cash |
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equivalents: |
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(A) traveler's checks; |
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(B) foreign currency; |
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(C) certified checks, cashier's checks, and |
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money orders; |
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(D) personal checks and drafts; |
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(E) digital and virtual currencies and |
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cryptocurrencies; |
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(F) online and mobile payment systems that |
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support online money transfers; |
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(G) credit cards and debit cards; |
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(H) electronic devices with prepaid access, as |
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defined by 31 C.F.R. Section 1010.100(ww); and |
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(I) any other form approved by the commission. |
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(3) "Class 1 racetrack" means a class 1 racetrack |
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described by Section 2026.102 that was in existence on January 1, |
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2023. The term includes an entity that operates a class 1 |
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racetrack. |
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(4) "College sport" means an athletic or sporting |
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event in which at least one participant is a team or contestant |
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competing on behalf or under the sponsorship of a public or private |
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institution of higher education, regardless of where the |
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institution is located. |
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(5) "Commission" means the Texas Lottery Commission. |
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(6) "Covered service" means any service that involves |
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the operation, management, or control of wagers authorized by this |
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chapter, including the development or operation of sports wagering |
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platforms and the provision of sports wagering odds and line |
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information and sports wagering risk mStatutes affected:
Introduced: Penal Code 47.01, Penal Code 47.02, Penal Code 47.09 (Penal Code 47)
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