Legalizing sports betting in Texas would pay huge dividends, study says [Video]

Texas remains one of 11 states where sports betting is illegal, and a new study showed government officials may want to get with the times.

Eilers & Krejcik, an independent research firm, conducted a new study showing sports betting would pay off for the state of Texas, FOX Business has learned.

The study, “Legal Online Sports Betting In Texas: Revenue Forecast And Economic Impact Analysis,” estimates the market could generate over $360 million in direct tax revenue for the state, while adding over 8,000 jobs.

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The report estimated Texas would benefit from over $2.6 billion annually in economic output, adding non-gaming tax revenues generated from legal sports betting are expected to total $24.3 million per year.

Texas Rangers co-owner Neil Leibman is all for bringing legalized sports betting to the state.

“Texas has always led the way in growth and opportunity, but we’re falling behind when it comes to sports betting. Legalizing it …