As most of you know by now, there is no legal sports betting passed as a whole in the state of Texas, which is something that people continue to be upset about Despite that, however, people continue to find ways to get in on the action, with prediction markets of course leading the way. With that said, things reached a new level this spring, as there's no question at all that NBA Finals betting was on fire in Texas thanks to the Spurs.
Throughout the postseason, San Antonio was on fire, with Mitch Johnson's player doing a fantastic job. The led to upsetting the Thunder in the Western Conference Finals. However, it terms of rough Texas betting news, the Spurs suffered a loss to the Knicks with the NBA Final with the Larry O'Brien Trophy on the line. While that loss stung, all of the bets placed spoke to the popularity of things in the state, despite things not being legalized yet.
"Americans wagered more than $160 billion in 2025, according to ESPN," reporter Zaria Oates said in a recent piece. "In all legal measures, the sports betting industry brought in $16.9 billion in revenue. The national boom collided with a very different reality in Texas. Betting on the outcome of sports games remain illegal in the Lone Star State despite legislative efforts to legalize the practice."
Per Oates, the San Antonio Police Department even reminded people in the city that betting on the Spurs in the NBA Finals could have led to charges of a Class C Misdemeanor. However, there was a workaround for people there, which fans were able to take full advantage of with the prediction markets. The Spurs are built to push for titles in the future, but losing to the Knicks sure felt like a bit of a setback.
Thank you Spurs Family! Y'all showed up and were there for us when we needed y'all every step of the way this season. From San Antonio and everywhere else Silver and Black fans call home, we felt the energy and support all year long. Together. Always. Por Vida. 🤍🖤 pic.twitter.com/lpcg35Q6IQ
— San Antonio Spurs (@spurs) June 14, 2026
Prediction markets could help pave the way for Texas sports betting in the future
As has been the case in other states in recent months, you really could make the argument that prediction markets could help pave the way for Texas sports betting in the future. The main argument being made right now is that sports betting is booming in Texas on Kashi and PolyMarket. Those two outlets have seen things really take off in the state in terms of sports betting, which isn't a surprise at all.
They provide people with betting options in a state where sports wagers aren't legalized yet. However, only futures bets are allowed, meaning that a wide variety of betting available in other places has not made its way to Texas yet. This is something people are hoping changes in the near future, though 2028 is looking like the earliest things are going to get done there in that department.
The biggest issue here for Texas is that millions of dollars are being wagered, but the prediction markets aren't kicking back a time of revenue or profits to the state. That's something that could be fixed with legal sports betting, as Texas would be able to make a small fortune each month with sports betting tax revenue. This more time passes, though, it results in more money that Texas is going to miss out on, which can't continue in our book.
Missing out on World Cup action is a wasted opportunity for Texas as well
As we've said multiple times here at OSB, there's no question that missing out on World Cup action is a wasted opportunity for Texas as well. With several key games taking place in Dallas, loads of World Cup betting is taking place for this huge tournament. And with things heating up right now as well, more of the same will be on the way over the next month or so.
So, moving forward, this add to the urgency for the laws to change. For now, the expectation is that we're all going to have to wait until 2028 for a positive change to arrive. At the same time, could changes in the political climate help out things as well? Obviously, a Governor change could play a role in things.
For now, we all need to wait a little bit for the right sports betting bill to arrive and hope that people can meet in the middle on things too. Texas is one of the biggest states in the USA, and not having sports betting continues to set the state back a bit. The hope is that people won't have to leave in the future for their full sports betting needs, but as things stand, that's exactly what has to happen in most cases.
