Texans have been betting billions of dollars — in other places

• Las Vegas Sands Corp., a casino and resort developer, has more lobbyists at the Legislature than any other company.

The big picture: Texans place more than $8 billion worth of bets annually, according to a study from Eilers & Krejcik Gaming, a gambling industry research firm.

• The study found that the state is losing out on nearly $300 million in tax revenue, based on a proposed 10% tax rate.
• Texans spend roughly $5 billion a year in the adjacent states and Las Vegas, Clyde Barrow, a gambling policy expert and a professor at the University of Texas-Rio Grande Valley, told the Texas Standard in December.
• Much of that money is wagered at casinos in Oklahoma and Louisiana.

The other side: Texas leaders have shown little appetite for more legalized gambling, despite the lobbying push.

State of play: The state constitution restricts gambling, so even if these bills pass, they would require a statewide referendum in November.

• A poll from the University of Houston's Hobby School of Public Affairs found that 75% of Texans support legalizing more gambling.

What's next: A Sands spokesperson tells Axios that the company has a study underway that could give a clearer view of the revenue Texas casinos could generate.