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David Muradian looks on during the first day of in-person sports betting in Massachusetts. (Photo by John Tlumacki/The Boston Globe via Getty Images) Texas is among those states and would become the largest destination for legal sports betting if its bill passes. , though: In 2022, California, one of the sports gambling industry's most sought-after markets, failed to pass legislation to legalize sports gambling. ) "That's just a function of how many states have legalized. Marketing spend in sports gambling has hampered many casino operators from posting profitable quarters in their online gambling units amid a broader trend of risk-off trades in markets.

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