One of the bills would let voters decide whether to change the state constitution to legalize sports betting. The other sets the rules for sports betting.
Legislators say Texas will receive $ 1.8 billion in 10 years if sports betting becomes legal, and they estimate that there is currently $ 5 billion in illegal bets placed every year.
After the bills have been submitted, they must be assigned to the committees for review and consultation.
KVUE spoke to professional sports handicapper Lee Sterling about what legal sports betting could mean for sports fans across Texas.
"You will see bigger crowds at games because they want to be involved. You can bet on in-game stakes and individual games, and the fans will want to stay there until the end of the games. It's exciting and if done right, think I think it's a win-win for everyone, "he said.