There was a gay bar not to far from me that used to do drag queen bingo brunch, so this doesn’t seem too far off a stretch, though I’d suspect our delightful Texas State government would find reason to criminalize it were somebody to try doing it here.
I never got around to going to the drag queen bingo brunch, so I don’t know if it was for cash. Knowing how Texas works, it was probably for low value prizes.