The lake is owned by the Tarrant Regional Water District and the water impounded is used for flood control, residential and commercial sales, irrigation, and recreation.

Lake Bridgeport has its origins as Bridgeport Reservoir, a component of the Trinity River canalization plan to prevent flooding along the West Fork of the Trinity River.

Lake Bridgeport is a popular freshwater fishing destination for anglers.

Wise County Park, (located on the northern end of the lake) provides camping and day use facilities.

This article about a location in Wise County, Texas is a stub.