Jack Pardee will coach the new Houston Gamblers of the United States Football League. The former coach of the Washington Redskins and Chicago Bears had been out of football a year.

"We want to win, but we want to do it in an entertaining way," said Pardee, once coach of the year in the National Football League. "We don't want to put people to sleep.

"I've been called a conservative coach, but I think that's a bad rap," he said. "You have to build according to your personnel, and we hope to have the personnel for a wide-open game."

Jerry Argovitz, the managing general partner, said he told Pardee "I would rather go . . . see a game that was 45-42, even if my team lost."

Pardee, 47, leaves a sales job with a company involved with oil drilling.

Pardee beat out Marv Levy, the former Kansas City Chiefs coach and Redskins assistant . . .

Owner Al Davis of the Los Angeles Raiders could save $1 million in federal taxes because he invested in a Teamsters pension fund deal with Allen Glick, the Chicago Tribune said, reporting that in 1974 Davis paid Glick $5,000 for 25 percent interest in Eastmont Mall in Oakland. Davis was not available for comment, but George Lehr, admistrator for the Teamsters' Central States Pension Fund, said the Tribune information is correct . . .

The Washington Federals deactivated center Tony Loia, who sprained his left knee in last Sunday's loss to New Jersey, and released defensive tackle Ron Fernandes. Offensive tackle Leroy Robinson, signed Monday, was activated.