Anything is possible - you can even paint it on but that would be silly.
I actually do not like betting lines on tables. Just use forward motion in front of cards as your rule, as a lot of places do, and leave it at that. Depending on you table, you may have an issue with a betting line being unequally distant from the rail in some areas if it isnt done exactly right, causing issues. Also, it keeps people from angling: pushing chips right up to the line to get a response, but then not going over, really pisses me off and I think is bush league.
I do not really like speed felts so I am not familiar with the material and what can be done with it, but I am sure someone can do it for you.