The Oregon Lottery’s monthly sports betting revenue report for October reveals remarkable achievements by DraftKings, the state’s licensed sports betting operator. DraftKings recorded an impressive $71.9 million in wagers, marking a substantial 17.2% increase from the previous month and a noteworthy 29.4% surge year-on-year.
Record Revenue Figures:
Revenue Milestone: DraftKings achieved a record revenue of $8.5 million in October, showcasing a robust win percentage of 11.9%. This revenue figure reflects a significant 26.9% increase from September 2023 and an impressive 49.1% surge from October 2022.
State Collections: The state collected approximately $4.3 million in revenue, underscoring the positive economic impact of DraftKings’ thriving sports betting operations in Oregon.
Sports Wagering Insights:
Football Dominance: Football emerged as the most popular sport for wagering, attracting bets totaling $27.2 million.
Diverse Betting Landscape: Basketball generated a substantial handle of $8.1 million, while baseball witnessed a significant $7.4 million in bets. Other sports like soccer, tennis, and ice hockey also contributed significantly, each attracting over $5 million in wagers.
Year-to-Date and Historical Context:
Year-to-Date Wagering Volume: Sports bettors in Oregon have collectively wagered an impressive $530.5 million in the first ten months of 2023.
DraftKings’ Impact: Since DraftKings took over as the state’s sole sportsbook in January 2022, the cumulative sports wagering volume has surpassed $1.02 billion, reflecting the enduring success and popularity of DraftKings in Oregon.
Leadership Announcement:
In August, Governor Tina Kotek appointed Michael Wells, who served as interim director of the Oregon Lottery since December 2022, as the permanent director. Wells now holds the position of secretary and executive officer of the Oregon Lottery Commission, overseeing the administration and management of the agency.
DraftKings’ outstanding performance in Oregon, evidenced by record-breaking wagers and revenue figures, underscores the robust growth and sustained popularity of sports betting in the state. As the collaboration between DraftKings and the Oregon Lottery continues to thrive, the positive economic contributions and entertainment value brought to the region are unmistakable. The achievement of surpassing $1.02 billion in sports wagering since DraftKings’ exclusive operation highlights the enduring success of the partnership and the vibrant sports betting ecosystem in Oregon.