In August, Oregon’s sports betting handle surged impressively by 59.3% compared to the same period in 2021, reaching an astounding $28.2 million. While there was a marginal 1.1% decline from July 2023’s $28.5 million, the Oregon Lottery reported a remarkable gross gaming revenue of $2.7 million, marking a significant 145.5% YoY increase.
Soaring Sports Betting Handle:
August proved to be a monumental month for Oregon’s sports betting industry, witnessing an unprecedented 59.3% year-on-year growth in the betting handle. The total amount wagered by enthusiastic Oregon bettors amounted to a staggering $28.2 million, showcasing the growing popularity of sports betting in the state.
Impressive Gross Gaming Revenue:
The revenue generated in August was nothing short of impressive, hitting $2.7 million, which aligns perfectly with the revenue figures from July 2023. This extraordinary 145.5% surge in YoY gross gaming revenue highlights the immense potential of the sports betting market in Oregon.
Baseball Reigns Supreme:
Among the various sports available for betting, baseball emerged as the clear favorite among Oregon’s bettors. An astounding $13.9 million was wagered on baseball events, signifying the sport’s strong following and betting activity in the region.
Transition from Scoreboard to DraftKings:
The Oregon Lottery’s Scoreboard online sportsbook, which has been gradually phased out, was replaced by the well-known betting platform DraftKings. Despite the transition, the Lottery continues to honor and pay out bets placed prior to this shift. DraftKings’ presence appears to have invigorated the market, leading to a revenue surge.
DraftKings Dominance:
DraftKings demonstrated its market prowess, accounting for the entire revenue generated in August. The platform recorded an impressive $21 million from single and teaser bets, with an additional $8 million worth of parlay bets. This dominance further solidifies DraftKings’ position as a key player in Oregon’s sports betting landscape.
Scoreboard’s Last Stand:
Before its complete transition, Scoreboard reported a loss of $1,206. Despite the dip in revenue, the platform continued to process bets, with $59 in single and teaser bets and $10 in parlay wagers.
Oregon’s sports betting industry has soared to new heights in August, with an astounding 59.3% YoY increase in the betting handle, signaling a thriving market. The remarkable $2.7 million gross gaming revenue, driven primarily by DraftKings, further exemplifies the industry’s potential. As baseball continues to reign supreme among Oregon’s bettors, the transition from Scoreboard to DraftKings has been relatively seamless, bringing exciting opportunities for both the platform and enthusiastic bettors alike. With a flourishing landscape and impressive figures, the future of sports betting in Oregon looks incredibly promising.