Oregon Sports Betting Revenue
Oregon sports betting revenue is underperforming its potential due to the state’s single-platform system.
The Beaver State’s fortunes would improve significantly if the latest sports betting bill authorizing multiple operators successfully passes through the legislature in 2021.
In the meantime, we’re using this page to keep you informed with the most important details and analysis of monthly Oregon sports betting revenue reports. Here’s everything you need to know about the business of betting on sports in the Beaver State.
Oregon Sports Betting Revenue: Month-By-Month Data
Sports Betting Dime keeps track of the growth of legal sports wagering by tallying monthly financial reports provided by each state.
Here’s what each number represents:
- Handle is the total amount wagered on sports.
- Revenue reflects the gross gaming revenue kept by sportsbooks after paying out winning bets.
- Hold percentage shows how much revenue sportsbooks kept as a function of the betting handle.
The table below shows Oregon’s sports betting handle, gross revenue, and resulting hold percentage each month since the state introduced its Scoreboard app in October 2019.
|Month/Year||Total Handle||Revenue||Hold Percentage|
|Total (since launch)||$832,296,355||$74,146,158||8.9%|
Sports Betting Dime will update this table monthly with the figures provided by the Oregon Lottery.
OR Annual Sports Betting Revenue Totals
The Oregon sports betting market has seen slow but steady growth since its launch at tribal casinos in August 2019. The Oregon Lottery launched its own Scoreboard app in October 2019 in partnership with SBTech and is currently the only online sportsbook available.
The table below displays annual financial figures for Oregon’s sports betting industry.
Unfortunately, Oregon does not currently provide figures for state tax revenues collected, although it has the lowest sports betting tax rate of any state (2.3 percent). Note that the data provided by the Oregon Lottery does not include tribal sports betting.
|Year||Total Handle||Revenue||Hold Percentage|
We anticipate these numbers will increase substantially in the future if and when Oregon moves beyond its current state-sanctioned monopoly system.
Latest OR Revenue News
Here’s a quick synopsis of the latest news provided in Oregon sports betting financial reports.
November 2021 – The monthly betting handle in Oregon dipped slightly through November 2021, coming in at $32,673,216.
October 2021 – Oregon set a new state record for monthly betting handle, hitting a figure of $37,639,041 through October 2021.
September 2021 – Oregon sports betting pulled in $25,070,339 on sports wagering through the month of September, mostly thanks to the start of the NFL season. However, the monthly revenue didn’t increase too much, coming in at the $1,259,744 mark.
August 2021 – Monthly sports betting handle in Oregon continued to fall through August, reaching a total figure of $17,686,198. This resulted in a net revenue of $1,063,135.
July 2021 – Oregon reports $18 million wagered on sports for the month of July, the state’s lowest betting handle since July 2020.
June 2021 – Oregon declares a betting handle of just under $25 million in June, with a gross gaming revenue of $2,841,767. Amidst the NBA Playoffs, basketball was by far the most popular sport to wager on, accounting for more than half of the betting handle. Baseball was a distant second at 22.4 percent of Oregon’s total betting handle.
May 2021 – The Oregon Lottery reports $27 million wagered on sports in May, the state’s tenth straight month with a betting handle of more than $20 million.
April 2021 – Oregon reports $25 million handled in April and gross gaming revenue of $2.7 million.
March 2021 – Oregon’s monthly betting handle drops to just $24 million in March. Laws restricting bettors from wagering on college sports prevent the state from receiving any of the enormous betting volumes March Madness generates elsewhere.
February 2021 – The Oregon Lottery reports over $29 million wagered on sports in February. The Super Bowl generated almost $3.5 million in wagers, but basketball continues to be Oregonians’ favorite sport to bet on.
Oregon Market Overview
To understand the sports betting market in Oregon, we must keep in mind some key information.
State Population (2020 Census):4,237,256
In-state Pro Teams: Portland Trail Blazers (NBA), Portland Timbers (MLS), Portland Thorns (NWSL)
Launch Date: August 27, 2019
Biggest Monthly Handle: $37,639,041 (October 2021)
Regulator: Oregon Lottery
Platforms: Online and retail
Tax Rate: 2.3 percent
Oregon Sports Betting Revenue Insights
Oregon does a lot of things right when it comes to sports betting. The Beaver State was quick to legalize sports wagering, launching long before its equally liberal West Coast neighbors. Online betting is available, and the current tax rate is the lowest in the country, which in most cases would make for a competitive, bettor-friendly market.
However, two key regulations are currently holding the Oregon market back: the state’s choice to implement a single-source system, and not allowing wagers on college sports through the Scoreboard app.
Here are some themes we’ve noticed when examining Oregon sports betting revenue reports.
Simply put, Oregon is missing out on millions of dollars in sports betting revenue every year by clinging to its state-sanctioned monopoly. Luckily, Governor Kate Brown appears to be aware of this, as she proposed a new bill (HB 2127) that would expand the industry in 2021.
Here’s how Oregon’s sports betting handle for the first two months of 2021 compares to US sports betting markets with similar or smaller populations.
|State||Census Population||Betting Handle (January-February 2021)|
Surprisingly, Oregon even ranks below some retail-only sports betting markets in the United States, such as Mississippi ($115,515,202 wagered in January-February 2021).
The fact that New Hampshire, with less than a third of Oregon’s population, outperforms Oregon by tens of millions in handle each month is noteworthy. New Hampshire sports betting also operates with an online monopoly, but DraftKings runs theirs instead of a state lottery app.
Clearly, DraftKings is doing something right over in the Granite State. Perhaps it’s not surprising then that Oregon Lottery Director Barry Pack recently announced the state is in talks with DraftKings. Both sides appear to want DraftKings to transition the Scoreboard app over to their platform. As DraftKings proved in New Hampshire, well-established brands generate more betting activity, even in smaller states with monopoly systems.
Missing in Action: College Sports
Oregon is home to several of the country’s most recognizable and beloved college sports programs, including the Oregon Ducks and Oregon State Beavers. College sports are incredibly popular in the state, especially as Oregon doesn’t have many professional teams. And yet, the Oregon Lottery currently prevents bettors from wagering on college sports except when visiting tribal casinos.
While several states restrict bettors from wagering on in-state college teams, the Oregon Scoreboard app doesn’t have any college sports betting at all. Revenue-wise, this is particularly devastating in the spring, when Oregon misses out on one of the biggest betting events of the year: college basketball’s March Madness tournament.
Recent reports show an 18 percent drop in Oregon’s betting handle from February 2021 to March 2021. When sportsbooks around the country are generating huge betting volumes on March Madness, Oregonians are left out of the action. Basketball is the most popular betting market in Oregon, but restrictive rules leave bettors in the Beaver State eager for more.
Thankfully, Oregon lawmakers realize the industry isn’t as lucrative as expected, and change is on the horizon. Bill 2127 would expand the industry and allow betting on college sports. That said, leagues and Oregon universities would also be permitted to ban certain bet types on their sports. There’s still plenty of details to be discussed by lawmakers, but HB 2127 has a strong chance of passing thanks to Governor Brown’s support.
Keep an eye on the Beaver State
Oregon’s sports betting industry has been underperforming thus far and is one of the smallest markets in the United States. However, that could soon change if more operators are allowed in the state or even if DraftKings becomes the primary operator.
Will Oregon live up to its liberal, open-minded identity and become a competitive West Coast sports betting market, or will it be stuck falling behind for another year?
Sports Betting Dime will keep you updated with the latest Oregon sports betting information, via our Oregon state page. To see how OR compares to other states, be sure to explore our state-by-state sports betting revenue tracker.
Have fun and enjoy the action out there!