Compared to August 2021, Oregon sports betting handle this past month is up. But the latest numbers still showed a slight decline from July’s figures.
Oregon racked up $28.2 million in sports betting handle for August, according to iGaming Business. In that same month in 2021, the state netted a sports betting handle of $17.7 million – a 59.3% increase year-on-year.
August marked roughly a $300,000 decline from July, which claimed a sports betting handle of $28.5 million.
The state’s sports betting handle has continued to dip over the summer, where it was $34 million in June — a 16.2% decrease. July’s handle was up 60% from the same month in 2021.
Breaking down Oregon’s sports betting revenue in August
DraftKings is the exclusive legal sportsbook in Oregon, as the state opted to transition from Scoreboard in January of this year. You can no longer place a bet with Scoreboard, but any open wagers placed before the move will still be honored.
Given how customers can no longer place wagers with Scoreboard and only win money off previously placed bets, the sportsbook noted a loss of $1,206 in August, which was expected.
DraftKings, however, brought in $2.7 million in revenue for the month. That total remains much higher – 145.5% more, to be exact – than August 2021’s $1.1 million mark.
Additionally, DraftKings’ revenue in Oregon matched its total from the previous month; the sportsbook generated $2.7 million in July of this year.
Oregon sports bettors bet hard on baseball this August
With football still not yet in full swing in August, Oregon bettors placed the majority of their wagers on baseball. $13.9 million was bet on baseball in Oregon, according to iGaming Business.
That total handle resulted in $1.5 million in revenue.
Soccer and tennis were the other most popular sports to bet on during August in Oregon.
Soccer brought in $41 million in wagers, generating $386,559 in revenue. Tennis bets produced $2.8 million as well, with $265,324 coming in revenue.
iGaming Business noted that DraftKings took a total of $21 million in single and teaser bets last month and $8 million in parlay bets.
What’s the deal with the sports betting monopoly in Oregon?
In 2019, the Oregon Lottery partnered with SBTech to operate its Scoreboard online sportsbook, cementing the state’s first official legalized sportsbook.
But from there, DraftKings took over as the state’s lone provider. DraftKings’ expansion into Oregon in January 2022 marked the 16th state the sportsbook called home.
That may change, though. The group Sports Oregon is pushing for the state to break free of the DraftKings monopoly. The organization is backed by major business and professional sports teams such as:
- Adidas
- Nike
- and the Portland Trailblazers
It will hopefully be just a matter of time (and major lobbying) before sports betting breaks free and expands into the free market in Oregon. Which could benefit the state by way of tax revenue.
