Oregon does not have a large sports betting market, but the state has started 2021 in an impressive fashion. In January, Oregon experienced its highest sports betting handle to date.
The January sports betting handle was $34.9 million. Sports betting launched in Oregon in October of 2019.
Current State of Oregon Sports Betting
The record-breaking handle in January was significant because Oregon’s sports betting market has experienced some bad financial months. Sports betting has been occurring in Oregon for nearly a year and a half.
Oregon only has one mobile betting platform. This app is called ScoreBoard, and it’s run by the Oregon Lottery. No other online providers can operate in the state. Oregon also has two retail sportsbooks at the state’s tribal casino properties.
There is no betting allowed on college sports in Oregon on the ScoreBoard app. This regulation, along with an underperforming and inadequate mobile platform, has constricted the state’s market. These facts make the January handle record remarkable.
January Sports Betting Records
The $34.9 million total was the highest ever in Oregon sports betting history. The December total was slightly under $27 million, so the month-to-month increase was 29.5%.
The January handle was the highest since Oregon launched mobile sports betting in October of 2019. Oregon was $200,000 short of surpassing their highest revenue amount of all-time. This is a very positive sign for state betting officials in Oregon.
Oregon’s total handle for 2020 was $218.2 million, which turned into $20.1 million in revenue. 2020 was the first full year of legal sports betting in Oregon, so there is no full-year data available for comparison.
Basketball was the highest wagered sport in January, followed by football. These two handles were $17.4 and $10.3 million, respectively. Soccer ($2.5 million), table tennis ($1.7 million), and hockey ($1.1 million) were the next highest handles in the state. Oregon was the first state in America to report its January numbers.
New Oregon House Bill
Oregon has a very restricted sports betting market. Governor Kate Brown started the process of amending the current Oregon sports betting market. She did this by requesting the proposition of House Bill 2127.
House Bill 2127 would make the Oregon Racing Commission the state’s new sports betting regulator. This change would increase the number of operators throughout the state. Bettors would have the ability to wager on more betting platforms besides the ScoreBoard app.
The ScoreBoard app is a step behind many of the top betting providers in the United States. ScoreBoard’s monopoly has not forced them to improve their product in any capacity. The ScoreBoard app would still be available in the state, but many bettors would likely turn away from the platform.
In a single platform market, it’s very surprising to see a massive handle increase. This spike in Oregon has given House Bill 2127 a better chance of passing because it shows legislators that a larger market will pay dividends.
ScoreBoard has experienced too many issues to keep bettors happy in the state. There is a desire for enhanced sports betting in Oregon.