Oregon Lottery Commission Approves DraftKings Sportsbook

Oregon’s sports betting landscape is a bit tricky compared to other states that have legalized online and mobile sports betting already. They only have one operator, and that will now move from Scoreboard, which was the current provider for the Lottery’s sportsbook, and they will move to DraftKings Sportsbook. With DraftKings buying out SB Tech last year, this comes with very little surprise.

When Will DraftKings Sportsbook Be Available In Oregon?

It is still unclear when DraftKings Sportsbook will be available in Oregon. However, the board and DraftKings are both looking to move along with this process as quickly as possible, especially with the NFL season looming. The fall months are the biggest time for betting with the World Series, NFL, and the starts of both NBA/NHL seasons.

College sports betting is not allowed in Oregon, so there is no rush to allow betting on any sort of Pac-12 football/basketball and on the two major in-state universities.

Look for more news to come out when the contract is actually finalized. Currently, things have only been approved by the Oregon Lottery Commission.

Switching Over Accounts

Those who already had an account under the Scoreboard Sportsbook will have to make a new account with DraftKings, despite them owning SB Tech.

This is pretty standard as every sportsbook has its own unique ways of banking and accounts set up internally, but the process will be very much the same. You will need to verify basic information and verify your location upon creating an account.

If you are wondering why the switch has occurred now and this close to the NFL season, DraftKings has been in negotiations for months now. The purchase of SB Tech also hinted at a potential change to their new head company. Overall, DraftKings brings one of the top sportsbooks to the country, which excited the Lottery Board, given it had more of an American brand compared to Scoreboard’s European model.

DraftKings Stops DFS In Oregon

In late July, DraftKings had stopped taking daily fantasy sports (DFS) entries due to the negotiations with the Oregon Lottery. Oregon’s state government and lottery board were iffy on allowing daily fantasy and had its tie-ups with the company in the past.

Seemingly sports betting has a higher traction and revenue stream than daily fantasy sports, where DraftKings made a choice to drop it and focus on sports betting. There are technically now laws banning daily fantasy sports, nor are there any to allow it.

However, FanDuel has still been allowing DFS entries in the state, so you can still participate in paid fantasy sports.

DraftKings Stock On The Rise

The combination of Arizona sports betting launching this weekend and Oregon using them as a lone provider has caused a tick-up in the DraftKings stock. The stock is up already 19% over the past few months and jumped over 3% on Friday.

Sports betting is here to stay, and with launches planned in Arizona, Maryland, and Louisiana over the coming months, DraftKings will have their plate full for the busy sports time of the year.