Oregon released its November betting report this week, which showed some lopsided numbers for the month. The overall betting handle dropped from October to November, but revenue was up compared to the month prior.
This begins to happen this time of year as the free bets and bonuses start to be used up, and bettors begin to use the funds deposited in sports betting accounts. This allows states to generate more revenue from real money being bet instead of bonuses.
The November betting handle was $25 million for the month, while revenue hit $4.1 million. The handle is down from $29.4 million in October, but the revenue increased from $2.75 million. The state and sportsbooks can collect more on the revenue boost despite seeing its betting handle drop in November.
The state only having football to lean on in the month made it more difficult to compete with the back-to-back record months states saw in September and October.
Oregon by the Numbers
Oregon was fortunate to see its revenue increase for November, but the state could not hit another record betting handle. Of course, football was the sport that dominated the report, with $14.8 million being bet on the sport between the NFL and college football.
Oregon and Oregon St. began their season in November, which helped the two Pac-12 schools’ betting handle.
Soccer had the second-largest handle, taking in $3.8 million for November, with basketball in third at $2.2 million. Table tennis ($1.4 million) and MMA ($824,756) round out the top five.
The state should see a slight shift in the December betting handle in terms of sports. Football should continue to dominate in the last month of the year, but the NBA is set to return on December 22. Like what we saw in July, sportsbooks will be able to get some action in on early NBA betting, allowing the state to increase their betting handles.
The state must be happy that Oregon’s November revenue almost double in value from October. The Beaver State will definitely hope that both the handle and revenue increase heading into December, and there could be a chance with the sports schedule.
Can Oregon Increase Its December Betting Handle?
December will bring the NFL, college football, college basketball, and some NBA for the last month in 2020. With the two most popular professional and college sports all being played at once, there is a good chance that Oregon sees another increase in the betting handle and could break the single-month record.
Betting revenue should also continue to see an increase in December as the state sportsbooks are not handing out as many promotions and new user bonuses this time of year.
November numbers for Oregon were not bad, but the shift was noticed as the sports calendar shifted to football only in the month. There was some college basketball to help, but the state will see a noticeable difference in December with a full month of college hoops and the NBA returning to action.
Expect another increase in the betting handle next month, along with state revenue to possibly increase as well.