Oregon’s sports betting handle and the average betting volume went down for February. The Oregon Lottery has a partnership with DraftKings is the only online sportsbook that is licensed in the Beaver State.
Oregon’s Sports Betting Handle For February
The lottery’s current Scoreboard online sportsbook is powered by DraftKings through its SBTech division. Scoreboard is set to be replaced in the near future as DraftKings will take over as the process began on January 18th. Users on Scoreboard will have no problem creating new accounts on the DraftKings platform and will have an easy time moving funds.
There are users still remaining on Scoreboard as there is no rush to switch over to DraftKings. The state reported a handle of $39.4 million for the month. The breakdown is $39.1 million came from DraftKings and the remaining $273,328 was from Scoreboard.
February’s handle portrayed a decrease of eight percent from January. Comparing the year-to-date numbers shows that the handle is up 33.3 percent from February 2021’s $29.6 million.
The Beaver State’s gross revenue for the month reached $3.3 million as the majority came from DraftKings as Scoreboard had a negative month of -$8,185. The gross gaming revenue for the month was up 39.6 percent from January’s $2.4 million and up 24.2 percent from February 2021’s $2.7 million. These figures fell way short of the record that was set back in November with gross revenue of $4.4 million.
Most Wagered Sports in Oregon For the Month and Market Outlook
February was a slower month for most of the industry as football was coming to an end after the Super Bowl. Also, the NBA and NHL had their respective All-Star weekends that also halted the average betting volume in not only Oregon but also in other markets throughout the industry.
Combining the total handles from the two sportsbooks, basketball led with a handle of $20.3 million in wagers. The rest that followed were Football ($5.1 million), hockey ($4.3 million), soccer ($3.3 million), and tennis ($2.5 million) to round out the top five. The other sports category made up $3.9 million of the total handle for the month.
Straight bets and teasers were the most popular types of wagers users placed through both platforms. According to the information presented, $28.1 million was placed on DraftKings while $267,151 came from Scoreboard.
Parlays on DraftKings had a total of $11.1 million and just $6,177 on Scoreboard. As it stands Oregon is just the second state in the country where DraftKings is the sole operator in the market. The only other state to do so is New Hampshire as the state struck a deal back in 2019.
Paul Liberman, co-founder and President Global Technology and Product stated, “The Oregon Lottery shares our innovative spirit as one of the most progressive organizations in the real-money gaming sector, and together we look forward to delivering the exceptional online sportsbook products that Oregonians have been anticipating.”
Strong Rebound Potential for March
With March Madness just around the corner, Oregon sportsbooks should see their numbers rebound in coming weeks. Though the Oregon Ducks are likely out of contention for a tournament spot and Oregon State had a single-digit win total on the season, the state will still make a big impact on the tournament.
Portland is the host city for the first six games of the West Region, including for projected #1 overall seed Gonzaga. With a local angle to the betting action, now may be the time to get in on the Bulldogs for a deep tournament run.