Latest Oregon Sports Betting Report Reveals Another Single-Month Record

With football in full swing, it’s no surprise the popularity of sports betting across the US is on the rise. It’s no exception in Oregon, where the latest Oregon sports betting figures were at an all-time high.

The Oregon Lottery released gaming figures for October 2022, and Oregon sports bettors wagered $55.6 million in total handle — a new state record. It is more than $12 million higher than the previous record set in April.

A closer look at Oregon sports betting handle

Oregon sportsbooks saw a 41.5% increase in total bets from September 2022. Given that September’s handle was a 39.4% jump from August’s report, we see a pattern of growth in the Oregon sports betting market.

October’s report also reveals year-to-year growth as well. Oregon books saw a 47.9% leap over the $37.6 million in bets in October 2021.

Oregon sports betting revenue a new record

It wasn’t just the state’s handle setting records during the previous month.

Sports betting generated $5.8 million in revenue, which is a new high for Oregon in a single month. It’s a 5.5% increase from last month when Oregon saw a then-record $5 million.

Oregon’s October sports betting revenue mark was an astounding 93.3% higher than the same month in 2021. That year, October sports betting resulted in $3 million in revenue.

Since it officially became legal in 2019, sports betting generated $90,802,280 in revenue in Oregon. Over that same time period, bettors wagered a total of $983,793,124.

Which sports bets were Oregon’s most popular for October?

As you can imagine, football was Oregon’s most popular sport to bet on during October. The Oregon Ducks’ season reached its peak as nearby NFL teams reached midseason form. The result: Oregonians wagered $21.4 million on football, and it accounted for $2.9 million in revenue.

The next most popular sport was basketball, which saw a handle of $12.7 million. It generated $1 million in revenue as well. Oregon’s third-most popular sport was baseball, which grabbed $7.3 million in bets and amounted for $708,268 in revenue.

DraftKings’ Oregon monopoly

Technically, the Scoreboard app still functions in the state. But with the Oregon Lottery partnering with DraftKings and phasing out the old sportsbook, Scoreboard only pays out previous bets placed before the transition. Last month, that amounted to just $1,336 in revenue.

DraftKings, meanwhile, accounted for the rest of October’s handle. Single and teaser bets with the sportsbook’s most popular options that month, garnering $49.6 million in wagers. Oregon customers wagered $16 million on parlay bets as well.

As of now, there are no plans to expand from just DraftKings in Oregon. The state’s commitment to just one sportsbook doesn’t sit well with some, claiming it’s a monopoly. Sport Oregon is one group opposed to DraftKings’ monopoly in the Beaver State. Sport Oregon, backed by the likes of Adidas, Nike and the Portland Trail Blazers, wants the state to walk away from just one sportsbook, but it will take time and plenty of lobbying.