Oregon December Sports Betting Handle Up 7.8%, Revenue Down
The amount wagered in Oregon in December increased by 7.8% after a drop in November, but revenue fell by 25.9% from its record last month.
The December total handle and revenue in Oregon were the second-highest figures for a month since the state launched sports betting in October 2019.
The total sports betting handle for December was $26.99 million, a nearly $2 million increase over November, according to figures from the Oregon Lottery. Revenue fell to $3.05 million in December from its record of just over $4.1 million in November.
The hold percentage for December was 11.3%, down from November’s hold percentage of 16.44%, a record.
The increase in handle and the strong revenue figure are surprising because Oregon has a single source sports betting market run by the state lottery via its Scoreboard app and you can’t bet on college sports on the lottery’s app. College wagers have to be placed at sportsbooks in the state’s tribal casinos.
Oregon Sports Betting Revenue & Handle, December vs. November
|Change||Up 7.8%||Down 25.9%|
Betting by Sport
Just about half (50.06%) of the bets placed in December were on football. In November it was nearly 59% of the bets placed. The total of $12.3 million bet on football was down from the $14.7 million in November.
The state also was helped by the start of the NBA season on Dec. 22. Interest in the Portland Trail Blazers runs high in Oregon. Basketball saw $8.3 million in wagers in December despite the late start of the NBA in the month.
Soccer ($3.1 million) was the No. 3 sport to bet on in December, followed by table tennis ($1.7 million) and mixed martial arts ($502,300), according to the state report.
Oregon Betting Activity
For 2020, the first full year of Oregon sports betting, the handle totaled $218,239,661 and the total revenue was $20,071,260. The hold was 9.2%.
In December, Oregon saw 270,951 of the total bets made (843,235) from live bets or those placed within the duration of a betting event. The remaining bets, 572,284, were placed before the starting date or time of the event.
The average bet amount in Oregon for December was $32. That was an increase over November’s $30.41 average bet.
States with lottery-run sports betting operations and just one option for consumers, like Oregon, have had issues with poor odds and technical difficulties. The Oregon Lottery has a partnership with SBTech.
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