Oregon November Sports Betting Revenue Up 50%, Handle Down
While Oregon saw the amount wagered in November fall 15% from its record in October, revenue increased nearly 50% in November.
The total sports betting handle in Oregon for November was just over $25 million, a decrease of $4.4 million, according to figures from the Oregon Lottery.
But revenue from sports betting continued to grow. After an 80.1% increase in October to $2.75 million, revenue generated from sports betting grew to just over $4.1 million in November, an increase of 50%. That’s an all-time high for the state, as was the hold percentage of 16.44%.
The revenue increase is surprising when you consider that Oregon has a single source sports betting market run by the state lottery via its Scoreboard app and it limits betting on college sports.
The drop in handle could be related to MLB and the NBA ending their seasons in October. Those sports were the second- and third-highest sports bet on in October.
Oregon Sports Betting Revenue & Handle, November vs. October
|Change||Down 15%||Up 49.6%|
Football Betting is 59% of the Handle
The average bet amount in Oregon for November was $30.41. Football betting continued to lead the way in Oregon as it accounted for nearly 59% of the handle in November. The total of $14.7 million was up from $12.2 million in October.
Soccer ($3.8 million), basketball ($2.2 million), table tennis ($1.4 million) and mixed martial arts ($824,756) rounded out the top five sports, according to the state report.
By betting activity, Oregon saw 221,937 of the total bets made (823,483) from live bets or those placed within the duration of a betting event. The remaining bets, 601,546, were placed before the starting date or time of the event.
Oregon & College Sports
The Pac-12, home to the Oregon Ducks and Oregon State Beavers, returned to its college football season the first weekend of November and college basketball in late November and early December, but you can’t bet on college sports in Oregon on the lottery’s Scoreboard app. College wagers can be placed at sportsbooks in the state’s tribal casinos.
The Ducks are 3-1 in college football while Oregon State is 2-2, having won its last two games, including a big upset of its state rival on Nov. 27. In college basketball, Oregon started 0-1 while the Beavers are off to a 2-1 start.
Oregon has seen some of the same issues that states with lottery-run sports betting operations and just one option for consumers have had. Poor odds and technical difficulties have been some of the ongoing issues.
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