Oregon Sets Sports Betting Handle Mark of $37.6M in October

Oregon Sets Sports Betting Handle Mark of $37.6M in October
© USA Today

October was a record month for sports betting in Oregon, at least in terms of handle.

The sports betting handle for the state hit $37,639,041 for the month.

Oregon was the first state to report its October sports betting figures. A month with five NFL Sundays and five college football Saturdays, plus baseball playoffs and the NBA and NHL regular seasons starting, is likely to set records in most (if not all) states with legal sports betting.

Oregon’s Scoreboard app reported a 50.1% increase in handle compared to the $25 million reported in September. October’s handle beat the old record of $34.9 million, set in January, and was 27.8% higher in a year-over-year comparison with October 2020 ($29.5 million).

The gross gaming revenue from sports wagers last month was $3,022,298, up 140% from September ($1.25 million) and 9.9% higher than October 2020, when it was $2.75 million.

Oregon Sports Betting, October vs. September

October$37.639M $3.022M
September$25.070M $1.260M
Change Up 50.1% Up 140.0%

The revenue figure was fourth highest since sports betting launched in Oregon in January 2020. The record is $4.1 million in November 2020.

Oregon Sports Betting Breakdown

The hold in The Beaver State last month was 8.03%. That’s a fairly standard rate, down slightly from the 8.94% that the state-run Scoreboard sportsbook held in 2021 from January through September, according to figures from The Oregon Lottery.

With football well underway, that sport easily led Oregon in betting handle for the month at $15.4 million. Basketball was second at nearly $9 million as the state’s Portland Trail Blazers, a playoff team last season, got their regular season started.

Rounding out the top five sports in Oregon for October were baseball ($4.6 million), soccer ($3.3 million) and hockey ($1.5 million). Parlay bets accounted for $9,847,317 in handle.

DraftKings to Take Over

In August, the Oregon Lottery approved DraftKings for operation in the state, taking over from the SBTech’s Scoreboard app.

DraftKings agreed to cease daily fantasy sports operations in Oregon as part of the deal; there is no date set yet for the DraftKings online sportsbook to begin operating its sportsbook in the state.