How Is Sports Betting in Oregon?

Oregon legalized sports wagering back in August 2019. The state runs the entire operation of sports betting through the Oregon Lottery and has a single app, Scoreboard, for its online sports wagering. The entirety of Oregon’s numbers-breakdown can be found every month on its website.

Number of Sports Betting In Oregon

The number of sports betting in Oregon bets placed reach 903,187, up from 839,162 placed in September. It is with the college football and NFL season; it would make sense that the number of bets is increasing. Of course, sports wagering is also relatively new, and October also saw over 3.000 more new registrations for Scoreboard, which adds to the total bets.

Sports Betting Handles

The most critical number to look at when it comes to sports betting is the handle. It will let you know how many bets are being placed. In October, it saw $29.5 million of bets come through. Although, this was not only a record-breaking month but an increase of $3.3 million from September. This massive casino news for Oregon looks to create a stable revenue stream for the state in sports betting.

Sports Wagering Margins

Of course, with sports betting, the margin is always essential, just like how important for the betting odds to be available with the bettors. October had a substantial 9.34% margin, which impressively almost doubled the margin in September.

While this is great, there is no reason to believe that this margin percentage will keep up. The average year to date margin from September of 2020 was 7.1%, and that is probably around where the margin sill stays for Oregon long term.

The revenue will fluctuate as some months will be better for bettors, and some will be better for the Lottery. That is just the nature of gambling. The 9.34% was outstanding and, combined with the record-breaking handle, leading to a drastic revenue increase.

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