Sports Betting in Oregon Increases in Popularity
Sports fan and gamblers in the state of Oregon have been enjoy betting on sports since 2019. Since then, sports betting has rapidly become one of the most popular offerings of the state Lottery. From 2022 to 2023, sports betting analysts have seen a 43% increase in the number of sports bettors. Today, the numbers are even higher as Sports Betting in Oregon Increases in Popularity by 22%!
According to the latest gambling reports by the Oregon Lottery, sports gambling is hot in Oregon! In the initial quarter of the fiscal year, (July, August, and September) the number of sports wagers in Oregon rose by 22%. In total, we are talking about over $184 million in sports bets. Additionally, there was a corresponding 22% increase in the number of individuals engaging in sports betting within the state. Thus, it is approximately 71,000 different people placing bets in September, as reported by the Oregon Lottery.
Sports Betting in Oregon Increases in Popularity with a 22% Increase
Ever since Sports betting become legal in the US., it has more or less become mainstream in most of America. In fact, most stadiums that are in legal sports gambling jurisdiction have on-site sportsbooks available. Thus, fans can bet on the game while at the game! Unfortunately, it is a different story in Oregon who relies mainly on online gambling platforms and tribal casinos.
Oregon was initially one of the 4 states exempt from PASPA while it was in effect. However, they never really got to monopolize this exception until after online sports betting became legal in Oregon. Now, the story is different with the Oregon Lottery earning $23 million in gross sports betting revenue. This number represents an almost 50% increase in comparison to the same period last year.
To give you an idea of the significance of this increase, last year the entire sports betting gross revenue was $55 million.
The growth observed in this context is unprecedented compared to other lottery games, such as scratch tickets and video lottery machines, which have generally maintained profitability but have not experienced significant growth.
Kerry Hemphill, who manages sports products for the Oregon Lottery, remarked, “This has taken us by surprise. There has been no indication that this momentum is diminishing.”
Furthermore, Hemphill credits the increase partly to the Oregon Lottery’s sports betting platform. Similar to other betting firms, advertisements for DraftKings have become ubiquitous on sports television. Sports enthusiasts have grown accustomed to a variety of commercials, along with broadcast networks endorsing in-game betting.
Betting on Sports in Oregon, Is It Close to Reaching its Full Potential?
The variety of sports betting options available in Oregon remains limited in comparison to other states. Currently, bettors can only utilize DraftKings through a mobile platform or place wagers at tribal casinos. This is because the state lacks the in-person sportsbooks that are prevalent elsewhere. Oregon’s reliance on a solely digital sportsbook is atypical when compared to other states.
Thus, for individuals to open a sportsbook in Oregon due to the DraftKings and tribal casino monopoly.
Hemphill indicated that the Lottery is uncertain about when it will reach its maximum capacity for sports betting. However, there is an anticipation that the market will eventually realize its full potential, which may take five to seven years to achieve.
Despite this, the ongoing growth continues to astonish lottery officials. Hemphill noted that sports betting in Oregon could experience a 20% increase annually over the next three years. “We had anticipated that this growth would become increasingly difficult to sustain each year,” she remarked.
“We are not merely keeping pace with population growth; we are significantly outpacing it and exceeding inflation.”
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