Oregon Lottery surpasses $17m in sports betting stakes

The Oregon State Lottery‘s sports betting app, Scoreboard, processed $17.1 million in stakes during November. This was the first full month for legalised sports wagering in the state, having gone live in mid-October.

A solid start 

A total of 720,084 bets were made last month via the SBT Tech-powered app. The average stake value was $23.76. A hold of around 5.14% was reported, with the lottery generating $960,714 in revenue.

Two sports produced over $100,000 in revenue. Basketball was the most popular, making $586,824. $8.6m was wagered in stakes, which was 50.3% of the entire month’s total. Football also performed strongly, generating $186,539 in revenue. $6m (35.2%) was placed altogether for this.

Ice hockey was also a popular sport to bet on. Oregon players also wagered on the likes of volleyball, snooker, Australian rules football and more.

Player power 

Over the course of November, 9,393 players registered for an account on the Scoreboard app. The lottery reported just over 17,000 unique active players for the whole month of operations.

Since Scoreboard was launched on October 16th, $22.7m has been staked through the app. Meanwhile, revenue has hit $1.2m. Just shy of a million bets (992,842) have been placed and 34,489 players have registered so far.

Pre-match betting was the most popular form, with $9.3m in total staked for this. In-play betting handle stood at $7.8m. Pre-match revenue was $477,087, while in-play actually generated more ($483,627).

The future of sports betting in Oregon 

At the moment, only mobile wagering is legal in the Beaver State. The launch of Scoreboard was the first sports betting app to be released by a US state lottery.

For the first three years, the Oregon Lottery expects Scoreboard to grow to $141.2m in revenue. It’s also predicted that a total of $1.6bn will be handled.

Scoreboard-branded retail kiosks will eventually be launched, but this won’t be the first of its kind in the state.

The Coquille Indian Tribe-operated Mill Casino has already launched a retail product. This will be powered by International Game Technology and means the casino is the second tribal operator to launch betting. The first was Chinook Woods Casino, operated by the Confederated Tribes of Siletz Indians.