Oregon Sports Betting Achieves Record-Breaking Results in December

Quick Intro

The growth of sports betting in the United States is evident, with more participants engaging in this activity across various states. This increase in participation is mirrored in the rising financial outcomes reported by regulatory bodies in several jurisdictions. Oregon, in particular, has seen a significant surge in its sports betting handle, achieving a new record.

In December, Oregon’s bettors placed bets totaling $73.2 million, breaking the previous record of $71.9 million set in October of the previous year. This latest figure represents a substantial 38.1% increase over the $53.8 million wagered in December 2022.

American football dominated December’s betting, accounting for nearly a third of the total handle, with $23.1 million placed on the sport. Basketball followed as the second most popular choice, drawing $16.5 million in bets. Soccer and ice hockey also saw considerable action, with $3.3 million and $2 million in wagers, respectively.

Single bets were more favored, attracting $48.1 million in wagers, while parlay bets contributed $25.1 million to the total handle.

Other states, including Maryland, New Jersey, and Massachusetts, also reported record-breaking figures for December.

Oregon’s Revenue Breaks Previous Records

The revenue figures for Oregon also hit a peak, with DraftKings, the state’s sole legal sports betting operator, reporting revenues of $9.7 million. This revenue is a significant 70.2% increase from the previous year and 14.1% more than the $8.5 million recorded in October.

Breaking down the revenue by sport, football led with $3.5 million, followed by basketball with $2.9 million, and soccer contributing approximately $606,000. Despite single wagers being more prevalent, parlay bets outperformed them in revenue, generating $5.7 million compared to $4 million from single wagers.

Last year, Oregon and DraftKings expanded their betting options, introducing wagers on unconventional events such as the Tour de France, Major League Baseball’s Home Run Derby, the American Cornhole League World Championship, and notably, Nathan’s Hot Dog Eating Contest.

Oregon’s Sports Betting Landscape: Expanding Horizons

Oregon’s sports betting scene is diversifying, evidenced by its record-breaking handle and revenue and the expansion of betting options to include a variety of unconventional sports events. This trend indicates a broadening appeal of sports betting to a wider audience in the state.

Final Thoughts

Oregon’s remarkable December sports betting figures, alongside expanded betting options, underscore the state’s evolving and dynamic sports betting market. This growth not only reflects increased participation but also highlights the potential for further expansion and diversification in Oregon’s sports betting industry.