Oregon Sports Betting Revenue 2024: What You Need to Know

As reported by the Oregon Lottery, Oregon's sports betting revenue experienced notable fluctuations from October 2023 to September 2024. The sports betting handle—the total amount wagered—reached $75 million in September 2024, marking the highest monthly handle for the year. Similarly, gross gaming revenue (GGR) peaked in September 2024 at $9.28 million, demonstrating the market's potential during periods of high sports activity, such as the NFL season kickoff. (Oregon Lottery, 2023)

The year began strongly in January 2024, with a handle of $68.58 million and gross sports betting revenue of $8.59 million, with a hold percentage of 12.53%. The market remained steady through the spring and summer, with handles consistently hovering between $66.52 million and $74.84 million.

The summer months saw some declines, with the handle dropping to $52.71 million in July 2024, the lowest for the year. However, a significant rebound in September 2024 was expected as bettors returned for the start of the NFL and college football seasons.

Oregon Lottery Report For the Last fiscal year:

• Total Handle: Approximately $816.9 million (October 2023 - September 2024).
• Gross Gaming Revenue: Roughly $84.57 million.
• Tax Contributions: Total taxes from October 2023 to September 2024 exceeded $6.5 million, with a peak monthly tax of $742,080 in September 2024.

• Oct. 25, 2024: DraftKings, the state-partnered sportsbook, reported a $75.4 million handle in September, the second-highest since Oregon legalized sports betting in 2019, marking a 23% increase from September 2023. (CDCGaming, 2024)
• Apr. 7, 2024: A lucky Powerball ticket holder in Oregon hit the $1.36 billion jackpot. This was the fourth-highest jackpot ever won. (Powerball, 2024)
• January 18, 2022: DraftKings took over mobile sports betting in Oregon following its acquisition of SBTech, the platform previously operated by the Oregon Lottery. (DraftKings, 2022)

Oregon boasts a big sports culture with professional teams, collegiate athletics, and a passionate fan base.

Professional Sports Teams

• Portland Trail Blazers (NBA): The Trail Blazers, who compete in the NBA, have been a big part of Oregon's sports scene since their establishment in 1970. They won the NBA Championship once, in 1977.
• Portland Timbers (MLS): This Major League Soccer club has grown a dedicated following since joining the league in 2011.
• Portland Thorns FC (NWSL): As a National Women's Soccer League member, the Thorns have achieved significant success (three major titles) and maintain a strong fan base.

Collegiate Athletics

• University of Oregon Ducks: The Ducks compete in the Pac-12 Conference. They are known for their football program, which has significantly impacted the state's sports culture. Under head coach Dan Lanning, the Ducks achieved a 12-2 record in 2023, marking their sixth 12-win season in program history.
• Oregon State University Beavers: Also part of the Pac-12, the Beavers contribute to the state's rich collegiate sports traditions, particularly in football and baseball.

Popular Sports for Betting in Oregon

• Football: Both college and professional football attract substantial betting interest, with the NFL's Seattle Seahawks being particularly popular among Oregonians.
• Basketball: NBA games, especially those involving the Portland Trail Blazers, see significant betting activity.
• Soccer: Matches featuring the Portland Timbers also draw betting interest.

While Oregon does not have its own NFL team, the Seattle Seahawks, based in neighboring Washington, are the most popular NFL team among Oregonians. A 2016 analysis of ticket sales data revealed that 45.47% of NFL tickets purchased in Oregon were for Seahawks games, indicating strong regional support for the team. (Forbes, 2016)

Oregon's commercial gaming industry operates under a framework established through compacts between the state and nine federally recognized tribes. These compacts regulate tribal gaming activities and provide oversight by both the state and tribal governments. The compacted tribes include:

• Burns Paiute Tribe
• Cow Creek Band of Umpqua Tribe of Indians
• Klamath Tribes (Modocs & Yahooskin)
• Coos, Lower Umpqua & Siuslaw Indians
• Confederated Tribes of Siletz
• Coquille Indian Tribe
• Confederated Tribes of the Umatilla Indian Reservation
• Confederated Tribes of Warm Springs
• Confederated Tribes of Grande Ronde Community

While these compacts share similarities, they require each tribe to establish departments to oversee and regulate gaming operations. Tribal gaming, including casinos, is governed through this dual regulatory approach for compliance with tribal, state, and federal guidelines.

Tribal Casinos Offering Sports Betting

Of the nine compacted tribes, only four currently offer sports betting at their retail casinos. These venues provide both visitors and locals with opportunities to engage in sports wagering alongside traditional casino gaming:

• Chinook Winds Casino Resort (Lincoln City): Sports Wagering Lounge
• Spirit Mountain Casino (Grand Ronde): BetMGM Spirit Mountain Sportsbook
• Three Rivers Casino Resort (Florence): Sportsbook at Three Rivers Casino
• The Mill Casino & Hotel (North Bend): Sports Betting Kiosks

When comparing the sports betting markets of Oregon and Connecticut, Connecticut's multi-operator system significantly outperforms Oregon’s single-operator model. Both states share similarities in population size and the timing of sports betting legalization, but Connecticut’s competitive framework drives far greater revenue and engagement.

Oregon Sports Betting Revenue Performance

Oregon's sports betting handle for September 2024 reached $75 million, its highest monthly handle of the year. Gross gaming revenue (GGR) peaked at $9.28 million during the same month, fueled by the start of the NFL and college sports seasons. The market demonstrated stability in the spring and summer, with monthly handles averaging between $66 million and $74 million. However, summer declines were evident, with the handle dipping to a low of $52.71 million in July 2024.

Since Oregon legalized sports betting, the state has relied on a single-operator model through DraftKings in partnership with the Oregon Lottery. While this system offers regulatory simplicity, it limits market competition and caps sports betting revenue.

Connecticut’s Sports Betting Revenue Success

Connecticut’s market structure, with major operators like DraftKings, FanDuel, and Fanatics Sportsbook, has propelled the state to remarkable gross sports betting revenue heights. In December 2023, Connecticut set a record handle of $189.6 million, more than double Oregon’s peak monthly handle. This marked a 15.5% year-over-year increase, underscoring the steady expansion of the state’s sports betting ecosystem.

The presence of multiple operators creates a competitive environment, driving greater participation and offering bettors diverse options. Connecticut also benefits from strategic partnerships with local entities, ensuring a strong connection to its community and increasing market appeal.

Key Comparisons

Why Connecticut Outpaces Oregon

• Competitive Market Structure: Connecticut’s three-operator system fosters innovation, better promotions, and more options for bettors, increasing engagement.
• Higher Handles and Revenue: With peak monthly handles over twice as high as Oregon’s, Connecticut benefits from its broader appeal and enhanced market accessibility.
• Year-Round Engagement: Connecticut consistently grows with higher year-over-year increases, even during traditionally slower betting months.

Oregon’s reliance on a single operator limits its ability to scale and compete with states like Connecticut. While Oregon's market shows stability and potential during peak sports seasons, its centralized structure constrains its growth. Connecticut’s multi-operator model and strategic partnerships present a clear path for Oregon to consider if it aims to unlock higher handles, increased revenue, and greater bettor engagement.

Oregon's gross sports gaming revenue (GGR) has shown consistent growth, driven by a streamlined, single-operator model through DraftKings in partnership with the Oregon Lottery. In 2023, the state generated $21.43 million in GGR from a total betting handle of $213.07 million. Monthly performance peaked in September 2024, with $9.28 million in revenue, coinciding with the NFL and college football seasons.

Despite these gains, Oregon's reliance on a single-operator model limits its potential. With a competitive multi-operator framework, states like Connecticut consistently outperform Oregon, achieving peak monthly handles and revenues more than double those of Oregon. Introducing additional operators could enhance market engagement, drive innovation, and increase overall revenue.

Oregon’s sports betting market is poised for steady growth, especially during high-activity periods such as football season. However, to remain competitive nationally, the state may need to explore diversifying its operator landscape, offering bettors greater variety and attracting more participants. Enhanced regulatory frameworks and partnerships could further solidify Oregon’s position in the evolving sports betting industry.