Oregon’s Sports Betting Turnover and Revenue Plunge in February

US state of Oregon has reported a decline in sports betting handle, turnover and revenue during the month of February.

Scoreboard sportsbook, powered by DraftKings, has had its turnover and gross gaming revenue dip compared to the January figures, even though they are up in comparison to last year.

Number of Bets Grows

The brand’s stakes grew 41.6% year-on-year to $29.6 million in February, while their handle was up 75.6% to $2.6 million.

The turnover declined by 15% while gross gaming revenue went down 30.6% compared to January 2021.

22,840 active players in total have placed bets – which is an increase of 22.7% – which amounted to an average of $29.43 per player. The number of overall bets grew 29.6% to one million.

The Order of Sports

A big chunk of bets in Oregon were placed pre-match: 659,054 compared to 346,560 live bets.

Majority of bets placed in February were single and teaser bets at 707,118 compared to 298,496 combo and system bets.

NBA progresses towards the climax of the regular season and so it took the lead in handle with a turnover of $17.5 million. This is an increase of 38% as operators earned $1.3 million in revenue, which is more than double the total from February 2020.

Football came second, which brought in $3.43 million in bets, which is an increase of 47.8%. The NFL season ended with Super Bowl LV in early February.

This resulted in $689,025 in revenue, which is more than four times the revenue in 2020’s February.

The third most successful sports was soccer which came with a handle of $2.3 million and the total revenue of $252,962.

Latest Entry

Oregon’s sports betting market wasn’t as eventful as some others in the US, perhaps, since the last major entry to the market was that of BetMGM in June.

This sportsbook was opened at one of the state’s biggest casinos, Spirit Mountain Casino.

They have come to the market with the on-reservation mobile sports betting app as well as retail sportsbook.

Roar Digital’s CEO – the brand that operated BetMGM – said that the sportsbook has found great partners and looks forward to working with them to bring leading retail and online sports betting to Oregon.

Source:

“Oregon sees handle and revenue dip in February”, igbnorthamerica.com, March 19, 2021.