According to the latest monthly revenue report from the Oregon Lottery, DraftKings, the state’s only licensed sports betting operator, reported accepting $71.2 million in wagers throughout the month of November, the second highest total of all-time.
The latest figures mark a slight decrease of less than 1% on the previous month’s record-setting sports betting handle of $71.9 million and a 28.3% increase year-on-year. Sports bettors in Oregon have now wagered $601.8 million across the first eleven months of 2023 and $1.09 billion since DraftKings took over as the state’s sole sportsbook in January 2022. The all-time wagering total now stands at almost $1.7 billion.
The month of November saw DraftKings generate $7.3 million in revenue from a win percentage of 10.20%, a 14.1% decrease from October but a 14% increase year-on-year. November’s revenue figure was the second highest since Oregon sports betting launched in October 2019. This brings the year-to-date revenue total to $65.9 million and the all time figure to $168.8 million.
When DraftKings took over as the state’s only sports betting operator it agreed to a 51% state share on gross sports betting revenue. Although this figure is not included in the report it can be estimated that state taxes for the month came to around $3.7 million.
Football Remains First Choice at Sportsbooks
According to the report, Oregon gamblers wagered $23.1 million on football while basketball attracted $21.6 million in wagers. Soccer pulled in $5.7 million in wagers while tennis bets for the month came to $4.1 million. Ice hockey bets for the month came to just over $3.3 million.
Historical Sports Handle, Revenues & Taxes in Oregon
| Period | Total Handle | Sportsbook Revenue | Win % | State Taxes |
|---|---|---|---|---|
| Jan 2023 | $62,328,293 | $7,546,966 | 12.11% | $3,848,952 |
| Feb 2023 | $48,425,409 | $4,261,284 | 8.80% | $2,173,254 |
| Mar 2023 | $50,456,710 | $6,088,342 | 12.07% | $3,105,054 |
| Apr 2023 | $55,167,184 | $7,051,980 | 12.78% | $3,596,509 |
| May 2023 | $52,122,283 | $6,462,462 | 12.40% | $3,295,855 |
| Jun 2023 | $43,861,200 | $4,336,368 | 9.89% | $2,211,547 |
| Jul 2023 | $40,428,203 | $4,150,625 | 10.27% | $2,116,818 |
| Aug 2023 | $44,542,070 | $3,507,634 | 7.87% | $1,788,893 |
| Sep 2023 | $61,354,332 | $6,720,396 | 10.95% | $3,427,401 |
| Oct 2023 | $71,903,468 | $8,545,270 | 11.90% | $4,358,087 |
| Nov 2023 | $71,231,497 | $7,292,147 | 10.20% | $3,718,994 |
| Totals | $601,820,649 | $65,963,474 | 10.84% | $33,641,364 |
*State taxes are approximate figures as Oregon does not publish tax data.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.
