According to the latest monthly revenue report from the Oregon Lottery, DraftKings, the state’s only licensed sports betting operator, reported accepting an all-time record of $71.9 million in wagers throughout the month of October.
Oregon gamblers placed over $27.2 million in wagers on football during October
The latest figures mark a 17.2% increase on the previous month’s sports betting handle of $61.3 million and a 29.4% increase year-on-year. Sports bettors in Oregon have now wagered $530.5 million across the first ten months of 2023 and $1.02 billion since DraftKings took over as the state’s sole sportsbook in January 2022. The all-time wagering total now stands at $1.6 billion.
The industry also set an all-time sports betting revenue record as October saw DraftKings generate $8.5 million in revenue from a win percentage of 11.90%, a 26.9% increase in the previous month and 49.1% increase year-on-year. October’s revenue figure was around $1 million more than the previous record set in January 2023. This brings the year-to-date revenue total to $58.6 million and $161.5 million since legal Oregon sports betting launched in October 2019.
Although not listed in the monthly revenue report, Oregon’s deal with DraftKings sees the state collect 51% of sports betting revenue. This means that taxes for the month of October were around $4.3 million.
Football Most Wagered-on Sport
According to the report, Oregon gamblers wagered $27.2 million on football. This was more than three times the amount wagered on the next most popular sport of basketball which attracted $8.1 million in bets. The month of October also saw baseball pull in $7.4 million in wagers while soccer and tennis attracted over $5 million each. Ice hockey bets for the month came to just over $2.5 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 |
| Totals | $530,589,152 | $58,671,327 | 10.90% | $29,922,370 |
*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.
