Oregon Lottery’s latest revenue report shows that DraftKings, the sole licensed sports betting operator in the state, broke records by accepting $71.9 million in wagers in October. This figure marks a 17.2% increase from the previous month’s handle and a 29.4% increase from the previous year. In total, sports bettors in Oregon have wagered $530.5 million in the first ten months of 2023 and $1.02 billion since DraftKings became the state’s sole sportsbook in January 2022. The all-time wagering total now stands at $1.6 billion.
Furthermore, DraftKings also set an all-time sports betting revenue record in October by generating $8.5 million in revenue with a win percentage of 11.90%. This marked a 26.9% increase from the previous month and a 49.1% increase from the previous year. It also brings the year-to-date revenue total to $58.6 million and $161.5 million since legal Oregon sports betting launched in October 2019.
Additionally, Oregon’s deal with DraftKings stipulates that the state receives 51% of sports betting revenue. This means that taxes for the month of October were approximately $4.3 million.
Football was the most-wagered-on sport in October, with Oregon gamblers placing over $27.2 million in bets. This amount was more than three times the wagered amount on basketball, which attracted $8.1 million in bets. The month 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 totaled just over $2.5 million.
The author, Ciaran McEneaney, is a gambling industry analyst with over a decade of experience in the sports-betting, gambling, poker, and casino industry.
