Sports betting in Portland, Oregon has hit an all-time high after the Super Bowl LV between Kansas City Chiefs and the Tampa Bay Buccaneers. The Super Bowl win attracted over 150,000 wagers. According to state officials, the wagers resulted to payouts of almost $3.5 million. The average wager amount was about $23.
According to the Lottery Sportsbook Product Manager, Tony Gallenbeck, there were over 23,000 individual Scoreboard players. Scoreboard earned about $700,000 in revenue and there were at least 1,500 new registrations.
Scoreboard players had the chance to choose from a variety of bet options. They could bet on the regular NFL game along with proposition bets. The novelty bets included predicting the number of yards a specific player would get, if there would be defensive touchdown, and more. For example, there were over 4,000 wagers on the color of Gatorade that would be poured on the winning coach.
The State of Sports Betting in Oregon
The record-breaking handle early this year was a major boost to sports betting in Oregon. The market has improved significantly even though there had been a few bad months.
It has been possible to bet on sports in Oregon since August 2019. In October of the same year, the Scoreboard sports betting app was launched. From 1989 to 2007, the state only allowed parlay-type betting and Sports Action. However, it became a problem and was abandoned after the state was unable to host the NCAA tournament.
Being one of the few states with a gambling history, betting lovers in Oregon were happy to see it brought back in 2019. In 2018, PASPA was overturned and courts voted to permit every state to make their own regulations concerning sports betting.
Most of the sports betting in Oregon is operated by Scoreboard, a state website and app. There are retail locations where players may place their bets. Tribal casinos are the most popular ones. There are plenty of locations where players can get keno, instant tickets, and lottery games.
Currently, the state is carrying out discussions to permit betting on virtual events. If the discussions go forward, Oregano could be one of two states that allow betting on virtual sports. The existing rules have been constricting sports betting in the state and limiting player opportunities.
There is only platform for mobile betting in Oregano, Scoreboard. The Oregon Lottery runs it and the state does not allow any other online providers. There are two retail sports books in the tribal casino properties. Betting on college sports is not permitted on Scoreboard. Betting.us. has more information on sports betting in Oregon.
Sports Betting Records in January
The state earned a total of $34.9 million in January. It was the highest ever received from sports betting. In December, the total was slightly less than $27 million.
The handle in January was higher than Oregon has ever got since it launched mobile sports betting. It was $200,000 shy of exceeding the highest revenue amount ever. It is an indication that the future of sports betting in the state is bright.
In 2020, the total handle was $218.2 million. It resulted to $20.1 million in revenue. Being the first complete year of legal sports betting in the state, there is no data to make a comparison. However, it is safe to say that it has had a great start.
In January, the most wagered sport was basketball with a handle of $17.4. It was followed by football whose handle was $10.3 million. The handle for table tennis was $1.7 million, $2.5 million for soccer, and $1.1 million for hockey.
The New House Bill
Currently, the sports betting market in Oregon is very restricted. Governor Kate Brown is pushing for the amendment of the current market to offer more betting opportunities. She requested the proposition of House Bill 2127.
The bill would allow the Oregon Racing Commission to serve as the new sports regulating body in the state. With this change, it would be possible to have more operators in Oregon. Bettors would not need to rely on the Scoreboard app for all of their betting needs.
Even though the Scoreboard app has its benefits, it does not compare to most of the leading providers in the country. Because of its monopoly, the app has not had to make any changes or improvements. With the new house bill, the Scoreboard would still be operational. However, many bettors would probably turn to other options.
The single-platform market in Oregon has made the dramatic handle increase even more surprising. The spike is likely to make things easier for House Bill 2127. Legislators have proof that a wide market is willing to play and pay dividends. The issues that Scoreboard continues facing have made it difficult for it to satisfy players.
Sports Betting in the United States
Sports betting on football, basketball, baseball and hockey has not only spiked in Oregon but also in other parts of the country. Other states where the market has also been doing well include Pennsylvania, Nevada, and New Jersey. Nevada has grown into the gambling hub of the country and sports betting has improved by over 90 percent since last year. There has been a massive shift to online betting.
As more states continue to authorize sports betting, it becomes less mysterious and more attractive. Today, there is enough oversight and regulation to promote credibility. Delaware became the first state to permit sports betting in 2018. The Supreme Court win set the path for other states to legalize it. As of mid-2020, sports betting was legal in 18 states. Five others had already passed bills that would legalize them.
Congress has been considering federal legislation of sports betting. Even though nothing major has been enacted yet, it appears to be inevitable. In 2018, there was a hearing regarding traditional sports betting. According to experts, the sports betting market in the United States may be worth up to eight billion dollars by 2025. In 2019, it was worth only $833 million.