By JONI AUDEN LAND/Oregon Public Broadcasting
Oregon’s sports betting market continues to surge, both in terms of dollars wagered and the number of people placing bets.
In the first quarter of the fiscal year — July, August and September — the amount of money bet on sports in Oregon increased by 22%, to more than $184 million. There has also been a 22% increase in the number of people participating in sports betting in the state, with about 71,000 placing bets in September alone, according to Oregon Lottery figures.
That resulted in $23 million in gross sports betting revenue for the Oregon Lottery, a nearly 50% increase compared to the same period last year. For comparison, the lottery saw $55 million in sports betting gross revenue for all of fiscal year 2023.
It’s the kind of growth not seen in other lottery games, like scratch tickets and video lottery machines, which have mostly remained profitable but flat.
“It’s been a surprise to us,” said Kerry Hemphill, who oversees sports products for the Oregon Lottery. “There really has not been any sign of that train slowing down yet.”
Hemphill attributes the growth in part to the Oregon Lottery’s sports betting platform, DraftKings. Like other betting companies, ads for DraftKings have been nearly inescapable on sports television. Sports fans have become accustomed to all kinds of commercials, as well as broadcast networks promoting in-game betting.
The number of sports betting options in Oregon is still small compared to other states. Bettors still can only use DraftKings on a mobile platform, or bet at tribal casinos. The state doesn’t have in-person sportsbooks found elsewhere.
Oregon’s exclusively digital sportsbook is not common compared to other states. Critics have raised concerns that online gambling in particular increases the risk of bettors becoming addicted.
Hemphill said the Lottery doesn’t know when it will reach its ceiling with sports betting. But there’s an expectation the market will eventually reach its full potential. It could take five to seven years for that to happen.
Yet the sustained growth continues to surprise lottery officials. Sports betting in Oregon could see a 20% growth each year for the next three years, Hemphill said.
“We had assumed that that growth would become harder and harder to acquire after each year,” she said. “We aren’t matching population growth — we’re much larger than that and growing beyond inflation.”
- This story originally appeared Nov. 3, 2024 on Oregon Public Broadcasting.