Oregon Lottery Registers a 293% Yoy Increase in Sports Betting Revenue

The GGR from sports betting has registered a massive rise in 2021. The GGR for May 2021 is $2.4 million. This is a 293% increase from the GGR of May 2020, which was $598,061. The figures for 2020 were lower due to the Covid-19 pandemic. But the statistics for 2021 are much higher due to a good performance led by the Scoreboard sportsbook of DraftKings. But despite a good performance, the GGR in May was lower by 11.1% compared to April. The GGR for April 2021 was $2.7 million. 

 

But the total gambling handle for Oregon rose in May 2021 to $27.7 million, up by 280.8% from May 2020. May 2021 is also 9.5 % higher than the handle for April 2021, which was $25.3 million.

 

Basketball was the most popular sport for sports wagers in May, with a total handle of $2.4 million. Basketball was followed by baseball and soccer. The handle for baseball in May was $4.6 million, and that for soccer was $2.4 million.

 

Analysts have also divided up the handle into types of bets. Single and teaser bets accounted for $21 million of the handle for May 2021. The rest, $7.7 million, came from systems and combo wagers on different sports matches. 

 

Sports betting experts had also found that around 510,989 bets were placed in May before the sports event started, and 280,188 bets were placed while the event was live. But the amounts wagered in both these cases had an average similar monetary value. 

 

Oregon State has turned betting into a hugely lucrative industry that provides tax income as well as employment. As a result, there is a growing trend in the business, and it can be expected that as pandemic restrictions are reduced further over the next couple of months, this trend will pick up speed.