Oregon Lottery reports 43% rise in sports bets

Sports Betting

Oregon sports betting has quickly become one of the state Lottery’s most popular products since it first became legal in 2019, with the number of players increasing by 43% from 2022 to 2023.

Oregonians wagered more than $565 million on sports betting during the last fiscal year. That’s more than all the money spent on Powerball, Mega Millions, Keno and Scratch-it tickets combined. Bettors wagered an average of $5,603 total during the previous fiscal year, according to Oregon Lottery data.

It’s a new, lucrative revenue stream for a state heavily reliant on Lottery dollars, but critics argue it’s hooking a younger generation on a particularly dangerous form of gambling.

In Oregon, Lottery dollars make up the second-largest source of revenue outside the general fund.

Of the $565 million placed on bets last year, the state took home $55 million after prizes and other payouts. DraftKings, the sole sportsbook in the state, takes a 49% cut of the total revenue.

That’s a tiny fraction in the Lottery’s overall $1.67 billion net revenue, which is still dominated by video slot machines. But sportsbook revenue increased 72% in one year, according to a state audit of the Lottery’s finances, and has seen surging popularity each year.