The month of August proved to be a successful month in Oregon for the state’s only sports betting app and site – Scoreboard. The sportsbook enjoyed an 84% increase in sports betting handle for the month of August compared to July.
The app brought in just under $26 million in terms of wagers, which means that the state netted $1.662 million in revenue. And, while these numbers are certainly good news for both Scoreboard and Oregon, in comparison to what other states saw in the month of August, it’s still far behind.
Coming up Short Despite the Increase in Sports Betting Handle
The 84% increase certainly sounds good on the surface and well worth celebrating, but it doesn’t show the full picture.
When you factor in all of the live professional sports that occurred in the month of August including MLB, the NHL playoffs, and the NBA playoffs, it’s clear that the handle could have been even bigger.
The problem is that when you take a look at the sports betting handle in Oregon and the increase that was realized in August, it falls well short of what so many other states are currently bringing in.
All you have to do is take a look at New Jersey who just posted a record-setting month in August, which is something every state is striving for right now. New Jersey’s betting handle for the month of August was a staggering $668 million, which makes Oregon’s handle look very miniscule.
The majority of Oregon’s bets were placed on NBA wagers, with MLB coming in second. The rest of the handle was divided between the NHL, table tennis, and soccer.
The fact that Oregon’s NBA team, the Portland Trailblazers, has been eliminated from the NBA playoffs could have a negative impact on the industry as well.
What Can Oregon Do About It?
The question on everyone’s mind right now is what can Oregon do about the industry moving forward?
The state is looking into how it can inject some fun, improve engagement, generate excitement, and bring some entertainment into the sports betting industry moving forward. However, it will have to deal with a few big issues in order to accomplish these goals.
One major issue that experts have pointed out is the fact that Scoreboard is the only option for those looking to place a wager.
Competition is healthy and it’s often the consumers, in this case those placing wagers, who benefit. Currently, Scoreboard can set any prices it wants, knowing that people can’t just go to the competition instead.
So, while it’s working in the favor of Scoreboard, the average person looking to place a wager is instantly at a disadvantage.
There’s also the fact that Scoreboard doesn’t offer any betting on college sports through its app or site. College sports are incredibly popular not just here in Oregon, but the entire country. Taking that option away really hinders profits.
As of right now, Oregon hasn’t announced any plans to bring in other sports betting apps or to allow betting on college sports.
September will be a telling month on whether or not Oregon’s current sports betting strategy will be truly fruitful or still fall short of the state’s overall potential.
Rick Rockwell
As a longtime freelance writer, avid sports fan, former athlete, and experienced sports bettor, Rick Rockwell has risen up the ranks at GamblingSites.org to become the self-professed “King of the Blog” in his first year with the site. …
