The hobby of sports betting continues to gain popularity across the United States, with various states reporting record-breaking financial results. Oregon, in particular, has seen a significant increase in sports betting activity, with a new all-time high figure posted in December.
In December, bettors in Oregon wagered a total of $73.2 million on sports, surpassing the previous record of $71.9 million set in October. This represents a 38.1% increase from the $53.8 million wagered in December 2022. American football was the most popular sport, accounting for nearly a third of the total handle, with $23.1 million wagered on football. Basketball, soccer, and ice hockey followed as the next most popular sports, attracting millions of dollars in wagers.
Single bets were the preferred choice for most bettors, with $48.1 million in wagers, while parlay wagers accounted for $25.1 million of the total handle. Several other states also experienced record-breaking months in December, including Maryland, New Jersey, and Massachusetts.
Oregon’s revenue also reached an all-time high, with DraftKings, the sole legal sports betting operator in the state, reporting revenue of $9.7 million. This represents a 70.2% year-on-year increase and a 14.1% increase from October’s previous record of $8.5 million. The revenue from different sports mirrored their popularity, with football generating the most revenue, followed by basketball and soccer.
Interestingly, while single wagers were more popular, the revenue from parlay bets exceeded that of singles. Parlay bets brought in $5.7 million in revenue, while single wagers generated $4 million. In an effort to expand offerings, Oregon and DraftKings agreed last year to allow fans to wager on a variety of unusual disciplines, including the Tour de France, Major League Baseball’s Home Run Derby, and even the Nathan’s Hot Dog Eating Contest.
Overall, the surge in sports betting activity and revenue in Oregon reflects a growing trend across the country as more and more states embrace this popular hobby.