Oregon joins 22 other U.S. states in surpassing $3 billion in sports betting, marking a significant milestone in the industry's growth.
Oregon's sports betting market, operated by DraftKings since 2020, has seen significant growth since its launch in 2019. The transition from Scoreboard app to DraftKings Sportsbook marked a turning point, with Oregon's sports betting revenue surging nearly 50% since the change in 2022.
The market rebounded strongly, aided by the accessibility of mobile betting, and has consistently driven the largest volume from September to January, peaking in December 2024. This period saw a record-breaking monthly handle of $90.2 million.
The impact of COVID-19 was evident in a low point of $4.4 million in April 2020, but the market has since recovered and is on pace to top previous records with the current data in 2025. The recent months show even higher retention rates, with a hold rate of 13.05% through May.
Over the nearly six-year span, Oregon sportsbooks have accepted over $3 billion in bets, generated $322.5 million in sportsbook revenue, and posted an average hold rate of 10.71%. This has resulted in $49.4 million in revenue already this year, with a significant increase from $331.6 million in 2021 to $498 million in 2022.
The success of Oregon's sports betting market is reflected in the substantial tax benefits it has provided the state. Since 2019, Oregon sportsbooks have contributed over $161.2 million in tax revenue, which is allocated to education, economic development, and responsible gambling initiatives.
Oregon's single-operator system offers regulatory simplicity, and the state has now joined the ranks of Mississippi and West Virginia, which have also surpassed the $3 billion milestone in betting handle. West Virginia is poised to be the 24th state to eclipse this milestone in the coming weeks.
In conclusion, Oregon's sports betting market has demonstrated impressive growth and financial contributions to the state. As the market continues to thrive, it will be interesting to see how it compares to other states in the future.
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