The popularity of sports betting in the United States continues to rise as more and more players across multiple states join in on the action. This trend is evident in the increasing financial results reported by regulators in various jurisdictions. Oregon, for example, saw a surge in its sports betting handle, reaching a new all-time high.

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 of the same year. This figure represents a significant 38.1% increase from the $53.8 million wagered in December 2022. American football emerged as the most popular sport for betting, accounting for nearly a third of the total handle, with fans in Oregon wagering $23.1 million on football in December. Basketball followed as the second most popular sport, attracting $16.5 million in bets, while soccer and ice hockey garnered $3.3 million and $2 million in wagers, respectively.

Single bets were the favored choice among bettors, raking in $48.1 million in wagers, while parlay wagers contributed $25.1 million to the total handle. The trend of record-breaking months extended to other states as well, with Maryland, New Jersey, and Massachusetts also reporting strong results.

In addition to the surge in wagers, Oregon also saw its revenue hit an all-time high, with DraftKings, the sole legal sports betting operator in the state, posting a revenue of $9.7 million. This represents a remarkable 70.2% increase from the previous year and a 14.1% increase from October’s record of $8.5 million.

The revenue from different sports mirrored their popularity among bettors, with football generating $3.5 million in revenue, followed by basketball at $2.9 million and football at approximately $606,000.

Despite the dominance of single wagers, the revenue from parlay bets exceeded that of singles, with parlay bets generating $5.7 million in revenue compared to $4 million from single wagers.

Last year, Oregon and DraftKings expanded their offerings, allowing fans to bet on a wider range of sports, including the Tour de France, Major League Baseball’s Home Run Derby, the American Cornhole League World Championship, and even the Nathan’s Hot Dog Eating Contest.

By admin