Residents in Oregon wagered US$17.1 million during the first full month of mobile sports betting operations in the state through the lottery’s app.
US.- Oregon’s SBTech-powered mobile sports betting app has already proven successful. According to recent figures, residents wagered US$17.1 million through Scoreboard in November. It was a solid first full month after legalising the vertical earlier this year.
The authorities saw 720,084 bets come through the app, with an average stake of US$23.76. Not only the segment thrived, but it also generated revenue of US$961k, which suggests a hold of 5.14%.
The most popular sports in Oregon mobile betting was basketball. It accounted for US$8.6 million (50.3%) of the total and US$587k revenue (6.82% hold). American football came in second with US$6 million handle (35.2%), 3.10% hold and US$186.5k revenue.
Sports betting growth
Activate, a management consulting for media, technology and sports business, released the sixth annual report that studies the state of the industries. The information in the report indicates that sports betting will grow to US$149 billion by 2023 in the United States.
They said that the amount wagered on sports will grow from US$13 billion to US$149 billion by 2023. The US sports betting market will begin to take the shape of financial trading markets. The firm also said that it will have an infinite number of possible wagers extending well beyond the outcome of a game.
“When fully legalised, institutional investors will participate in the sports betting market and employ sophisticated data sets and AI to gain an edge,” said Activate in the Technology and Media Outlook 2020 report.