Oregon Lottery shares sports betting expectations
The Lottery, which will be in charge of sports betting in the state, has shared its market expectations.
US.- The Oregon Lottery has shared its expectations for the upcoming sports betting market in the state. The Lottery, which will be in charge of running sports betting in the state, said that it expects to generate US$141.2 million in revenue.
The estimations are part of an analysis of the first three years after the launch of its SBTech-powered retail and mobile sportsbook, which was signed last month. The Oregon Lottery said that it will launch mobile sports betting soon. Spokesperson Matthew Shelby told John Canzano that they want it ready by September when the American football season begins. Retail betting kiosks will likely be up and running by early 2020.
The Oregon Lottery published projections for the sports betting market and said that total handle over the first three years of operations will total US$1.6 billion. The first year of operations could bring US$332.8 million, while the second would rise to US$555 million and US$722 million by the third year.
Moreover, the Lottery says it expects customers to win around US$306 million in the first year, US$507.4 million in the second and US$656.2 million in the third. This means that the Lottery expects winnings to total US$1.5 billion after three years.
Gross gaming revenue (GGR) would stand at US$141.2 million: it would start at US$26.6 million in the first year of contract and then increase to US$48.5 million in the second and US$66.1 million in the third.
