In a remarkable display of growth, Oregon’s sports betting market has hit record-breaking figures in October, signaling a new era of prosperity in sports wagering within the state.
According to the Oregon Lottery’s latest report, DraftKings, the state’s licensed sports betting operator, has outperformed expectations with a staggering $71.9m in wagers, marking a significant increase of 17.2% from the previous month and an impressive 29.4% year-on-year growth.
This surge in betting activity resulted in a record revenue of $8.5m, surpassing previous benchmarks with a win percentage of 11.9%. This achievement represents a 26.9% increase from September 2023 and an astonishing 49.1% growth compared to October 2022, contributing approximately $4.3m to the state.
Football led the charge as the most popular sport for wagering, with $27.2m in bets, followed by strong performances in basketball, baseball, soccer, tennis, and ice hockey. This trend underscores the growing enthusiasm and engagement of sports bettors in Oregon, who have collectively wagered $530.5m in the first ten months of 2023 and over $1.02bn since DraftKings became the state’s sole sportsbook in January 2022.
Further Insights and Developments:
Sports Betting Landscape in Oregon: The diverse betting landscape in Oregon, with football at its epicenter, has seen substantial handles in other sports like basketball with $8.1m, baseball with $7.4m, and more than $5m each in soccer and tennis, not to mention ice hockey attracting $2.5m.
DraftKings’ Dominant Role: Since taking over as Oregon’s exclusive sportsbook operator, DraftKings has played a pivotal role in expanding the sports betting market, with their innovative approach and robust platform drawing in a broad spectrum of bettors.
Leadership and Governance: August marked a significant development in the governance of the Oregon Lottery, with Governor Tina Kotek appointing Michael Wells as the permanent director. Wells, who served as the interim director since December 2022, now leads the Lottery Commission and oversees the administration and management of the agency, playing a crucial role in shaping the future of sports betting in Oregon.
Oregon’s sports betting landscape is experiencing unprecedented growth, setting new records and demonstrating the potential of a well-regulated and dynamic market. With DraftKings at the helm and strong leadership within the Oregon Lottery, the state is well-positioned to continue this upward trajectory in sports wagering. The enthusiasm for sports betting among Oregonians, coupled with strategic management, bodes well for the future of sports wagering in the state, offering promising prospects for continued success and innovation.
SOFTSWISS Jackpot Aggregator Sees 2.6x Surge in Bets: 2023 Report
In a dynamic year for the iGaming industry, the SOFTSWISS Jackpot Aggregator has released its 2023 report, offering insights into significant trends and achievements.
Notably, the report reveals a staggering 2.6 times increase in bets participating in jackpots, shedding light on the growing appeal of these mechanics among operators and players alike.
A Year of Remarkable Growth
Throughout 2023, bets participating in jackpots experienced consistent quarterly growth, witnessing a remarkable 165% increase from January to December. By the end of the year, the total value of these bets had surged to an impressive 6.396 billion euros. Moreover, the number of jackpot campaigns witnessed a substantial growth of 3.8 times compared to the previous year, totaling 230 campaigns.
Expanding Reach and Impact
One of the standout achievements of 2023 was the expansion of the Jackpot Aggregator’s footprint. The number of brands utilizing its jackpot solution tripled within the year, culminating in over 70 active brands by year-end. This surge in adoption reflects a heightened level of market trust and interest in the product.
Introducing the Prime Jackpot Campaign
A significant milestone of 2023 was the introduction of the Prime Jackpot campaign, which debuted in Q4. This innovative feature garnered considerable attention and interest from players across various casinos. The Prime Jackpot campaign allows operators to participate in shared prize pools, ensuring that rewards are drawn from the collective pool rather than from a specific brand operator. This approach not only offers larger rewards to attract more players but also enhances player engagement and loyalty while optimizing operational costs for operators.
Insights from SOFTSWISS
Aliaksei Douhin, Head of SOFTSWISS Jackpot Aggregator, shared his insights into the year’s achievements. He emphasized the noticeable increase in clients and connected casino brands, as well as the growing volume and value of bets in jackpots. He expressed satisfaction in witnessing clients actively embracing the Jackpot Aggregator and recognizing the added value it brings to their brand operations. The solution empowers operators to provide players with enhanced gaming experiences and more enticing winnings. Client feedback is actively collected and analyzed to ensure clients have access to the most sought-after tools and mechanics.
Looking Ahead to 2024
In 2024, the SOFTSWISS Jackpot Aggregator is set to extend its reach to a wider spectrum of clients. This expansion will be guided by a customized approach, ensuring that each client can tailor the product’s capabilities to meet their specific requirements.
Meet SOFTSWISS at ICE London
The SOFTSWISS Jackpot Aggregator team will be present at ICE London from February 6th to 8th, 2024. They are ready to showcase their latest advancements and engage in discussions with existing and potential clients.
SOFTSWISS is a renowned international iGaming company that offers certified software solutions for managing gambling operations. With a dedicated team of over 2000 employees spread across Malta, Poland, and Georgia, SOFTSWISS holds multiple gaming licenses and provides comprehensive iGaming software solutions. Their diverse product portfolio includes the Online Casino Platform, the Game Aggregator featuring thousands of casino games, the Affilka affiliate platform, the Sportsbook software, and the Jackpot Aggregator. In 2013, SOFTSWISS made history by introducing the world’s first Bitcoin-optimized online casino solution.
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