New Oregon Sports Betting Legislation Would Expand Market

• Oregon could see multiple sportsbook applications in 2021 if a new bill that was just introduced passes in the Oregon State Legislature this session.
• Governor Kate Brown backs OR HB 2127 that would provide the Beaver State with a more competitive and profitable structure for its sports wagering market.
• Millions of dollars could be made yearly in revenue for gambling on sporting events in Oregon under this proposal.

SALEM, Ore. – The Oregon State Legislature does not convene for its 2021 session until January 19 but new legislation for the Oregon sports betting market was introduced on Monday.

House Bill 2127 had its first reading among lawmakers, having an advocate in Governor Kate Brown who is backing the proposal for the Oregon Racing Commission.

Sports betting in Oregon is currently run by the Oregon Lottery and is restricted to the lottery’s mobile application Scoreboard and a handful of land-based Tribal sportsbooks statewide.

What House Bill 2127 Would Do In Oregon

The Beaver State hasn’t been very successful with its sports gaming industry through its present structure. After a roll out in October 2019, the market has seen over $263 million in handle with a slim $23 million in revenue to show for it.

This is a positive for an industry that was in the red during its first six months after launching to the public, having been down $2 million due to a less than favorable contract with their operator SBTech.

But House Bill 2127 would change the entire landscape of the Oregonian sports betting industry and make it a more profitable one.

The Oregon Lottery would no longer regulate the market, naming the Oregon Racing Commission as the new regulator to oversee the industry. Mobile sports betting applications would have no cap and any number of operators could apply to open their platforms in the state.

This allows sports bettors more than the single option they have now, making for a more competitive market. At this time, the details on a revenue percentage are vague but it’s expected to be high enough to offer real financial gains for the state’s General Fund.

Other changes that would be seen outside of a new regulatory body and multiple sports betting operators would be the allowance of gambling on college sports in Oregon. Residents have been unable to wager on the Oregon Ducks or Oregon State Beavers because the law as it’s currently written prohibits it. However, the Ducks have a huge fanbase in the state with gamblers eager to wager on their sporting events which could provide further profits.

Yet, if any college or league does not agree with this stipulation, they can always ask to ban any number of wagers from being placed on their games as is stated within the proposal.

For live in-game betting, official league data must be used but no other wagers are listed as needing to use such information.

In addition to these rules, all potential operators will need to pay an application fee of $50,000 and a yearly renewal fee for their license at the same rate.

What’s Coming

Legal sports betting in Oregon could be seeing a change coming in their future if OR HB 2127 receives passage. The bill has been drafted to provide the state with a more lucrative industry for sports gaming.

Oregon is at the bottom of the leaderboard in the nation for how well the sports gambling market has done for them and their economy. With the Coronavirus Pandemic causing such financial problems across the country, Oregon is welcoming any extra revenue it can and this may be a way to do it.

Although the Oregon State Legislature begins on January 19, floor time will be limited. More floor meetings on bills such as OR HB 2127 are expected to occur in April.

News tags: Coronavirus pandemic | COVID-19 | House Bill 2127 | Kate Brown | OR HB 2127 | Oregon | Oregon Ducks | Oregon Lottery | Oregon Racing Commission | Oregon Scoreboard | Oregon State Legislature | SBTech