Oregon Launches the Scoreboard App, Expects $300 Million in Bets

For the first time since the state dissolved parlay betting in 2007, Oregon is poised to reintroduce sports betting to residents with the release of the Scoreboard mobile app.

On Wednesday, October 16th, state officials in the Oregon Lottery is expected to officially launch Scoreboard, the new mobile app to handle all sports betting for the state.

Oregon Lottery spokesman Matt Shelby told CNBC that “we’re talking about a true mobile-based sportsbook that gives players the opportunity to wager on a variety of pro sports.”

Source: cnbc.com

Last weekend, state officials put the Scoreboard app through its final testing. According to CNBC, six hand-picked testers were given $100 to place bets on an Apple iOS device, Android device and desktop computer.

Testers made bets in real-time and went through the process for depositing, betting and then, after a few winners were confirmed, allowed to withdraw the money via the Scoreboard app. On Monday of this week, officials and engineers went over the test and Lottery executives were pleased with the results, giving the go-ahead to the app’s launch.

Read also: Oregon Lottery Takes Sports Bets as High as $250,000

There are several premium features that Lottery officials are excited to bring to bettors. From real-time betting to high limits, the Scoreboard app is a state-of-the-art advancement that could bring the state several million in tax dollars in the first year.

Officials are primarily thrilled by Scoreboard’s capabilities to handle real-time bets. With the NBA season on the horizon, one of the biggest draws for the app will be the ability for local bettors to wager during the game on proposition bets with the popular Portland Trail Blazers franchise.

Trail Blazers CEO Chris McGowan believes that the app can “broaden the Trail Blazers fan base among Oregonians.” And that “the addition of sports betting is exciting, and we look forward to exploring potential opportunities to expand our partnership.”

Scoreboard will also allow players to load up to $250,000 into their account and take high-limit bets that other apps in other states can’t even come close to matching.

What Are the Early Expectations of Betting Revenue in Scoreboard’s First Year?

Early estimates by lottery officials believe that the app could generate a handle of close to $300 million in its first year of existence and bring in $30 million in revenue for the Lottery by Scoreboard’s third year.

To date in the United States, over $11 billion has been wagered legally since the 2018 Supreme Court decision to open the floodgates to sports betting across the country.

That handle has translated into over $100 million in tax revenue for states and those are numbers that are exciting to Oregon Lottery officials on the eve of Scoreboard’s release.

“Generating more than $115 million in tax revenue,” Casey Clark of the American Gaming Association said. “If you look at how quickly this has evolved, essentially from one state which had a monopoly in Nevada, and fast forward, now you’ve got almost 20 places across the country; it’s a remarkable growth story.”

Source: cnbc.com

Scoreboard will only be able to take bets on professional sporting events over the first several months of release, but spokesperson Shelby said that an agreement could be made to offer collegiate events somewhere down the road.

“I’m not going to say never,” Shelby said, “but we definitely have to have a lot of engagement with our higher-ed institutions and the governor’s office and legislators before we make a move in that direction.”

Source: cnbc.com