Oregon projects revenue of $141.2m from sportsbook launch
The Oregon Lottery has revealed that it expects to generate $141.2m in revenue over the first three years following the launch of its SBTech-powered retail and mobile sportsbook.
After formally signing a contract with SBTech earlier this month, the lottery aims to launch a mobile offering ahead of the National Football League (NFL) season in September, followed by retail betting kiosks early in 2020.
It has now published a series of revenue projections for the product, which estimates that total handle over the first three years in operation will amount to $1.6bn. This breaks down to $332.8m in the first year, rising to $555.9m in the second, then $722.3m after three years.
The lottery expects the bulk of handle to be returned to players as winnings. Customers are expected to win around $306.2m in year one, then $507.4m in the second year, and $656.2m in the third, totalling $1.5bn. This will leave gross gaming revenue of $141.2m, starting at $26.6m in the first year of the contract. Revenue will rise to $48.5m in the second year, then $66.1m, the lottery says.