DKNG Stock – DraftKings Oregon: Oregon Sports Betting App Moves to DraftKings
Oregon sports betting is a sole operator market, which is why the state has not been prosperous in the wagering industry. However, the market is expected to become much more lucrative moving forward.
On Thursday, the Oregon Lottery unanimously approved switching its lone operator from the SBTech Scoreboard app to DraftKings Sportsbook. There have been countless complaints about SBTech’s software and line juicing, so this was an easy decision from the Oregon Lottery to enhance the market.
Necessary transition in Oregon
Oregon sports betting has utilized one operator since it launched last year. SBTech has been sufficient, but the Scoreboard app has not been sought after by bettors in the state. SBTech will still have a small role in the market because the company merged with DraftKings last year.
The combination of SBTech and an industry conglomerate like DraftKings will pay dividends in Oregon for a single source betting state. The plan since the merger has been for the Scoreboard app to transition to DraftKings.
Daily Fantasy Sports will also be ended in the state because the legality of sports betting has been debated. This is not expected to lose significant money for the state because of DraftKings’ ability to attract people to its sportsbook.
The Oregon Lottery did not specify a date for when the transition would occur, but it’s believed to occur in the near future. Although, there is a goal to capitalize on the NFL and N(BA) betting seasons.
When these sports merge in the fall, along with MLB playoffs and the beginning of NHL, there are numerous bets placed throughout the United States. Football season is the most lucrative time of the year, and Oregon will perform better with DraftKings leading the charge.
Oregon Lottery Director Barry Pack spoke about the transition following the unanimous decision: “One of the factors we’re going to have to work on soon is how to fit a transition from one platform to the other while still heading into a busy season of professional sports. Both the NFL and N(BA) are coming up here really soon. We want to make sure that we’re able to seize the right window when we have enough information to know what it’s going to take and how long it’s going to take to make the transition work.”
Current users will need to register for DraftKings even if they have a Scoreboard account. This is not expected to be an issue to market the sportsbook.
Oregon sports betting needs to improve
The Oregon sports betting market has some constrictions. One example of this is there is no collegiate betting allowed in the state. Additionally, there is no competition in the sports betting market, so Oregon is not expected to put up massive numbers.
Oregon had a sports betting handle of $25 million in June. Other states with smaller populations put up larger numbers. The Oregon Lottery has the goal to change this by bringing DraftKings into the state.
Pack believes the transition will pay off. He said, “We may see some players who choose not to make that transition, but I think that will probably be offset by the improved customer experience and the additional wagering options that the DraftKings platform will offer. The DraftKings platform is a lot more familiar to regular U.S. sports bettors. The SBTech platform was more of a European design.”