The state of Oregon becomes the latest to jump into the sports betting world with the Wednesday launch of their betting app called ‘Scoreboard’.
In this case, Oregon is the rare state that is jumping back into the world of sports betting. That’s because they along with Nevada were exempt when the Supreme Court originally passed PASPA in 1992.
Citizens were able to bet on sports through the lottery, however it was abandoned in 2007 due to pressure from the NCAA and the professional sports leagues.
The lottery will be running this iteration as well, however it will be as modern as can be this time around.
According to lottery spokesperson Matt Shelby, “We’re talking about a true mobile-based sportsbook that gives players the opportunity to wager on a variety of pro sports.”
This makes Oregon the eighth state in the nation to offer live sports betting through an app and the 12th to have some form of app based legal sports gambling.
The app will provide in-game betting options that will help to expand the number of options that gamblers have on what to bet on. Citizens will only be able to bet on professional sports teams through mobile means, including their one in-state team, the Portland Trail Blazers.
Initially the state was hoping to launch Scoreboard in time for the start of the NFL Football season, but they realized they needed more time to work out last second kinks from the system.
The way the system will work is that bettors will need to establish an account with the lottery. They’ll be able to keep a maximum of $250,000 in the account and there is no minimum. That money will be insured by the FDIC.
The state lottery leaves it at their discretion how much they’ll accept from any one individual bettor.
“We’re not obligated to take all wagers,” said Shelby. “So, if someone came in, theoretically, and had $250,000 in their account and tried to put that down on a single game, it would be met with heavy scrutiny. And frankly, I’d be surprised if we took it.”
In order to compete with offshore and the established ways that current residents are placing bets, there won’t be any fees charged to bettors and withdraws and deposits from their lottery account to their bank account will be instant.
The Oregon lottery partnered with SBTech, the same company that powers up Church Hill Downs, the famed race track that hosts the Kentucky Derby as well as the Golden Nugget Casino in New Jersey.
Geofencing is going beyond the usual parameters of ensuring that only people within the state are allowed to use it. The technology will also prevent people on tribal lands from betting in order to best work together with the state’s tribal casinos.
On tribal lands, sports betting is restricted to in-person betting only.
The state is projecting $300 million in revenues during the first year with a profit of $5 million. The aim is for it to bring in $30 million to the state by year three.