A lot of states are seeing a dip in their sports betting handles in February. This is common during this time of year, despite the massive handle that sportsbooks get from the Super Bowl. But when you open a sportsbook, you should be aware of the behavior of the betting market throughout the year so these things do not surprise you. The Oregon sports betting handle also drops in February, after hitting the highest handle ever in January.
The sports betting handle for February is $29,6 million. This is 15.3% lower than January’s $34.9 million. January’s sports betting handle is the highest monthly handle the state recorded since they opening back in October 2019. Meanwhile, the gross gaming revenue also dipped in February, at $2.68 million. This is 30.7% lower than January’s $3.87 million. We at Bwager Blog have a few ideas on the dip.
Oregon Sports Betting
The handle dropping on February just means that February hits a slump because it has fewer days (specifically weekends). It also signifies the end of a busy NFL Season as the Super Bowl happens in the first weekend of February. But there are more reasons that those who use bookie software solution are unfamiliar with. States have different laws on sports betting, so the outcome of their betting markets also tend to reflect on their state laws.
For example, Oregon has a single sports betting operator. The lack of competition gives players no choice but to bet on one sportsbook- and some do not find value in the lines. This leads to residents preferring to bet outside the state. Oregon also does not allow college sports betting. This is a huge hit on the betting market, especially since college sports betting is very popular for both basketball and football.