In anticipation of the launch of an SBTech-powered retail and mobile sportsbook, the Oregon Lottery has projected revenues of $141.2m over the first three years of sports betting in the state.
The lottery has previously confirmed plans to launch its mobile sportsbook offering ahead of the National Football League (NFL) season kicking off in September, which is set to be complemented by the roll out of retail betting kiosks in early 2020.
Oregon Lottery has developed a series of strategies looking at revenue projections for its sports betting product, having anticipated that total transactions handled over the initial three years of operation will amount to approximately $1.6bn.
This has been broken down into three constituent parts, the first year is expected to take $332.8m, with hopes of it jumping to $555.9m in the second, then $722.3m after three years.
The majority of the handle is expected to be returned to players in the form of winnings, with year one expected to result in around $306.2m in year one, then $507.4m in the second year, and $656.2m in the third, totalling $1.5bn.
Gross gaming revenue is expected to total f $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.