SBTech To Be Oregon’s Sports Betting Vendor
SBTech has been chosen to provide sports betting to Oregon.- Oregon does not need to pass any sports betting bills to get started.
- Sportsbooks looking to open before the NFL season begins.
SALEM, Ore. – The Oregon State Lottery Commission selected SBTech on March 20 to provide sports betting to the state.
Selection Process And SBTech
The Lottery Commission conducted a market survey that included internal reviews to decide who would provide sports betting for Oregon. The commission looked at three potential companies through this review. SBTech was selected over Playtech and SG Digital for a couple of different reasons.
One of the main reasons why SBTech was selected is because they are known for providing a “turn-key sports betting platform” for both the digital and retail space. SBTech also has a presence in five other casinos around the country. The lottery is attracted to the fact that the company can provide a player-centric design that focuses on player experience.
Opening Sportsbooks In Oregon
Sports betting in Oregon is already legal. Oregon was one of the four states that were grandfathered in the Professional and Amateur Sports Protection Act (PASPA) which banned states from creating sports betting laws. Oregon already had laws implemented, the state just wasn’t allowed to expand on its existing laws.
Due to the fact that Oregon was grandfathered into PASPA, the state does not need to introduce new sports betting legislation. All the Lottery needs to get done is to create a platform to provide sports betting for everyone in the state.
The Lottery Commission is hoping to open sportsbooks before the upcoming NFL season. To do this, they are wanting to team up with SBTech to open a mobile sportsbook platform. They will do so by leveraging the Oregon Lottery App.
The Money In Oregon Sports Betting
Although there is no sports betting bill to legalize sports betting in Oregon, there is legislation that will help determine what to do with the money. OR HB 2288 is legislation that will help decide what the state will do with the money generated from sports betting.
The bill requires that a percentage of net lottery proceeds from sports betting will be “applied against the unfunded actuarial liability of the Public Employees Retirement System.” The lottery says that over $100 million could be generated due to sports betting. The state is hoping to bring in 80 percent of those proceeds to the Public Employees Retirement System.
Sportsbetting in Oregon may already be legalized but it has a couple more steps to go before sportsbooks will go live. The Lottery Commission and SBTech will meet on April 5 and another regular meeting for the Commission will take place April 26.
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