Lottery officials intend to launch Oregon sports betting in time for football season. The lottery hopes to put the state at the forefront of a national sports betting bonanza after a U.S. Supreme Court decision last May cleared the way for every state to get into the business.

The numbers are potentially huge. Ten months since New Jersey sports bets went live, its “handle” (total dollars wagered) has topped $1 billion per quarter. Investment bank Morgan Stanley last November predicted that American sports betting could reach $215 billion a year by 2025.

“There is a huge pent-up demand,” said David Forman, director of research at the American Gaming Association. The creation of a “legal outlet” for sports gambling, Forman said, will attract millions of Americans who were unable or unwilling to participate in the black market that existed before.

Local lottery officials warn that Oregon is a relatively small market. But even here, they expect the handle will hit $330 million in the first year and more than double to $680 million by the third. That is an enormous number given the lottery’s total annual revenue in 2018 was $1.3 billion.

“We have about 3 million eligible players in Oregon, many of whom bet illegally now,” said Farshad Allahdadi, the Oregon Lottery’s chief gaming officer. “Our challenge is to create a compelling product that can draw a portion of those illegal betters and attract a whole new group of customers.”

More on Oregon sports betting at the Bend Bulletin.