WWE Is Discussing Legalizing Match Betting for High-Profile Events
by NOMAN RASOOL | VIEW 449
It is said that World Wrestling Entertainment (WWE) is in talks with state gambling regulators about making betting on big wrestling matches legal. To persuade regulators that there is no risk of the outcomes being leaked to the public, WWE executives are collaborating with the accounting firm EY (Ernst & Young) to ensure that the confidential nature of scripted match results remains intact.
The organization demonstrates that it can gamble safely on scripted events using the already legal Academy Awards betting offered by sports betting apps like FanDuel and DraftKings. However, in contrast to the Oscars, WWE matches are scripted by writers, and betting companies have yet to decide whether they will offer odds on such matches even if they become legal.
WWE is said to concentrate on Indiana, Michigan, and Colorado as states where legalization could be pursued. The company has already registered with the Indiana Gaming Commission regarding this initiative. However, Colorado prohibits bets on events with fixed or predicted outcomes, so the Colorado Division of Gaming has stated that it is not currently considering allowing bets on WWE matches.
Legalized Betting Could Transform The Scripted Event Production Process
If WWE succeeds in legalizing betting on its matches, it may set a precedent for betting on other secretive scripted events, such as the deaths of TV show characters.
To make betting on wrestling feasible, WWE would have to secure the prearranged results a very long time ahead of time, with grapplers just learning the outcomes presently before the matches occur. This strategy would significantly alter the production process and storylines for the matches.
Legal gambling may influence WWE's creative direction and attract new fans. In July, Paul Levesque, or Triple H, became the head of WWE's innovative operations. He succeeded Vince McMahon, who resigned from his position as chairman and CEO due to allegations of s*xual misconduct.
McMahon has since gotten back to the WWE board as leader executive. WWE will meet with potential buyers next month to prepare for a potential sale. In any case, there is no assurance that an exchange will happen.