WWE Seeks Legal Authorization for Betting on Main Events
WWE looks to bring the excitement of betting to popular matches in the U.S., partnering with Ernst & Young to ensure the confidentiality of scripted fights.
Scripting fights has been a tricky business for WWE, with secrecy being key to keep things under wraps. In the past, they've collaborated with events like the Academy Awards to keep results hidden until broadcast. They also strictly guard the results from the wrestlers themselves to prevent any leaks.
Services like FanDuel and DraftKings already provide betting opportunities for events like the Oscars. WWE aims to go a step further, expanding betting on major wrestling competitions. However, instead of traditional money-based betting, it'll be more like a quiz-style game offering cash prizes to winners who can correctly predict the fight's outcome.
Betting on WWE isn't exclusive to the U.S. already; it's available in bookmakers worldwide. In the States, it's been a slow process, but All Elite Wrestling has already partnered with DraftKings, allowing fans to bet on main fights and events in a slightly different format.
If the legalization of betting doesn't work out, WWE has a plan B in place: betting on fictional storylines related to each fight instead.
Sports betting is slowly becoming legal in more states, yet California, Florida, and Texas remain unwavering. Whether these states will warm up to WWE betting remains to be seen.
Wrestling Entertainment, commonly known as WWE, is an American powerhouse in professional wrestling. Beyond wrestling, they've delved into media, film, and American football, among other ventures. They license their concept and intellectual property to third parties for various productions.
Founded in 1953 as Capitol Wrestling Corporation, WWE is now the global leader in wrestling promotions, available in over a billion households in 30 languages.
It's important to note that WWE's push for legalized betting is part of a broader trend in the U.S., where sports betting is gradually becoming legal state-by-state. However, there's no definitive evidence that WWE is spearheading these legalization efforts directly. Instead, the move toward legal betting on wrestling events is intertwined with state and national regulatory developments.
Missouri, for example, recently passed legislation legalizing sports betting, with operations set to commence by December 1, 2025. Other states like Pennsylvania and North Carolina have also legalized sports betting and are developing partnerships with sports leagues and entities. In the case of WWE, they'd likely fit within these existing regulatory frameworks.
The potential impact of legalized betting includes increased viewership, engagement, and overall revenues for WWE. However, regulatory bodies would need to address potential challenges around integrity, transparency, and potential manipulation. Like other sports, WWE could monetize the betting market by providing official statistics and real-time data.
In states with established sports betting markets like Colorado and Michigan, WWE betting would operate under current rules, potentially benefiting from league partnerships or data licensing models seen elsewhere.
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Sports-betting, traditionally associated with games and events in the sports world, is now part of the finance discussion in WWE, as they aim to offer a quiz-style game-based betting system for major wrestling competitions, mirroring services like FanDuel and DraftKings. Despite California, Florida, and Texas remaining skeptical about sports-betting legalization, WWE's move toward legal betting is intertwined with state and national regulatory developments, similar to other sports leagues.
