WWE in talks to legalize betting on matches
WWE is seeking to legalize gambling on matches, working with EY to secure scripted match results to convince regulators.
WWE, the popular professional wrestling company, is reportedly in talks with state gambling regulators to legalize betting on high-profile matches. The move is being made in collaboration with accounting firm EY to secure scripted match results, thereby convincing regulators that there is no chance of results leaking to the public. The company is targeting Michigan, Colorado, and Indiana as potential states to pursue legalization. WWE executives have cited Oscars betting as a template to convince regulators that gambling on scripted matches is safe. However, even if regulators allow gambling, betting companies would have to decide if they're willing to place odds on WWE matches. In discussions about how gambling on wrestling could work, WWE executives have proposed that scripted results of matches be locked in months ahead of time, and wrestlers themselves wouldn't know whether they were winning or losing until shortly before a match takes place.
If WWE succeeds in its bid to legalize gambling on matches, it could open the door for legalized betting on other guarded, secret scripted events, such as future character deaths in TV series. Allowing gambling on certain WWE matches would alter how matches are produced and how storylines are created. The introduction of legalized gambling could give WWE an increased appeal to a new set of fans while significantly altering creative storylines. However, the move would also require the company to lock in scripted results well ahead of time, which could potentially limit creative flexibility.
While Academy Awards betting is already legal and available through some sports betting applications, most states don't allow it. Betting on WWE matches, even if legalized, could face opposition from those who oppose gambling in general or believe it is inappropriate to bet on scripted events. Regardless, the move could potentially give WWE a new revenue stream and increase its appeal to a wider audience. The company is also preparing for a sale process and is set to meet with potential buyers next month, according to sources familiar with the matter.