If wagering on the results of scripted sporting events seems like a wild idea, it’s not as far fetched as you might think. Not only do some overseas sportsbooks already accept bets on pro wrestling matches, but WWE is talking to legislators in several states about how it could work here in the U.S.
That’s according to an article by CNBC, which cites sources close to discussions WWE is said to be having with gambling regulators in Colorado and Michigan. No one involved in those alleged talks would comment to CNBC.
Your first thought might be something like, “Wait, wouldn’t there be a big risk of betting on something for which someone already knows the outcome?” That’s a natural common sense response to this idea, and the reason that to date, wagering on WWE matches isn’t legal.
To make it work, WWE would have to change the way it does things — at least for certain events, as the article notes that betting would only be allowed on “high-profile matches,” like those at WWE’s premium live events. The thought is that WWE would have to decide the winners of those matches months ahead of time, then hand them over to a third party for safekeeping. EY, the accounting firm that also secures results for the Academy Awards and Emmys (except when it doesn’t) would be involved here.
What about the wrestlers themselves? They also wouldn’t be told who’s winning their big matches until hours ahead of time. Needless to say, that’s not the way things work at the moment, but it would be necessary to ensure that as few people know as possible. The whole thing hinges on the betting public feeling safe in the knowledge that they’re wagering on something where no one has inside information.
Perhaps the wildest part of this idea is that the casinos and online sportsbooks would have to decide for themselves if they would accept action on WWE matches even if it’s legal, and then only in the states that decide to approve it. That might be a hassle they’re not willing to undertake … unless the demand for it is huge.
In any case, it’s a thought-provoking idea that shows WWE is willing to go to great lengths to tap into new revenue streams, even if it means changing the ways it does certain things. This is going to be a story worth tracking as it unfolds over the months to come.