This week, the US gambling industry was in a bit of turmoil when a CNBC article claimed that certain states were in discussions to legalize WWE wagering. BetMGM‘s CEO Adam Greenblatt responded in a colorful manner when asked if it would accept WWE wagers. His response was “NFW!”
He need not be worried. According to the CNBC report, both the Michigan Gaming Control Board as well as the Colorado Division of Gaming have denied that such talks took place.
According to the outlet, WWE would lock the results from the scripted fights. This is especially true for those that were created months ahead of time in order to preserve the integrity of the sport. However, stakeholders were against it.
These sentiments are now being echoed by regulators.
The Michigan Gaming Control Board released a statement that stated: “The MGCB have not had direct communication with WWE officials about legal betting in Michigan for its events.”
Its Executive Director Henry Williams stated that any request to be included in Michigan’s Sports Winnings Catalog must be submitted by a Michigan-licensed operator/platform provider. The agency has not received formal requests regarding WWE events wagering.
“The WWE should collaborate with the gaming industry, if it wants to present a proposal to the MGCB.”
The furore over WWE betting was caused by the fact that the watches were pre-determined before the event. This was compared to betting on awards shows like the Emmys and Oscars. However, these markets are not available in all states.
Europe allows betting on WWE in the UK. However, stakes are very limited. However, it does not seem that the model will be copied on the west side of the Atlantic, judging by the initial reaction of the industry and subsequent response of regulators.
The Colorado Division of Gaming stated that the CDG has not and will not consider allowing sports betting markets to be placed on WWE matches. Colorado’s state gaming regulator has never spoken to the WWE about allowing wagers on our approved bets list.
Colorado law prohibits wagers on events that are predicted or fixed, or simply by chance. This includes Academy Awards wagers.
This opportunity for WWE would have provided a unique way to diversify its presence within sporting markets and increase fan engagement with its products. This is before there was any chance of sportsbook partnership.
These dreams may not be realized for the moment. It seems that WWE betting is unlikely to be coming to the US, despite industry resistance and regulators not only refusing talks but also not knowing the situation.
