According to CNBC‘s original reporting, the WWE has been in discussions with regulators in Colorado as well as Michigan to legalize sports betting on high profile WWE fights. Sources close to the matter claim that this is true.
WWE Explores the Possibility of Betting on Scripted Fights
However, if states cleared this type of betting, it would only raise integrity concerns, observers believe. The outcomes of fights would be known, and the risk of a leak would be high. According to reports, WWE is working with Ernst & Young to show that neither the outcome of such fights nor their leakage would be known to the public.
Ernst & Young previously supported legalization of Academy Awards gambling. They kept the results secret to prove that it is possible to predict the outcome and still have a fair market for this activity. Similar to the Oscars, WWE has a similar view. Some places have already made Oscars betting possible, so why wouldn’t sportsbooks allow WWE fights? These are entertainment and not purely athletic.
Official WWE comments have not been made to clarify the situation. However, Colorado has denied the rumors. CNBC spoke briefly with the Colorado Division of Gaming, and it stated that it does not intend to allow betting on WWE matches at this time. However, legalizing WWE matches as betting events is possible.
It is possible to script the bets, but it takes some work
It could also serve as a model for other possible betting markets. Sportsbooks may even offer bets on the death of a TV show character. This market is especially useful if you’re a fan of Game of Thrones or its spinoffs. If any event is approved for betting, new processes would be required, which could increase the responsibility of WWE and other entertainment programs that want to explore this option.
The winner would be determined far in advance and kept under lock and key. Only a few people can trace back the outcome. There are many potential benefits to the WWE. The WWE could use betting to encourage people to tune-in and revive its declining viewership.
