WWE Explores Adding Scripted Wrestling Matches to Sports Betting

By Matt Speakman,
Betting Expert at online-gambling.com

Matt Speakman Betting Expert at online-gambling.com

A die-hard fan of the Patriots, Matt Speakman is an expert on everything related to sports betting and DFS sites. Over the years, he has proven a valuable asset for our team at online-gambling.com. You can find Speakman's professional tips and tricks in any of his many articles on the website.

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Last updated: March 11, 2023

WWE, the world’s largest sports entertainment company, is reportedly exploring the ability to add scripted wrestling matches to the list of sports betting options in Colorado and Michigan. According to unidentified sources cited by CNBC, the company is in talks with gaming regulators in these two states to get the necessary approval.

The move comes as Colorado and Michigan are among the quickest-expanding sports betting markets in the United States. However, it remains unclear why WWE is specifically targeting these two states. Some on social media have suggested that the company may be looking to tap into bettors with a preference for unusual betting sports, for example, international baseball and table tennis.

WWE Works With Ernst & Young to Keep Match Results Confidential

To ensure that match results remain confidential until odds are set and available to the betting public, WWE is said to be working with Ernst & Young (EY), a leading accounting firm. However, it is uncertain whether regulators in Colorado and Michigan will approve WWE betting, given the concerns about match-fixing and betting integrity.

The Colorado Division of Gaming has already confirmed that it is not considering WWE betting, and there is no guarantee that Michigan will approve such a move either. The Michigan Gaming Control Board has published a brochure of events and sports that might be offered to bettors in the state, but this does not guarantee approval.

It has been speculated that one reason for WWE’s interest in sports betting is the company’s desire to sell itself. Former Chairman and CEO Vince McMahon stepped down from these positions last year amid allegations of sexual misconduct, but he returned as executive chairman in January to prepare the company for acquisition. McMahon is reportedly looking to sell WWE for $9 billion, but some believe he may be intentionally overvaluing the company to delay a deal.

Potential suitors for WWE include Endeavor Group Holdings, Inc., Liberty Media, Amazon, Disney, and Fox, among others. While only Endeavor and Fox have direct ties to sports betting, it is unclear whether this is a factor in their evaluation of a WWE acquisition.

Concerns About Match-Fixing and Betting Integrity

In an effort to promote similarities between betting on scripted events and award shows, WWE has pointed out that accounting firms like EY and PwC supervise the tabulation of votes for prestigious awards such as the Academy Awards and Emmys. Betting on the Oscars was allowed in New Jersey in 2019, and a few other states, including Michigan and Colorado, have also done the same thing. However, unlike awards shows, WWE match outcomes are scripted long before, raising concerns about betting integrity.

Therefore, while WWE’s interest in sports betting may be motivated by its desire to sell the company, there are no guarantees that regulators in Colorado and Michigan will approve WWE betting. Given the concerns about match-fixing and betting integrity, it remains to be seen whether WWE’s scripted matches will join the growing list of sports wagering options in these states.