WWE in talks with state gambling regulators to legalize betting on scripted match results
Vince McMahon attends a press conference to announce that WWE Wrestlemania 29 will be held at MetLife Stadium in 2013 at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey.
Michael N. Todaro | Getty Images
WWE is in talks with state gambling regulators in Colorado and Michigan to legalize betting on high-profile matches, according to people familiar with the matter.
WWE is working with the accounting firm EY to secure scripted match results in hopes it will convince regulators there’s no chance of results leaking to the public, said the people, who asked not to be named because the discussions are private. Accounting firms PwC and EY, also known as Ernst & Young, have historically worked with award shows, including the Academy Awards and the Emmys, to keep results a secret.
related investing news
Betting on the Academy Awards is already legal and available through some sports betting applications, including market leaders FanDuel and DraftKings, although most states don’t allow it. WWE executives have cited Oscars betting as a template to convince regulators gambling on scripted matches is safe, the people said.
Still, while Academy Awards voting results are known by a select few before they’re announced publicly, they aren’t scripted by writers. Even if regulators allow gambling, betting companies would have to decide if they’re willing to place odds on WWE matches even if it’s legalized. Those discussions have yet to occur at betting firms, according to people familiar with the matter.
A WWE spokesperson declined to comment. A spokesperson for EY couldn’t immediately be reached for comment.
According to a Michigan gaming spokesperson, the Michigan Gaming Control Board publishes a Sports Wagering Catalog. When updates to the catalog are approved, the information is shared publicly through the agency’s website and with sportsbook operators.
The Colorado Division of Gaming told CNBC it has not currently and has not considered allowing sports betting wagers on WWE matches.
Under lock and key
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. 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, according to people familiar with the matter. The wrestlers themselves wouldn’t know whether they were winning or losing until shortly before a match takes place, said the people.
For example, the WWE could lock the results of Wrestlemania’s main event months ahead of time, based on a scripted storyline that hinged to the winner of January’s Royal Rumble. Betting on the match could then take place between the end of the Royal Rumble and up to days or even hours before Wrestlemania, when the wrestlers and others in the show’s production would learn the results.
The introduction of legalized gambling could give WWE an increased appeal to a new set of fans while significantly altering creative storylines. Paul Levesque, whose wrestling name is Triple H, took over as head of WWE’s creative operations from Vince McMahon in July. McMahon stepped down as WWE chairman and CEO last year amid sexual misconduct allegations but returned to the WWE board in January as executive chairman to prepare the company for a sale process.
WWE is set to meet with potential buyers for the company next month in preparation for first-round bids, two of the people said. There’s no assurance a transaction will take place.
WATCH: The marketplace is robust for our product, says WWE CEO Nick Khan
Sheffield Wednesday vs Barnsley: All you need to know ahead of playoff final
AMANO HOTEL BERLIN – A PROPERTY OFFERING TRAVELLERS SOMETHING SPECIAL
The ‘New Opium War’: America’s deadly fentanyl invasion could be China’s revenge for ‘century of humiliation’
2024 Porsche Panamera Spotted Working Out At The ‘Ring Gym
Abu Dhabi: NYUAD hosts its largest commencement ceremony since inception
Earth Will Receive an ‘Alien’ Transmission From Mars This Week
This Queer Running Society Wants to Make the Sport More Inclusive
What’s Up With Mouth Taping as a Sleep Hack?
Maria Sharapova Shares the Workouts That Help Her Feel Energized as a New Mom
American women’s secret war in Afghanistan
Billionaire Brothers’ Far East Sees Robust Sales At Singapore Housing Project Despite Property Curbs
How Erdogan held on to power
Parsing China’s ambiguous Ukraine war mediation
Jimmy Page’s Secret Job on Led Zeppelin’s Early Albums
Russia struggling to keep its SE Asia arms markets
Sport21 hours ago
Mikayla Demaiter embraces no bra club as she wows fans in hotpants
News5 hours ago
GOP Senate Candidates Who Want You to Forget About Their Past Trump Criticism
Politics23 hours ago
Biden circle seeks to boost Harris ahead of 2024
News20 hours ago
Tragedy as girl, 4, is killed in house fire over Bank Holiday weekend
News20 hours ago
Considering Amazon Kids+? Here Are Some Tips and Tricks
Finance16 hours ago
Beijing Unveils ‘Web3 White Paper’ to Foster Innovation and Advancing the Industry
Finance16 hours ago
Scotland’s Latest Attempt To Kill Its Own Economy
Finance17 hours ago
XRP to Exceed All Expectations In 2023? Latest New Value Report Boosts Altcoin Forecast 100x