WWE turning to sports regulators to try and legalize betting on scripted wrestling matches
Have you ever thought about how fun it might be to bet on professional wrestling? Well, CNBC’s Alex Sherman reported on Wednesday, March 8th that WWE is in talks with Colorado and Michigan regulators about making it legal to bet on matches.
Scoop, and a fun one:
WWE is in talks with Colorado and Michigan gambling regulators to legalize betting on matches. Yes, they’re scripted. WWE has a pitch.https://t.co/wZ7TKxU8Oo
— Alex Sherman (@sherman4949) March 8, 2023
Of course, betting on WWE has the potential to be quite messy. While hardcore wrestling fans (also known as “marks”) don’t want to admit wrestling is fake, these matches are scripted. That will present a challenge in making this whole thing work, but WWE has plans to significantly cut down on the number of people that know the outcomes of its matches. Successfully doing so might help in allowing this to become a reality.
It isn’t hard to figure out why a company like WWE would want to get involved in the betting space. Wrestling companies already have partnerships with some major sportsbooks, which offer free-to-play daily fantasy contests on some of the biggest events of the year. But there’s a lot more money to be made in making WrestleMania, Royal Rumble, SummerSlam and Survivor Series betting a viable option. Those four premium live events have significant mainstream appeal, and there would surely be a nice segment of the population that would be interested in throwing a little cash on the outcomes of some of the biggest matches.
It’s no secret that Vince McMahon is currently prepping for a sale of WWE, and the longtime head of the company is reportedly seeking $9 billion in return for his wrestling empire, according to Forbes. The company simply isn’t worth that much right now — at least in the eyes of reputable suitors — but getting a foot in the door of the gambling industry could raise the value of WWE in these negotiations.
WWE is also smart to specifically be going after Michigan and Colorado, as the two states have already shown that they are a little more willing to take a shot on some more obscure ideas. In fact, Colorado has previously posted lines for Pro League Network’s SlapFIGHT Championship. That must give wrestling fans a little hope that this will actually happen.
As of this moment, betting on wrestling matches is currently available on some offshore sportsbooks, but it’ll be a whole different ballgame if WWE wagering becomes available on some of our more reputable apps and websites.
The possibilities are endless as to what might be offered if this does end up happening. Betting on the Royal Rumble is one that could blow up in due time, as the sportsbooks could offer odds on which wrestler will last the longest in the match, whether there will be a mystery entrant (and who is it?), who will have the most eliminations and who will ultimately win.
As for more straightforward options, fans can take a stab at betting on superstar Roman Reigns’ matches. He’ll be fighting Cody Rhodes for the Universal Championship at WrestleMania 39. Reigns’ current championship run is approaching 1,000 days. Depending on who you ask, that might be viewed as a more impressive streak than the UCLA men’s basketball team’s 88-game winning streak that spanned 1,092 days between losses.
Make sure you keep an eye on how this story progresses. The early reports suggest it might not be as feasible as WWE would hope. But if WWE ever becomes something you can legally bet on, you better believe that VSiN will have you covered with all sorts of analysis on what goes on in the squared circle.