WWE, widely recognized as a global powerhouse in professional wrestling entertainment, has recently made headlines as it engages in discussions with state gambling regulators to delve into the intriguing realm of legalizing betting on its high-profile scripted matches. The motivation behind this move is twofold: to amplify fan engagement and potentially pave the way for wagering on other secretive scripted events, thus revolutionizing the landscape of sports betting.
To ensure the utmost integrity and confidentiality, WWE has joined forces with EY, the distinguished accounting firm known for its expertise in maintaining the privacy and secrecy of crucial information.
In this comprehensive article, we will delve into the intricate details of WWE’s ongoing discussions. We will analyze its meticulous strategy to preserve the confidentiality of match results. Additionally, we will explore the potential target states where legalization may be pursued. Finally, we will examine the profound impact such a groundbreaking decision would have on the wrestling industry as a whole.
WWE Collaborates with EY to Safeguard Match Results
Confidential sources with insider knowledge reveal that WWE has taken a proactive step by engaging in discussions with state gambling regulators, specifically in legal online casino states. The objective is to establish a legal framework for betting on WWE’s highly anticipated scripted matches.
Recognizing the importance of maintaining utmost confidentiality in professional wrestling, WWE has formed a strategic partnership with EY, a renowned accounting firm. EY has a strong record of upholding secrecy and integrity in prestigious events. These events include the Academy Awards and the Emmys.
By harnessing EY’s extensive experience and expertise in preserving the confidentiality of sensitive information, WWE aims to reassure regulators that the risk of match results being leaked to the public is minimal. In doing so, WWE endeavors to establish a solid foundation for the legitimacy and integrity of betting on scripted matches, ultimately enhancing the overall fan experience.
Drawing Inspiration from the Academy Awards
Drawing Inspiration from the Academy Awards, WWE has turned to a compelling example to support its case in persuading regulators about the safety and feasibility of gambling on scripted matches. To bolster their argument, WWE has pointed out the existing legality of betting on the Academy Awards, which is already facilitated through specific sports betting applications.
It is worth mentioning that renowned companies like DraftKings and FanDuel have already embraced this trend by offering betting options for the Oscars in certain states. While the voting results of the esteemed Academy Awards are confined to a limited group before the official announcement, it is crucial to emphasize that the outcomes are not predetermined by writers. This distinction is of utmost importance as WWE embarks on their quest to obtain betting approval for scripted matches, as it poses unique challenges unlike those encountered in award shows.
Betting Companies’ Stance and Discussions Yet to Occur
Although WWE’s discussions with state regulators progress, betting companies would need to evaluate their willingness to offer odds on WWE matches if legalization occurs. Currently, betting firms have not engaged in substantial discussions regarding this matter, as per sources familiar with the subject. The decision to embrace WWE matches as a legitimate betting option would require careful consideration from these companies, taking into account various factors, including potential risks and fan interest.
Targeting Potential States for Legalization
WWE is eyeing three potential states—Michigan, Colorado, and Indiana—to pursue legalization. Michigan, which already has a Sports Wagering Catalog, undergoes regular updates approved by the Michigan Gaming Control Board and shared publicly through the agency’s website and sportsbook operators.
The company has also registered with the Indiana Gaming Commission in connection to this initiative. However, it is important to note that the Colorado Division of Gaming has clarified that it is not considering allowing sports betting wagers on WWE matches, citing an existing statute prohibiting bets on events with predetermined or predicted outcomes, including the Academy Awards.
The Impact of Legalized Gambling on WWE Matches
If WWE successfully legalizes gambling on its matches, it could set a precedent for other protected, secret scripted events to enter the betting landscape. This development would have significant implications for how matches are produced and storylines are created. In preliminary discussions regarding gambling on wrestling, WWE executives have suggested locking in scripted match results months in advance.
Wrestlers themselves would remain unaware of whether they are slated to win or lose until shortly before their respective matches, thus adding an element of suspense. For instance, the WWE has the ability to finalize the outcomes of Wrestlemania’s main event several months in advance, building upon a scripted storyline that heavily depends on the winner of January’s Royal Rumble.
Subsequently, betting on the match could occur starting from the conclusion of the Royal Rumble. It could extend up until just a few days or even hours before Wrestlemania. This allows the wrestlers and individuals involved in the show’s production to discover the results at the same time.