It was recently revealed that the WWE has been discussing the concept of legalising betting on scripted matches on its platform. In talks with state gambling regulators, the decades-old firm has disclosed a plan to make the practice as legitimate as possible, but there are still concerns. For the most part, critics are expecting that something scripted could easily be manipulated when it comes to sports betting, but the WWE promises that plans are in place to safeguard the platform from any malicious practices.
There are more concerns than just those that are regarding the practicality of betting on scripted matches in the WWE, though. For instance, the company’s core audience consists of millions of young people, so there are immediate concerns that the WWE will need to avoid advertising any betting markets to the impressionable youth. Ultimately, there are a lot of regulatory restrictions that will hamper the WWE from opening up betting markets on scripted matches.
Could It Even Work?
Reportedly, the WWE has a plan that includes partnering with Ernst & Young, an assurance and consulting agency, to keep match results as secure as possible. There are also indications that the WWE would keep under wraps the end result of a match until just hours before the fight itself takes place, giving wrestlers no time at all to act on those results. For the most part, it seems that the WWE is only interested in offering betting markets on the most high-profile matches, typically those found at pay-per-view events.
As the US sports betting markets open up, more states are opening their doors to the concepts of gambling – particularly online, mobile-based gambling. It has been suggested that the WWE is targeting a small portion of that market spread and has selected Michigan, Colorado, and Indiana as potential sites for the legalisation of betting on scripted matches.
Of course, there are now expectations that this’ll set a precedent for scripted gambling. For instance, there could now be markets opened up that target television shows, with bettors placing wagers on what’ll happen in future episodes of the show.
This is the latest development in the ongoing lifecycle of WWE. Recently, the firm announced that it’s up for sale, and in April 2023, the company will be meeting with potential buyers for the sports entertainment firm that started trading more than forty years ago.
For now, it’s an interesting space to watch, as this could change the near future of sports betting.