WWE in talks about legalizing betting on matches: Report
(NewsNation) — World Wrestling Entertainment is having talks with state gambling regulators about legalizing betting on high-profile matches, CNBC recently reported.
People familiar with the matter told CNBC that WWE is working with an accounting firm to secure scripted match results to convince regulators that there’s no chance of results leaking. The people speaking to the news outlet asked not to be named because the discussions are private.
The accounting firm WWE is reportedly working with, EY, or Ernst & Young, has historically worked with award shows to keep results a secret.
Betting on other entertainment, such as the Academy Awards, is already legal, and is available with sports betting applications. However, as CNBC noted, most states don’t allow it.
Discussions on whether betting companies are willing to place odds on WWE matches if betting on them becomes legal are yet to come, CNBC said.
Michigan, Colorado and Indiana are potential states the WWE is focusing on as it reportedly pursues legalization.
While the WWE has already registered with the Indiana Gaming Commission, the Colorado Division of Gaming told CNBC it is not currently considering letting people wager on WWE matches.
According to The Detroit News, the Michigan Gaming Control Board said that companies must request to be included in the state’s sports-wagering catalog with licensed sports-betting operators.
No formal request has been made, though, gaming board officials told the newspaper. The Michigan Gaming Control Board has received communication from a third party about adding WWE to the sports-wagering catalog, but since then there’s been no communication, according to The Detroit News.
A WWE spokesperson did not immediately respond to NewsNation’s request for comment.
Those who spoke to CNBC said allowing gambling on some WWE matches would change how they are produced and how storylines are created. Discussions have involved executives at the company proposing that scripted results of matches be locked in months ahead of when the fights happen. Wrestlers wouldn’t know the outcome until shortly before the match.