WWE exploring possibility of legal betting on scripted matches: report
By Weston Blasi
World Wrestling Entertainment wants to incorporate betting on its events in a similar fashion to the Academy Awards
World Wrestling Entertainment Inc. (WWE) is in talks with Colorado and Michigan state regulators to legalize betting on the company's events, according to a CNBC report Wednesday.
The WWE is working with accounting firm Ernst & Young on trying to find a way to organize legal wagering on the company's scripted wrestling events without the match results being leaked to the public, CNBC reported.
Ernst & Young also works with awards shows, including the Academy Awards, to make sure results don't get leaked to the public prior to their announcement. Betting on awards shows is legal, and currently happens on many sports-betting platforms, including FanDuel and DraftKings (DKNG).
"The Colorado Division of Gaming is not currently and has not considered allowing sports betting wagers on WWE matches," a spokesperson for the Colorado Department of Revenue told MarketWatch.
Representatives for the WWE, and Ernst & Young and Michigan gaming regulators for did not respond to MarketWatch's request for comment on this story.
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The introduction of legal gambling sponsorships and endorsements into professional sports has been a swift change in the past few years, but WWE partnering with sports-betting operators has a different set of hurdles due to its scripted nature.
In 2018, when the U.S. Supreme Court ended the Professional and Amateur Sports Protection Act, it gave states individual legislative power to legalize sports betting. Some form of live sports wagering is legal in 33 states, plus Washington D.C., according to the American Gaming Association
The news comes amid reports that WWE may be up for sale. Controlling shareholder Vince McMahon reportedly wants as much as $9 billion for the company.
-Weston Blasi
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March 09, 2023 09:12 ET (14:12 GMT)
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