Would you place a bet on an event with a pre-determined outcome? The WWE thinks you will. That is why the company is exploring what its options are for making it legal for fans to bet on its scripted matches.
Alex Sherman of CNBC reports that WWE bosses have discussed the possibility with regulators in Michigan and Colorado. The steps that professional wrestling would have to take are significant, but so are the implications if regulators approve betting on scripted matches.
Sherman writes that the WWE is already working with Ernst and Young to secure the scripted results of its matches. The company wants to show regulators that it can keep the results from leaking to the public before shows air.
Ernst and Young is the accounting firm trusted with keeping the results of Oscar voting secret. That event has already been approved for bettors. The Academy Awards will be on cards at several sportsbooks including FanDuel and DraftKings before the trophies are handed out on March 12.
If gambling on WWE matches became legal, it could cause some big changes in television. On the gambling front, it could open the door for bettors to lay money down on the results of other scripted events. Sherman cites the deaths of major characters on television shows as an example.
As for writers, they would have to lock in stories months in advance. The WWE points out that this would be a change to the way their shows are written. It would ensure that line movement does not change the scripted outcome.
Vince McMahon is actively searching for a buyer for the WWE. He and board members are set to begin meeting with potential buyers next month. McMahon’s asking price is reportedly near $9 billion. The ability to generate significant gambling revenue would almost certainly help push bids closer to that number.
