Over the past few years, the popularity of betting on professional wrestling has risen significantly. In 2018, you’d have been lucky to find a single betting line on the main event for WrestleMania.
These days, offshore sportsbook sites feature lines, odds, and props for most matches on the cards of pay-per-views and Premium Live Events. Pretty much any match that is known prior to the event has a solid shot of appearing at online sports betting venues.
The exclusive hold that international sports betting sites have on the spectrum of pro wrestling gambling could be in danger. WWE is now working with betting officials in some US states to include pro wrestling odds at domestic sportsbooks.
Wrestling Betting In Michigan And Colorado
Michigan and Colorado are the first two states targeted by the WWE. Promotion executives are hopeful that securing the match results with Ernst & Young, a top four worldwide accounting firm, will make state-licensed books more comfortable creating odds on wrestling matches.
Both MI and CO regulate mobile sports betting apps and also allow for in-person gambling on sports at brick-and-mortar locations.
Betting on wrestling in Colorado would require the repeal of a prohibition on gambling on events with scripted or fixed outcomes.
The Michigan Gaming Control Board is in charge of all gambling-related governance. Legal pro wrestling betting would simply require the approval of the Board.
Other Potential Domestic Entertainment Betting Opportunities
If this movement gains momentum, it has the potential to set a precedent in the domestic sports betting industry – as long as the results are safeguarded, odds can be created.
Offshore gambling sites already post hundreds of entertainment prop bets for reality television, outcomes of movies or TV shows, wrestling, and any other fictional entities receiving significant attention.
Practically anytime we visit the entertainment section at our favorite online sports betting sites, there are new categories and angles for laying some action on just about anything on the air.
These sites are our go-to for betting on WWE matches and are available to patrons across most of the USA over the web.
Will Wrestling Betting Be Exclusive To The WWE?
This weekend is the 95th Academy Awards which is one of the biggest entertainment betting events of the year. A handful of states let their regulated books post Oscars odds, but most regions have either opted out or actually have laws against them.
If it becomes legal to bet on wrestling, Oscars betting will also likely get an immediate pass. Why? The Academy Awards results are also secured with Ernst & Young. The same can be said for the Emmys.
One element of wrestling betting that the WWE will not be able to control is the ability of rival promotions to get in on the action. AEW could begin securing its results with a legitimate firm and inspire oddsmakers to post lines.
DraftKings is already a sponsor of AEW, and while they don’t allow for wagering on their matches, they do feature weekly contests that can be won by correctly picking wrestling prop bets.
It should also be noted that the WWE is currently for sale with an asking price of $9 billion. These moves could be baseless and aimed at elevating the perceived company value to potential investors.
Regardless of whether the WWE has any success broadening the scope of wrestling gambling, there’s no doubt that it is gaining traction with no signs of slowing down.
Sources – CNBC, Sports Illustrated