Betting On WWE Matches Is Not A Problem

“This is absurd,” UNLV Distinguished Fellow Anthony Cabot said on LinkedIn. “Please don’t tell me that any regulators are seriously considering allowing wagering on fake sports ...” 

If WWE betting is handled like other sports, all these takes would be 100% spot-on correct. But what if WWE betting is dealt with differently, like the Oscars, the Heisman Trophy, or other known-to-some outcomes? 

Per CNBC, WWE will use Ernst & Young (the same Ernst & Young that handles awards shows) to safeguard results and limit betting to high-profile matches. So here is the hot take, add small bet limits, and I’m sold. 

I’m not sold that we need WWE betting. I’m sold that if offered in a tightly controlled way, it won’t be an issue. 

On Twitter, I posted a famous gambling story in response to the news, "George Devol drew Canada Bill Jones aside and asked him if he couldn't see that the game was crooked. And Canada Bill sighed, and shrugged his shoulders, and said, 'I know. But it's the only game in town.' And he went back to the game.”

It wasn't to highlight the absurdity of WWE betting; it was to highlight that people will bet on what they want to bet on. 

Of note, Colorado regulators (one of the regulatory bodies approached by the WWE) have said they are not entertaining the idea. 

I Thought Gambling Was Supposed To Be Fun?

On the responsible gambling front, the story we are selling is that gambling should be a form of entertainment and brought into the cleansing light of regulated markets. 

The WWE is a soap opera. It’s not constrained to a specific arc. It’s a living storyline with a single goal, fan engagement.

Adults that would want to place a wager on a WWE match are well aware the matches are scripted. A WWE bet is the quintessential entertainment bet. 

It’s also important to note that this isn’t a novel idea. WWE betting is already occurring across the Atlantic. 

U.S. regulators can address any significant integrity concerns. 

Capping betting stakes or max payouts removes the incentive to provide insider information. If someone on the inside wants to risk their job and possible prosecution so their brother-in-law can win $50, it’s far from a scandal.   

Nor is there any grand WWE sportsbook conspiracy. If the betting stakes are low, with $200,000 on one side and $300,000 on the other, there is no reason for the WWE to go off-script and manufacture the betting result they want. The result they want is fans interested in tuning in to the next broadcast.

Won’t Anyone Think of the Children

The one area that needs addressing is the WWE audience, which includes many children. 

If the betting component is missing in the arena, during the broadcast, and can stay out of the talents’ monologues, it shouldn’t be a problem. Regulators could also require operators to suspend wagers 30 minutes before the event begins. That will keep adults off their betting apps in the arena.

It Won’t Be for Everyone

Not every regulatory can (by law) or will allow betting on WWE matches. And that’s fine. And different regulatory bodies will impose varying restrictions on these bets. 

Further, not every operator will accept wagers on WWE matches. Or perhaps they will offer it but with reduced caps on winning bets. It’s a novelty market that is going to produce very little revenue. 

If someone wants to bet $20 on a WWE match (bought for $9.99/month or $30-$60 for a one-time event like WrestleMania), that isn’t much of a problem. If someone is trying to wager $10,000 on a WWE match, it is a problem. It’s either a gambling problem or an integrity problem.  

The regulated U.S. market doesn’t need to offer every novelty market, but a market like WWE betting, assuming proper controls, is less of a concern to me than certain esports and ping-pong leagues. 

I’m also curious if there is even a market for WWE betting. My guess is if it’s authorized somewhere, it will be the last we ever hear about it.