State Gaming Officials Thwart WWE Betting Activities
Yesterday, following a report by CNBC, implying WWE was in talks to allow gambling on its events, all three states mentioned in the article denied this claim.
Early in the morning of the same day, the Colorado Division of Gaming published a statement due to the "inaccurate depiction" in the article suggesting WWE was discussing with the division about allowing sportsbooks to offer betting markets on their matches.
As opposed to actual sporting events, WWE matches are pre-determined.
The statement declared, "At present, and in the past, the Colorado Division of Gaming has not entertained the idea of sports betting wagers on WWE matches." It further emphasized, "Neither the organization, nor any state gaming regulator in Colorado has ever communicated with the WWE about incorporating wagers on our approved list."
The statement continued, recognizing that state law forbids offering odds on events with fixed or predictable outcomes or those purely based on chance.
Not long after, the Michigan Gaming Control Board released a statement stating there have been no direct communications with WWE employees or executives regarding allowing licensed sportsbooks in the state to offer markets. It did acknowledge that a third-party consultant had briefly discussed the topic, but nothing substantial came out of it.
MGCB Executive Director Henry Williams said any official request to introduce an event for betting requires it to originate from a state-licensed operator or platform provider. So far, none have taken such steps.
Williams concluded, "If the WWE wishes to bring a proposal before the MGCB, it should engage with the gaming industry."
Later in the evening, an Indiana Gaming Commission spokesperson stated they had "no intention of authorizing gambling on scripted events."
Regulations for sports betting vary by state, thus some states, like Indiana and Michigan, allow betting on events like the Academy Awards, whereas states like New York prohibit bets on such outcomes as a league's Most Valuable Player recipient.
The CNBC report received criticism from many within the gaming industry after it was published.
Contessa Brewer, an anchor and gaming industry reporter for the network, tweeted on Wednesday that she received an uncensored response from BetMGM CEO Adam Greenblatt when she asked during an iGamingNEXT session about his interest in offering bets on WWE events.
Later in the day, Brewer questioned if @BetMGM CEO Adam Greenblatt would be keen on taking bets on @WWE scripted matches. His response, according to Brewer, was "NFW!" (which caused laughter during the @IGamingNEXT session).
The CNBC report also mentioned that WWE officials have been collaborating with Ernst & Young to maintain script secrecy to prevent bettors from discovering outcomes before matches. The organization will allegedly not reveal the winners to wrestlers until just before their matches.
Despite the opposition from within the industry, it's not difficult to comprehend why some beyond the gaming sphere may suggest the idea, especially since some offshore operators already offer odds.
WWE, a publicly traded company, produces a widely popular product. During their fourth-quarter earnings call last month, executives shared with stock analysts that broadcasts for SmackDown and RAW, their weekly shows, drew an average combined viewership of 3.9 million viewers for the 2022-23 television season. Both shows are experiencing viewership increases.
Pay-per-view audiences have also been robust, with January's Royal Rumble's broadcast audience 52% higher than the previous record crowd set the year before.
Shows across the country fill arenas with crowds comparable to major professional and collegiate sports teams.
