How Sports Betting Could Boost The WWE – World Wrestling Entertainment (WWE), on the Corporate page of its website, describes itself as an “integrated media organization and recognized leader in global entertainment,” but most people will know it for its wrestling programs and events. The WWE has come a long way and is now the most famous professional wrestling organization on the planet, hosting stars such as universal and WWE champion Roman Reigns, intercontinental champion Gunther, Raw women’s champion Bianca Belair and SmackDown women’s champion Charlotte Flair.
There has been talking of bringing sports betting to the WWE, but the nature of the sport — i.e. the scripted matches — could prove problematic. How could the organization make sports betting happen? Below is a look at how the WWE could legalize sports betting, some of the obstacles to it and at the potential benefits of sports betting for the WWE.
Legalizing betting in the WWE
It seems the WWE has been looking into legalizing sports betting on some of its high-profile matches and has been in touch with state regulators about the possibility of making it happen. Michigan, Indiana and Colorado are all potential states the organization is seeking to target, according to sources.
One of the issues around WWE is that the matches are scripted, which, in theory, makes it possible for the results to reach the public before a match takes place. Naturally, in the world of sports betting this is a major problem because punters are betting on the outcomes.
According to the sources, however, the organization has been in private talks with the accounting firm EY to address this. The firm has worked with the Academy Awards and the Emmy Awards on keeping the results of these ceremonies secret in the past.
Skepticism and potential obstacles
Despite excitement from some camps, others are skeptical or unwelcoming in their attitudes to the idea of sports betting in the WWE. Some companies within the industry have been very vocal about their opposition to it. Some feel that the level of sports betting activity will be only modest and not worth the effort the companies themselves might have to take to support WWE sports betting.
Then there, of course, the questions of integrity that the WWE is trying to tackle around the issue. Some also fear that the introduction of sports betting could destroy the creative process.
More practical is the fact that some state laws may simply oppose sports betting on the WWE because of its scripted nature. Some states don’t allow gambling on events that have fixed outcomes.
How sports betting could benefit the WWE
As in any walk of life or when someone or something wants to take on a venture, it’s natural for there to be doom mongers and naysayers. That doesn’t mean the WWE should automatically dismiss its alleged wish to introduce sports betting into the organization. The benefits could be highly advantageous to the WWE. What are they?
Greater fan engagement
The WWE already has a huge following. A quick look at the Twitter accounts of its stars will reveal they have followers in their millions. Sports betting would allow the organization and the sport to gain an even greater following. The NFL, the MLB and the NCAA have all experienced a surge in followers after the introduction of sports betting.
That’s because to wager successfully, or at least stand a chance of laying down a successful wager, fans must study keep up with what’s going on in an organization and how it could be a factor in either losing or winning when wagering. They must study the stats, analyze performance and other aspects of a sports player or team’s activity and understand how it could affect their bet.
Betting on esports
Although betting on esports is still in its early days, this is also an area into which the WWE may wish to look. The WWE already has a game and may wish to get involved with tournaments or events in which esports players battle it out in the game. Sports betting firms could then also partner up with the organization.
Sponsorships
Sponsorships are a stellar way for an organization to bring in income. They can bring in money for the wider organization and/or they can support a promising young sportsperson financially so that they can go on to pursue great things in the sport.
Media partnerships
Sports betting companies work with media companies and channels, This is a superb way for the WWE to reach even more fans, as sports betting companies are likely to have their own audience. The sports betting company could even help the organization to create relevant content for its fans.
Sports betting for the WWE isn’t impossible, but it’s encountering a lot of opposition and obstacles. This might not always be the case, however, because there are solutions. If the organization can overcome these challenges, it could enjoy some major benefits from allowing sports betting into the arena.
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How Sports Betting Could Boost The WWE
