The WWE enjoys a significant and dedicated fan base in Michigan, contributing to the popularity of the wrestling entertainment phenomenon within the state. Michigan has a rich history of wrestling fandom, with many passionate supporters attending WWE events and tuning in to watch the televised broadcasts. 

The electrifying atmosphere created by the combination of larger-than-life personalities, captivating storylines, and spectacular in-ring performances has captivated Michigan audiences for years. From the iconic Wrestlemania events to the thrilling weekly shows, Michigan fans eagerly embrace the world of professional wrestling, making it a thriving market for the WWE. The state’s vibrant sports culture and enthusiastic fan community make Michigan an ideal location for the WWE to explore potential opportunities, including the inclusion of scripted wrestling matches in the sports betting landscape.

The WWE is reportedly engaged in discussions with gaming regulators in Colorado and Michigan to explore the possibility of including scripted wrestling matches in the list of sports betting options in those states to allow bets at these Michigan-based online casinos and offers as well. According to undisclosed sources cited by CNBC, the WWE is collaborating with Ernst & Young (EY), a prominent accounting firm, to develop strategies for safeguarding match results and ensuring they remain confidential before odds are set and released to the public for betting.

The reasons behind the WWE’s specific focus on Colorado and Michigan are not entirely clear. However, it is worth noting that these two states are experiencing rapid growth in their sports betting markets. Some Twitter users humorously speculated that the wrestling entertainment company might be targeting Colorado due to the state’s interest in unconventional sports like international baseball and table tennis.

However, the Colorado Division of Gaming clarified that it is not currently considering WWE betting and has no plans to pursue such an avenue. The Michigan Gaming Control Board maintains a catalog of events and sports that could potentially be offered to bettors in the state, but it does not guarantee approval for all entries.

The current catalog includes niche segments such as the American Ultimate Disc League, the Academy Awards, drone racing, college hockey, lacrosse, and softball. Nevertheless, the availability of these offerings to Michigan bettors in regulated markets is subject to regulatory approval.

One speculative theory suggests that the WWE’s interest in legal sports betting is connected to the company’s ongoing efforts to sell itself. Former Chairman and CEO Vince McMahon, who stepped down from his positions last year amid allegations of sexual misconduct, returned as executive chairman in January to prepare the company for a potential acquisition. Speculation suggests that McMahon may be seeking a $9 billion deal and could potentially overvalue the company to delay a transaction.

Several entities have been rumored as potential buyers, including Endeavor Group Holdings (the parent company of UFC), Liberty Media (owner of Formula One), Amazon, Disney, and Fox, among others. Among these potential suitors, only Endeavor and Fox have direct ties to sports betting, while Disney has more indirect involvement in the industry. However, it remains uncertain whether sports betting is a significant factor attracting or deterring potential buyers of the WWE.

To support its case for including scripted events in sports betting, the WWE is drawing comparisons to award shows such as the Academy Awards and Emmys, highlighting that reputable accounting firms like EY and PwC oversee the tabulation of votes for those honors.

While betting on the Oscars was initially allowed in New Jersey in 2019 and subsequently expanded to other states like Colorado and Michigan, there is an important distinction between betting on awards shows and the WWE. The winners of the Emmys and Oscars are determined before the shows are aired, whereas the outcomes of WWE matches, especially those at prominent events like Wrestlemania, are predetermined weeks or even months in advance. This distinction raises concerns among regulators regarding the integrity of betting in relation to scripted wrestling matches.