If it was a private matter leagues would be inclined to either self-police the behavior or just admit the whole thing is rigged. I mean, WWE seems to do just fine with a completely fixed system.
If it was a private matter leagues would be inclined to either self-police the behavior or just admit the whole thing is rigged. I mean, WWE seems to do just fine with a completely fixed system.
It's institutionalized fraud, and a fundraising method for organized crime.
> WWE seems to do just fine with a completely fixed system.
Nobody is currently permitted to wager anything on those fixed WWE matches.
As with all other regulations intended to protect idiots from themselves, the industry is looking to repeal it.
If they are good sports and just kill the clock, is that fraud? If somebody pays them to kill the clock and not cover the spread, is that fraud?
Is risk of somebody manipulating the outcome like this just part of what makes it a gamble?
Yes. It’s called point shaving and it is fraud.
Making things illegal/banned might feel good at first, but if it's barely enforceable and/or the demand for that thing remains very high all you are doing, as a state, is foregoing on a lot of taxes while not even diminishing harm often (sometimes even causing your own harm... I'm looking at you "war on drugs"... and before that the alcohol prohibition).
Financial institutions have required reporting already, watching for large transactions is already in place.
Coming up with penalties and sentences for violations would be the trickier part.
Making it a criminal matter is just a subsidy to the gambling industry.
Exactly, that's what I don't get. Is the criminal act that it's a 3rd party person and not the league itself?
> According to a March 2023 CNBC report, WWE—which produces fixed sports-style events such as WrestleMania and Royal Rumble—wants to quell gambling regulator concerns by reducing the chances that high-profile match outcomes leak to the public.
> WWE is “working with” the accounting firm EY, better known as Ernst & Young. EY and rival PwC have helped safeguard results for the Academy Awards, a fixed entertainment event available for wagering in select sports betting states. As it stands, betting operators like DraftKings Sportsbook, FanDuel Sportsbook, BetMGM Sportsbook and Caesars Sportsbook have offered limited wagering on the Oscars.
> WWE, which agreed to merge with UFC... is reportedly pursuing regulated wagering in CO, IN, MI. However, multiple state gambling regulators disputed the CNBC report that used anonymous sources.