Betting on wrestling is actually a thing. And if one has inside information, it can be a very lucrative thing.
According to Dave Meltzer of the Wrestling Observer, a WWE insider placed a $3.36 10-match SummerSlam bet that earned him a jaw-dropping $45,600. This individual capitalized on knowing the finishes of these matches as an employee inside of WWE. Frankly speaking, the only way to nail 10 matches in the same bet would be to have access to privileged information.
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The monumental win for the insider proved to be catastrophic for the website they were using. The losses were so bad that now other websites will no longer be offering WWE on their menu of gambling. These sites are forced to protect themselves as this is the equivalent of betters knowing the finish of NFL games. At its core, this is insider trading.
Even further, Meltzer claims that WWE talent themselves are getting in on the action. This means that backstage, WWE employees are getting the results of matches and rushing to the betting window. And the gambling sites can do nothing about it.
Betting odds in wrestling are volatile, to say the least. Odds can swing dramatically right before a contest. This is when the “smart money” swoops in and makes a hefty wager on long odds. We now know that these “smart money” fellows could actually be some of our favorite WWE Superstars.
If you don’t understand gambling then most of this will be a tough concept to grasp. Just know that people in WWE are getting the results of WWE contests (because they’re pre-determined if you’ll remember…) and cashing in. Another example of this comes from last year’s Survivor Series during Goldberg’s shocking win over Brock Lesnar.
Leading up to the match, Lesnar was the overwhelming favorite at 5-1. However in the moments right before the actual bout, Lesnar become a 10-1 underdog. This means that someone with privileged information put down a fat sack of money on Goldberg right at the buzzer. So when Goldberg beat Lesnar in less than the minute, some people got really rich.
At this rate, betting on wrestling may soon become a thing of the past. It places websites in a vulnerable position to hemorrhage money and that’ is most certainly bd for business.
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