Predetermined Event Wagering and Betting on the Past

Abstract

The newfound freedom of states to legalize sports betting following the demise of the Professional and Amateur Sports Protection Act in 2018 has led to rapid growth of the sports betting market. In an attempt to further capitalize on the appetite for sports wagering, states and sportsbooks have recently started to expand their offerings by opening betting lines on entertainment award shows. This move, paired with WWE’s recent interest in entering the market, has raised concerns that predetermined events are particularly vulnerable to event manipulation and betting using insider information. This Note argues that the current state regulatory schemes are insufficient to safeguard the integrity of these predetermined events. By examining the history of sports betting legislation and analyzing the distinct ways in which integrity concerns manifest in predetermined event wagering compared to traditional sports betting, this Note will identify the gaps that exist in current regulatory schemes. This Note will then propose four regulations for states to adopt if they are to consider approving wagering on predetermined events.

Keywords: Sports betting, Sports gambling, Sports wagering, Event integrity, Gaming law, Award shows, Professional wrestling