A high-stakes gamble that launched a wrestling empire
In short: In May 2019, All Elite Wrestling held its inaugural event, Double or Nothing. Born from a bet and fueled by rapid ticket sales, this Las Vegas-themed spectacle wasn't just a show; it was the high-stakes opening move for a new era in professional wrestling.
The origins of Double or Nothing trace back to a bet made with wrestling journalist Dave Meltzer. After All In's triumph, The Elite—comprising Kenny Omega, Cody, and The Young Bucks—obtained funding from Tony Khan and Shahid Khan to launch All Elite Wrestling (AEW). The promotion was officially founded on January 1, 2019, with the first major event scheduled for Memorial Day weekend. The group's momentum followed the success of the independent event All In. This newfound support allowed the founders to pursue further ventures with backing from businessmen Shahid Khan and Tony Khan.
The event, held at the MGM Grand Garden Arena in Paradise, Nevada, on May 25, 2019, was a massive commercial success. Pre-sale tickets sold out almost immediately, and when general public sales opened on February 13, 2019, the remaining inventory vanished in just four minutes. The card featured nine matches, including a high-profile rematch between Chris Jericho and Kenny Omega, and a notable victory for Cody over his brother, Dustin Rhodes. The Las Vegas theme was established alongside the official announcement of the promotion. Even the pre-show, titled The Buy In, was broadcast on ITV4 in the United Kingdom.
Critical reception was strong, with the Jericho vs. Omega match and the Cody vs. Dustin Rhodes match receiving significant praise. The latter was even named the Match of the Year by Pro Wrestling Illustrated. The show's prestige grew when it earned the 2019 Wrestling Observer Newsletter Award for Best Major Wrestling Show. Beyond the ring, the event served as a platform for major industry shifts, including the confirmed signings of Jon Moxley and Awesome Kong. The night concluded with a surprise appearance by Jon Moxley, who attacked both Jericho and Omega. During this part, Moxley executed a standing fireman's carry takeover on Omega, driving him through the stage.
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Sources
- Summary by Intellect · source: Double or Nothing (2019)
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