Wrestling is categorized as professional wrestling and amateur wrestling. Professional wrestling is a choreographed event, where the outcomes of the most of the matches are predetermined. It is widely regarded as entertainment rather than sports; however it has tremendous marketable appeal, attracting a large following of fans and enthusiasts. There is no official authority on professional wrestling rules and regulations as yet; however there is a general standard that is conformed to.

Amateur wrestling is the most popular form of sport wrestling. FILA (International Federation of Associated Wrestling Styles) is the main governing body for amateur wrestling. There are two international wrestling styles - Greco-Roman and freestyle. These styles are executed in the amateur wrestling events and tournaments such as the Summer Olympics wrestling and the World Cup of Wrestling. The Commonwealth Games and Pan-American Games both include wrestling as a competitive sport. Besides these, there are the Continental Championship and many other international tournaments. These tournaments cater for different age groups and both genders. Awards given for wrestling at the amateur/non professional level are usually gold medals for the first place, silver for second and bronze for third.

Awards given for wrestling in the professional circle are more glamorous than those in amateur wrestling. The sports, or rather entertainment, itself is seen as more fascinating and draws an immense audience through its matches and shows. Thus legends and icons such as Hulk Hogan, The Rock and Cold Steve Austin, are created. The most prestigious award given for wrestling at the professional level is of course the title itself. The title World Heavyweight Championship is a much coveted award given for wrestling to professionals, and used extensively by the main professional wrestling organizations. It is one of the main factors contributing towards the success and revenue of the companies.

Among the most coveted awards given for wrestling are those conferred by the NWA World Heavyweight Championship (National Wrestling Alliance), TNA (Total Nonstop Action), WWE World Heavyweight Championship and WWE Championship (Smackdown). Other awards for wrestling in professional circles also include the IWA World Heavyweight championship by the International Wrestling Association, the PWG World championship, WWC Universal Heavyweight Championship, established by the World Wrestling Council. Besides the title, the winner is also presented with a belt. In the WWE Heavyweight Championship, the award includes a gold belt with the WWE logo at the top of the center plate. Other awards given for wrestling for professionals are conferred unofficially by fans, wrestlers, journalists as well as insiders of the business, and compiled by newsletters like the Wrestling Observer. The awards are for Most Outstanding Wrestler, Match of the Year, Tag Team of the Year, Feud of the Year, Best Wrestling Maneuver, and Best Technical Wrestler, among others. There are also the non awards (or rather vague awards) given to the Worst Wrestling Match, Worst Feud of the Year, Worst Worked Match of the Year and so on.

Women professional wrestling is slowly gaining popularity. The women’s division on WWE was promoted on its show, RAW, with an emphasis on women professional wrestling as a serious sport. TNA’s women division has started the Women’s Championship in 2007; its female stars, referred to as the Knockouts, have contributed to the ratings of its shows.