The inaugural Double or Nothing event took place on May 25, 2019 at the MGM Grand Garden Arena in Paradise, Nevada on the Las Vegas Strip. This 2019 event was also the very first pay-per-view (PPV) produced by All Elite Wrestling (AEW), which had just been founded in January that year. As such, Double or Nothing is considered AEW's marquee event. AEW President and CEO Tony Khan referred to Double or Nothing as being one of the promotion's "big four" PPVs, their four biggest shows of the year produced quarterly, along with All Out, Full Gear, and Revolution.