Historical Context
Back in the early 1990's, wrestling companies were looking for ways to make their Pay-Per-Views stand out. For the World Wrestling Federation, there were unique events like Survivor Series and Royal Rumble. (At one point, class, all of the SS matches were elimination tags, and the Royal Rumble was always. . . ALWAYS. . . the last match of the night).
WCW had begun to head down a similar road. (The very first “War Games”, basically a Survivor Series match held in a steel cage, also took place in 1993.) In November of that month, they designed an entire PPV around another concept they had done twice before, this one called Battlebowl. As WWE Network explains, "Stars are forced to randomly team up through a Lethal Lottery. Winning teams advance to the enormous Battlebowl Battle Royal main event."
The winner of Battlebowl was awarded with a ring (In WCW at the time, there was a push for more legitimacy, hence the use of rings after winning a “Bowl”) and all but guaranteeing themselves a title shot at a future date. For those with a more modern view, consider this a grandfather to Money in the Bank.
It should be noted that this was the only time Battlebowl was a separate Pay-Per-View. The reason why is our first lesson.
Lesson #1: Too much of anything is no good.
