Matches can be won by pinning the opponent to the mat for the count of three, making him submit, knocking him out of the ring for a predetermined count (generally twenty), or by disqualification. The rules of lucha libre are similar to American singles matches. On July 21, 2018, Mexican lucha libre was declared an intangible cultural heritage of Mexico City. Lucha libre also appears in other pop culture such as mainstream advertising: In Canada, Telus's Koodo Mobile Post Paid cell service uses a cartoon lucha libre wrestler as its spokesperson/mascot. Lucha libre has become a loanword in English, as evidenced by works such as Los Luchadores, ¡Mucha Lucha!, Lucha Mexico, and Nacho Libre. One such line integrated to the United States professional wrestling scene is Los Guerreros (which their family name coincidentally being the Spanish word for “warrior”). They usually come from extended wrestling families who form their own stables. Lucha libre wrestlers are known as luchadores (singular luchador, meaning 'wrestler').

In the English language, the term refers exclusively to Mexican-style professional wrestling (staged performances with predetermined outcomes), while in Spanish it can refer to freestyle wrestling ( es:lucha libre olímpica), professional wrestling ( es:lucha libre profesional), and specifically Mexican professional wrestling ( es:lucha libre mexicana). Tag team wrestling is especially prevalent in lucha libre, particularly matches with three-member teams, called trios. The wearing of masks has developed special significance, and matches are sometimes contested in which the loser must permanently remove his mask, which is a wager with a high degree of weight attached. Since its introduction to Mexico in the early 20th century, it has developed into a unique form of the genre, characterized by colorful masks, rapid sequences of holds and maneuvers, and 'high-flying' maneuvers, some of which have been adopted in the United States, Japan, and elsewhere. Lucha libre ( Spanish pronunciation:, meaning 'freestyle wrestling' or literally translated as 'free fight') is the term for the style of professional wrestling originating in Mexico.

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