If it’s competitive, women’s oil wrestling is just another version of competitive mat wrestling. It goes down according to pin/submission rules, with the difference that the slipperiness of the oil makes it easier for both wrestlerettes to slip out of holds.

It is more difficult to win an oil wrestling match either by pin or by submission as the lack of friction means an easy way out of otherwise inescapable holds.
The ladies who participate in oil wrestling usually dress in bikinis as any sort of fabric impregnated with oil would be unpleasant and cumbersome.

Ladies’ oil wrestling matches are usually organized in big inflatable pools, which give the wrestlerettes the possibility to throw each other around in a pretty spectacular fashion.
Oil wrestling matches are often semi competitive or only set up for the sake of the show as are professional wrestling bouts.

In some oil wrestling matches the combatants are completely naked or topless. The glistening bodies of the wrestlerettes do sometimes induce an element of fetish into the whole setup, especially when the whole thing is intended to go down like an erotic show rather than a competitive one.