Intellectual property experts say Vardy could easily make hundreds of thousands of pounds by slapping the phrase on jewellery, clothes and beauty products.
Rebekah Vardy has trademarked the phrase "Wagatha Christie" - despite the fact she didn't come up with the pun.
The play on words emerged soon after Coleen Rooney released an Instagram post that accused Vardy of leaking stories to the press.
Mrs Rooney's online sleuthing - which involved posting false stories and limiting who could see them - drew comparisons to Agatha Christie, the famed crime novelist.
The social media drama subsequently sparked a high-profile libel trial - and Vardy was ordered to pay Rooney's legal costs after losing the case.
Intellectual property experts believe Vardy may now use the "Wagatha Christie" brand to cash in - and she could command a fee from anyone who uses the term.
Records from the Intellectual Property Office suggest the trademark could end up being used on clothes, beauty products, mugs, glasses, jewellery and even non-alcoholic beverages.
And given how Vardy was ordered to pay 90% of Rooney's legal costs - which were rumoured to reach £1.5m - this income could go a long way to softening the blow.
Tim Carter, managing associate in Addleshaw Goddard's Intellectual Property team, said Vardy will now be able to stop third parties from using "Wagatha Christie" - and could obtain damages from those who infringe the trademark.
He told Sky News: "I think it would be fair to say that Rebekah Vardy could make a substantial amount of money from this trademark.
"The potential for the commercial exploitation of the trade mark is likely substantial considering the continued interest in this case.
"The potential income from licensing the use of the trade mark could easily run into the hundreds of thousands of pounds."
The trademark is already creating headaches for producers of the West End play Vardy V Rooney: The Wagatha Christie Trial.
It's a "verbatim production" that uses High Court transcripts to dramatise the legal battle between the two footballers' wives.
In a statement, the producers said: "This story continues to have more twists and turns than an Agatha Christie thriller and this morning's news that Rebekah Vardy has trademarked the term 'Wag*tha Chr*stie' is the latest plot development.
"Performances of Vardy V Rooney: The Wag*tha Chr*stie Trial continue as planned in the West End and on tour and we would be delighted for Mrs Vardy to come and see the show."
Comedian Dan Atkinson may have been the first to coin the phrase back in October 2019, and his play on words garnered thousands of retweets.
After learning about Vardy's trademark, he tweeted: "Well this isn't ideal, is it?"