In wrestling the words 'real' and 'fake' are hard to quantify.
No professional wrestling is 'fake', if someone hits you they actually hit you, if someone picks you up and throws you to the mat you do hit the canvas, and often quite hard!
In pro wrestling its all about control, trusting your opponent and training HARD. When you throw a punch there are various techniques to make it seem more effective but in all you 'pull' the punch ie: as soon as you feel contact you let your arm go a little limp, absorbing most of the impact. When you get slammed to the mat or 'get bumped' (knocked down) you perform a break fall, where you land spreading your weight across the parts of the body that can take impact and minimising the impact on the sensitive areas (lower spine on your back, face & balls on the front). Don't get me wrong though, it still hurts! And it takes a long time to learn how to get it right every time.
Yes, wrestling rings are sprung, but that spring/flexbeam only has between 1/2 & 1 inch flex in it and the ring usually has judo/martial arts padding (absorbs impact but is hard rather than soft) under the canvas, some just have a couple of layers of carpet underlay! The sound the ring makes on impact (wooden boards hitting metal beams) also adds to the impact effect.
And that's just the impact moves; most hold and submission moves are developed from various martial arts & classic wrestling moves, so they can all do legitimate damage if performed in a 'full on' way. However in professional wrestling the aim is to put on a good show rather than genuinely hurt your opponent, so at most your opponent should feel some minor discomfort.
This is where the only real 'acting' comes in. The art of 'selling' is where wrestlers act like a move hurt a lot more than it did. Holding their back, calling out in pain, 'nursing' an area that their opponent has been working on, ect are all parts of making it seem more genuine.
Matches are roughly scripted beforehand, with the booker telling the wrestlers what he wants from the match, whether that be a scripted list of spots detailing the whole match or simply, 'I want you to win, make each other look good'. The wrestlers then make up the rest between them and it is often made up in the ring with wrestlers 'calling' moves to each other as they go.
I hope this thoroughly answers your question, I have gone on a bit!