In terms of the gambling action, Conor McGregor may have the people on his side, but befitting his nickname, Floyd Mayweather has the money on his. Days before their much-hyped showdown Saturday, huge bets are coming in on the veteran boxer.
According to ESPN’s David Purdum, two bets of at least $1 million were made at Las Vegas sports books, both on Mayweather. They were part of a surge in wagering on him that increased his odds, as he comes out of retirement to take on the UFC champion and try to raise his record to 50-0.
One bet was for $1.2 million, making it the largest reported wager on the fight. Purdum reported that the bet was made in cash at William Hill’s sports book, at -500 odds and with a net payout of $240,000 if Mayweather wins. The other was for $1 million, at -550 odds at the MGM casino, with a potential profit of $182,000.
After drifting below -500, the odds on Mayweather have gone back up to -600 at several Las Vegas sports books, meaning that bettors would need to wager $600 to net a $100 profit. According to Purdum, bets of $300,000 also came in Thursday on Mayweather.
Over $400,000 bet on #Mayweather in the past half hour. +475/-575 now
— Chris Andrews (@andrewssports) August 24, 2017
How strong is the Wiseguy opinion on Mayweather? Strong enough for me to make a bank withdrawal :) pic.twitter.com/6x6xC1Iv2f
— RJ Bell (@RJinVegas) August 25, 2017
Individual bets in Las Vegas have overwhelmingly been on McGregor, but at an average of $212, compared to an average of $8,036 for Mayweather. The sheer volume of wagering on the Irishman means that sports books will take a beating if he springs the upset.
“All I know is we’re less than a week away from making a lot of money or getting [clobbered],” a William Hill executive told ESPN last week. “I never dreamed in a million years that would create this kind of frenzy.”
The total betting on Mayweather-McGregor is now expected to be the most ever on a boxing match, topping Mayweather’s 2015 fight against Manny Pacquiao. With Mayweather considered the greatest boxer of his generation, and arguably the finest defensive tactician ever, while McGregor has never competed in a sanctioned boxing event, the odds on the former began at over -2000, but they have plummeted under an unexpected wave of pro-McGregor action.
“Ultimately, we want to be in a position where we win a significant amount on Mayweather, but we don’t want to be destroyed if McGregor wins,” a manager and oddsmaker at the Las Vegas Westgate Superbook told ESPN. “We don’t want this fight to cost us our whole year.”
It’s unclear if Mayweather has placed a bet on himself, as he said he would, or will before the fight. Given his projected payout of more than $100 million for taking on McGregor, not to mention the many millions he’s already earned, he would be more than capable of adding to the seven-figure wagers placed on his side.