$1 Million Bets Made on Floyd Mayweather to Beat McGregor

mayweather-mcgregor-fightHow good are Floyd Mayweather’s chances of beating Conor McGregor in tonight’s fight? Good enough that multiple $1 million bets are now rolling in on Mayweather leading up to the mega match.

According to ESPN’s Dave Purdum, Vegas sportsbooks reported “multiple $1 million bets” this week.

The MGM took a $1 million wager on “Money” Mayweather at -550 odds from a VIP bettor. Jay Rood, MGM vice president of race and sports, said that the money was wired to the casino cage. The wager would earn the anonymous VIP bettor a $182,000 profit if they’re successful.

William Hill’s Nevada sportsbook also reported receiving a $1.2 million bet on Mayweather at -500 odds. This customer paid cash and stands to win $240,000 in profits.

Million Dollar Bets are Pushing Mayweather’s Odds Back Up

mgm-sportsbookA flurry of betting activity on Conor McGregor briefly pulled Mayweather’s odds under -500 across the sports betting world.

We here at GTBets experienced the same thing because our early week odds were -455 on Mayweather and +335 on McGregor. Here’s how the odds sit going into the fight:

McGregor, Conor +400
Mayweather, Floyd -550

As you can see, we’ve added almost -100 to Money’s odds in the last few days. And some Vegas sportsbooks have put him at -600 lately.

Other Big Bets Reported on Mayweather

mayweather-mcgregor-million-dollar-bets“The price is skyrocketing right now,” Rood told ESPN regarding the dramatic line shifts with Mayweather.

The two $1 million bets are the largest known wagers on the fight to this point. They highlight a sudden surge in betting activity surrounding Mayweather. Aside from the $1 million bets that William Hill and MGM took, they each accepted $300,000 wagers on Money.

The South Point sportsbook reported taking two bets worth “approximately” $200,000 on Mayweather within just 15 minutes of each other.

These came just after somebody wagered $50,000 on McGregor at +450 odds. This would earn the winner a $225,000 profit if McGregor can win.

McGregor still Leading the Action

mcgregor-sparringIt would seem that Mayweather is drawing the majority of the betting action when looking at recent wagers. But sportsbooks are still a long way from closing the gap between McGregor and Mayweather.

William Hill reports that even after the $1.2 million wager on Mayweather, they’d face a “seven-figured liability” if McGregor wins.

Westgate SuperBook told Purdum a different story, though. They said for every bet they received on Money, there were 12 placed on “The Notorious.” However, 76 percent of the money was on Mayweather winning. Going further, the average bet placed on McGregor is worth $212, while the average on Mayweather is $8,036.

Recording Breaking Betting Action

Everybody expected the Mayweather-McGregor fight to be big in terms of betting. But few expected the action to be this extreme.

The numbers have yet to come in from every sportsbook. But it’s estimated that Mayweather-McGregor will easily trump Money’s fight with Manny Pacquiao in May 2015. This match drew a record $60 million in betting action at land-based sportsbooks.

Why All of the Sudden Big Bets on Mayweather?

SPO-BOX-FLOYD-MAYWEATFloyd Mayweather opened this fight as a massive betting favorite. His GTBetst odds were as high as -800 at one point.

But McGregor’s bold predictions and press conference antics have won him plenty of fans since then. And this helped sway some of the betting action his way.

Mayweather’s odds have been dropping steadily ever since. And the $1 million bettors, as well as the $300k bettors, were likely waiting for the lowest possible price.

That came this week, as Money dropped as low as -400 at some sportsbooks. Bettors who waited until this weekend now stand to win twice what they would’ve by betting on Mayweather right away.

Few are expecting anything different than a Mayweather victory tonight. He’s a perfect 49-0 in the boxing ring and has beaten some of the sport’s greatest.

McGregor, on the other hand, has never fought an amateur or professional boxing match. The UFC lightweight and featherweight champion is looking to pull off the biggest upset in boxing history.

McGregor’s long-shot odds are yet another reason why people are willing to bet so big on Mayweather.

Leave a Reply