Under normal conditions, bookies take bets on sports events to cover their positions. There is a fee charged towards any payouts that makes sure the bookies always make money, no matter who is the winner or the loser. This strategy almost always works to make Sports Books profitable, as long as they have the ability to offset major losses that could happen and spread that risk to others.
The problem with the Mayweather/McGregor boxing match coming up on Sunday, Aug. 27, 2017, in Las Vegas, with live feeds going around the world is that the odds and the betting are significantly lopsided favoring Mayweather by a huge margin over McGregor.
Yahoo Sports reports that gamblers have been placing bets so strongly on the favorite to win, which is Mayweather, that some have placed bets of $70,000 only to win $3,000 if Mayweather defeats McGregor.
Mayweather came out of temporary retirement that he announced in 2015, to fight in this bout. Mayweather’s fighting record is a perfect 49-0, making him one of the greatest boxers of all time. McGregor is a UFC mega champion; however, he has never boxed professionally. Clearly, this is a publicity stunt that will make so many millions change hands. If the Vegas bookies got this wrong they can lose a fortune.
Mayweather recently got really upset with his good luck charm Justin Bieber, who dissed him on social media and will not appear to escort Mayweather to the fighting ring as Bieber has done so many times before. Bieber is quoted as saying “Mayweather will not knock out McGregor.” Ouch, that hurts especially when all the fans think the otherwise.
The real risk to the Las Vegas bookies is that McGregor achieves a surprising upset and knocks out Mayweather in the first four rounds. No one thinks that this is possible. If that happens, there will be hundred of millions to pay out for those bets that the bookies calmly took thinking such an occurrence was impossible.
The current betting is 60% to 40% that Mayweather is the champion at the end of this event.
The current odds as of Aug. 25, 2017, are:
Mayweather win - 2/9
McGregor win - 10/3
Draw - 33/1
Get ready to rumble because the Mayweather fight against McGregor happens on Sunday night, Aug. 26, 2017, and will be broadcast live for those who pay the fee to watch the streaming of the event online.
Certainly, now is the time to place your bets.
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