Las Vegas sports books have seen a flood of small bets on Conor McGregor for his Aug. 26 boxing match against Floyd Mayweather since the fight was made official last week, according to multiple reports.
Upon the announcement that the fight was on, McGregor was posted as a 7-to-1 underdog at two prominent Vegas bet shops — the Westgate SuperBook and William Hill — a price too tempting for public bettors to pass up. Mayweather was listed at -1100, odds most bettors don’t have the stomach to lay (winning $100 requires an $1100 wager).
So, as is typical for prize fights, public bettors flocked to risk small amounts of money for the chance at a big payoff. Jason Simbal, vice president of risk at CG Technology, told Covers.com that action on McGregor increased when the fight was made official, but those bets were of the $10, $20 and $50 variety.
When the accumulation of those bets prompted CG to adjust Mayweather’s odds from -1000 to -900, big bets started coming in on the favorite, including one for $45,000. Mayweather’s odds were then pushed back up to -950.
The MGM Mirage saw a similar wagering pattern.
“When we first put it up, we wrote 68 tickets on McGregor before first Mayweather bet,” oddsmaker Jeff Stoneback said, per Covers. “But first bet on Mayweather: $90K to win $10K. These are all small bets on McGregor.”
Some media reported, Mayweather’s odds had been shortened to -600 at some sports books. That price is certainly cheap enough for sharp bettors to pounce.
After all, Mayweather lays odds of this size for fun. In his most recent fight, he was -3000 against Andre Berto ( via Odds Shark). He was -900 in his first fight against Marcos Maidana and -600 in the rematch. He was -700 against Miguel Cotto in 2012. These are all experienced boxers, while McGregor, a UFC star, will be competing in the first boxing match of his career.
So while risking a lot of money to win a little may not seem like an appealing proposition, in the case of Mayweather vs. McGregor, it appears to be worth it — if you have the stomach.
