Seven-figure bets expected for fight

Written by  on March 24, 2015 

Mayweather’s fight against Marcos Maidana generated mid-six figures in handle last May at sportsbook operator CG Technology.

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“Both fighters have attracted quite of bit of money through their careers; Pacquiao even more so,” Avello said. There’s no question about that.”

“I’d guess this one will do four or five times more than the Maidana fight,” CG Technology vice president of race and sports Jason Simbal said.

That will change.

The early action has been light, touristy and almost all on the underdog, the books said. Statewide handle estimates ranged from $30 million to much higher. “At one time, his following, the Filipino community was coming in and betting his fights for a lot of money.

“We get a lot of guys who come in and lay $30,000 on Mayweather to win four or five [thousand],” Simbal said. A $1,000 bet on Pacquiao was the biggest William Hill had taken as of Friday. “And they do it every time he fights. I think there will certainly be underdog money here. The price [on Mayweather] is going to be so small, I would imagine a lot of big bets coming in on him.”

“All small bets,” John Avello, sportsbook director at Wynn, said before Friday’s announcement.

Avello, a 20-plus-year veteran, believes this will be the biggest fight of his bookmaking career.

The long-awaited fight between welterweight champions Floyd Mayweather and Manny Pacquiao has finally been announced for May 2, but Las Vegas sportsbooks have had odds posted on the fight for several weeks.

“This is the kind of fight that we’ll take a lot of big bets, seven figures,” Jay Rood, MGM vice president of race of sports, said.

Simbal expects the bigger bets will be on Mayweather at his shop.

On Friday morning, Mayweather was as high as a minus-275 favorite at the Westgate SuperBook and as low as minus-240 at William Hill. The majority of bets, though, were much smaller, and came mostly from recreational bettors who were in town for other events like the Super Bowl.. Ninety-four percent of the money that had been bet at William Hill was on Pacquiao. The SuperBook had Pacquiao at plus-235, with the Wynn offering plus-220 on the underdog.

The big bets will fuel what Las Vegas bookmakers expect to be a massive handle

Max Lyons

Max Lyons

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Max Lyons

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