After the fight between Manny Pacquiao and Floyd Mayweather was announced in February, the odds were as high as minus-275 in favor of Mayweather. But with many of those bets going in favor of the underdog, Pacquiao, Sportsbooks have dropped the odds to minus-180.
One of these instances came from a customer at the MGM Mirage, as he placed two $50,000 bets on the Filipino to win the highly-anticipated May 2 fight in Las Vegas’ MGM Grand.
Although the undefeated Mayweather is the favorite, he isn’t getting most of the bets. According to the MGM assistant sportsbook manager Jeff Stoneback, his shop has received three times more money in favor of Pacquiao than Mayweather. In fact, overall bets are 6-1 in favor of Pacquiao, according to Sportsbook operator CG Technology.
Although the amount wagered on the fight won’t reach this year’s Super Bowl numbers ($115 million), John Avello of the Wynn sportsbook expects it to be the biggest wagering it has booked for boxing.
"Hearns-Leonard, Tyson-Holyfield, those were big betting fights," Avello said. "It's different now. The whole biz feels different as far as boxing is concerned. But the action on (Mayweather-Pacquiao) is steady, big steady action. This is going to live up to the hype."
Photo Credit: Robert Hanashiro, USA Today Sports