Floyd Mayweather Finally Starting to Get Some Love from the Bettors as Fight with Conor McGregor Approaches
Posted on: August 8, 2017, 01:00h.
Last updated on: August 8, 2017, 02:39h.
Conor McGregor is already dominating Floyd Mayweather, but not where it matters most. Approximately 90 percent of the action in Las Vegas sportsbooks has been wagered on the UFC fighter to win the August 26 fight.
But as the line shifts, bettors are starting to jump on the undefeated boxing champion.
CG Technology, operator of numerous sportsbooks in Las Vegas, took in its largest wager on Mayweather this past weekend.
The exact amount wasn’t disclosed but the sportsbook said it was six figures. Westgate’s sportsbook has taken a pair of six-figure wagers on the boxing champion.
Mayweather remains a heavy favorite to defeat the MMA fighter in a boxing match, a sport he’s dominated for the past 20 years. But the betting line doesn’t indicate he’s nearly as heavily favored as he was when the fight was announced in June or when online sportsbooks began accepting wagers in November 2016.
Mayweather, boasting a 49-0 lifetime boxing record, opened at -2250 last year at online sportsbooks. The line has declined each month and, most recently, was at -550 at most Las Vegas casinos. McGregor is a +375 underdog.
Why the Line is Shifting
Sportsbooks attempt to get equal action on both sides. Doing so ensures a profit. To get even action, sportsbooks adjust the betting lines based on which side the money is coming in on.
In this case, nearly 90 percent of the action has been wagered on McGregor. To counter that unbalanced betting, the line has shifted to attract more money on Mayweather’s side. And it’s worked as evidenced by the large wagers Las Vegas sportsbooks have recently taken in on the undefeated boxer.
Many heavy bettors have taken a wait and see approach to this fight. With the odds on Mayweather being so unfavorable to gamblers, many have waited to see if the line shifts in a more favorable direction.
Experts Still Favor Mayweather
Most bettors who have wagered on McGregor don’t actually expect him to win. The reason they’re betting on him is because there is so much value. When the sportsbooks began taking action at McGregor +950, a $100 bet would pay out $950 if he wins.
Conversely, a $2250 winning wager on Mayweather would have paid only a $100 profit. Now that the line is down to -550, a $550 winning bet would net a $100 profit. Still unfavorable, but better than what is was a few months ago.
Most boxing experts feel McGregor has very little chance, if any at all, to win this fight. Mayweather is one of the top boxers of all-time and he’s facing a guy who doesn’t have any boxing-only experience. He’s a mixed martial artist.
But McGregor is confident. Unfortunately, few others are.
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