VGT Legalisation an Obstacle for Pennsylvanian Lawmakers [...]
Las Vegas Books Bracing for Exciting 2 May Weekend
- March 31, 2015 By Nemanja L. -
Nevada sportsbooks expect to see huge revenues on the weekend starting on 2nd May as a number of high-profile sporting events take place in the first weekend of May.
This is the date for one of the most highly-anticipated boxing matches in history as Floyd Mayweather takes on Manny Pacquiao at the MGM Grand, with the bookies expecting some $50-$60 million to be placed in wagers on this fight alone, meaning the boxing match could attract more bets than the XLIX Super Bowl.
“The $300 Million Fight”
The earnings from the ticket sales have already surpassed $70 million as the cheapest of 15,000 tickets are priced at whopping $1,500. The live gate earnings will beat the Super Bowl earnings by some $10 million.
The event has been regarded as the ‘$300 million fight’ due to the fact that TV revenue and entertainment records are set to be broken. Floyd Mayweather is currently rated 1/2 favourite with the bookies, with Pacquiao has recently been backed from 4/1 into 2/1 as plenty of boxing enthusiasts believe he stands a decent chance of pulling off a surprise.
Even if there is still over a month before the much publicised event, hefty bets are already pouring in, with rapper 50 Cent reportedly placing a $1.6 million wager on Mayweather.
Kentucky Derby Also Takes Place on 2 May
There will be more good news for Las Vegas Sportsbooks as the boxing match coincides with the date of the Kentucky Derby, the largest horse racing competition in the United States. On top of that, with NBA and NHL matches taking place on 2nd May, this could turn out to be one of the best weekends for Nevada books in recent history.
Sports betting operators in Nevada are already readying props markets for said events, while they will also be forced to employ additional staff to cope with an increased number of customers at the start of May.
The Las Vegas books chiefs are comparing the upcoming weekend with Super Bowl Sunday, expecting the volume of bets over said period to be huge.
If you want to keep up with this exciting story and stay tuned to the latest developments from the sports betting industry, make sure to visit our sports news section on regular basis.