California Plans to Legalize Sports Betting [...]
Mayweather vs Pacquiao Fight Attracts Huge Volume of Bets
- April 27, 2015 By Nemanja L. -
Las Vegas Sportsbooks have been pleasantly surprised by the volume of wagers on the Mayweather vs Pacquiao boxing match that has already been dubbed ‘The Fight of the Century’.
The bookmakers have been receiving bets on both fighters from the very moment the fight was announced and with another week to go before the highly-anticipated event, they expect to earn substantial profit regardless of the outcome.
Fight of the Century Lives up to Its Name
Even the oldest bookies in Las Vegas admit they have never seen so much action on a boxing match and they expect the numbers to get really close to the action on this year’s Super Bowl.
Floyd Mayweather was made an early favourite to win the match that will be held at the MGM Grand on 2nd May, and he is currently priced at -200, which means a $200 bet on the fighter to win earns a $100 profit.
Meanwhile, Pacquiao is available at +170, meaning you would get $170 on a $100 bet for the Filipino to defy the odds and win the match.
More Wagers Placed on Pacquiao
The interesting thing is that Manny is getting a much higher volume of wagers, although bets placed on Mayweather are significantly bigger. The Las Vegas books are delighted to see so many bets placed on both sides of the bet, seeing as that allows them to manipulate the odds and ensure they have a win-win situation in the final count.
While official numbers have not been disclosed, it is believed around $70 million has already been placed on the big match, compared to some $115 million wagered on the Super Bowl earlier this year.
At the moment, Las Vegas bookmakers are seeing around six Pacquiao bets for every Mayweather wager, but they also expect the biggest bets placed on the favourite yet to arrive.
Most oddsmakers currently stand to lose some money in case the underdog wins, but with plenty of action still to come, they will have more than enough opportunities to lower the risk and and move the betting line as they wish to.
Due to Pacquiao being very popular among his compatriots as well as the neutrals, the betting line should never come close to realistic value as the books believe Mayweather should be -300 favourite.