It wasn’t just Floyd Mayweather and his fans celebrating after last week’s boxing match, Las Vegas’ sportsbooks were also cheering and breathing a huge sigh of relief.
A huge number of people backed the underdog Conor McGregor and while more money was bet on Mayweather, more bets were placed on McGregor driving the odds down throughout the summer. Had McGregor won then Las Vegas’ sportsbooks would have lost at least $50 million if not considerably more.
According to some reports the average bet on McGregor was $200 but the average bet on Mayweather was a much larger $8,832. If McGregor had won then they sportsbooks would have been paying out around $1,000 on a $200 bet, potentially costing them a fortune. However, the average winning Mayweather bet paid $1,261.71, proportionally far smaller returns from far larger bets.
During the fight’s early rounds there will have been some very nervous bookies. McGregor appeared to be winning the fight and those who had reportedly bet as much as $1 million on Mayweather will have been sweating.
Nonetheless, Mayweather remained methodical and tactful and took control of the match as the rounds went on. By the end of the ninth round it was clear that he was headed for victory and bookmakers will have breathed a collective sigh of relief. Then just one minute and five seconds into the tenth round Mayweather landed a huge right that almost knocked McGregor to the floor, he followed it up with a number of unanswered punches before the referee stepped in to stop the fight.
All in all, it was a fantastic night for Vegas, the bookmakers and the fans.