Draw In Canelo-GGG Boxing Match Forces Sports Betting RefundsControversial Decision Leaves Bettors, Books A Bit Displeased |
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A controversial draw in Saturday’s highly anticipated match between boxing stars Canelo Alvarez and Gennady “GGG” Golovkin wasn’t a good outcome for Las Vegas sports books.
According to a report from ESPN, sports books around Sin City are paying out refunds on the match that drew an estimated $20 million to $30 million in wagers. It’s not clear how much of that will be refunded, as there were many other ways to bet on the outcome of the fight.
The Las Vegas Review-Journal reported that some gamblers were able to get odds as good as 30-1 betting on the draw. Most books reportedly are facing a loss on the fight.
They were hoping for a Triple G victory by decision, according to the ESPN report. The sports world widely thought the 35-year-old from Kazakhstan out boxed the 27-year-old Mexican over the course of 12 rounds. So it was especially puzzling when one judge whose reputation has been destroyed scored it 118-110 for Canelo.
“The boxing commission has to take control or people aren’t going to want to bet it anymore," Wynn Las Vegas told the Review-Journal. "You can’t have guys winning the fight and not getting the decision because of some judge’s opinion.”
Still, the fight was surely a success overall for Las Vegas, which hosted the mega-event at the T-Mobile Arena. More visitors means more gaming and spending. The fight came on the heels of the Mayweather vs. McGregor fight, which could have generated as much as $90 million in direct gambling volume. It’s been a great year for boxing.
We won’t know for several more weeks what the winnings or losses were for the books.
How long will gamblers have to get refunds on the Canelo-GGG bets? According to a report from fox5vegas.com, at least one book will be refunding wagers to at least the end of the year.
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