Former NBA Owners Bet $880K On Floyd Mayweather To Win $160KMaloofs Think Boxing Legend Will Make It To 50-0 |
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A nearly seven-figure bet on Floyd Mayweather in his upcoming boxing match with MMA’s Conor McGregor is presumed to be the largest to date on the fight.
According to a report from the Associated Press, Las Vegas businessmen Gavin and Joe Maloof, former owners of the Sacramento Kings, placed a $880,000 wager on the fight at the South Point Hotel and Casino’s sportsbook on Aug 11. They took Mayweather at a minus-550 favorite, meaning they’ll net $160,000 should he reach 50-0. The total payout will be more than $1 million.
In Las Vegas, Mayweather was previously listed as a massive minus-1000 favorite.
The Maloofs’ large wager is going against recent betting trends.
It was estimated that in recent weeks McGregor, a two-division champion in the Ultimate Fighting Championship, has garnered 85 percent of wagering volume with a line of +400.
There’s no word on how much in total has been wagered on the fight. But if the 2015 Mayweather vs. Manny Pacquiao fight is any indicator, it will be a good month for the sports books. An estimated $70 million was bet on the 2015 mega-fight. Nevada sports books retained about 10 percent of those wagers. Mayweather closed as a minus-200 favorite in that one.
The Maloofs obviously have the money to spend, as their family was behind the Palms Casino Resort, located just off the Las Vegas Strip. In recent years the family divested from the property, with Station Casinos purchasing it for more than $300 million last year.
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