The most lucrative fight in boxing history might not be that lucrative for Vegas bookmakers.
With so much money riding on Floyd Mayweather and Manny Pacquiao’s superfight, Vegas stands to make a fortune. However, if the fight ends up as a draw, it could have disastrous effects on the bookies.
At least $50 million is expected to be wagered in Las Vegas on the bout so far and, according to Jay Rood, sports book director at MGM Resorts International, “the draw is deadly, worst-case scenario”.
A draw would result in a push, which would mean most of the money wagered on Mayweather and Pacquiao would be returned and they would have to pay out those who bet on a draw. If the match up ends in a tie, books will pay out odds as long as 18-1 and return the millions bet on each pugilist.
The biggest bet taken by William Hill on the bout was a six-figure wager on a draw, and Rood said his book would take a “significant seven-figure loss” if that result happened.
“If it draws, I’m going to get a call from somebody.”
Hat-tip to Bloomberg
