Floyd Mayweather vs. Conor McGregor will be one of the biggest boxing events in history.
Mayweather and McGregor are ready to collect millions of dollars. Most writers believe this fight is not simply a freakshow, but an absolute con. How could McGregor stand a chance? There’s a chance to some people- one or two writers, and a platoon of McGregor fans who believe his mixed martial arts magic can translate into the boxing ring.
But by and large, sports media favors Mayweather. After all, nobody actually knows if McGregor can box a boxer. Sure there’s sparring footage of McGregor kind of but not really holding his own against former IBO champ Chris van Heerden. Then there’s the “knockdown” against Paulie Malignaggi that Conor claimed was a knockdown that Paulie claimed was a slip (the footage makes it look like neither). Which probably helps explain why the two confronted each other recently, looking to potentially throw down in front of the media yesteryday. Meanwhile, we know exactly what Mayweather can do inside the ring. But the excitement is clearly in the mystery.
People will watch the fight anyway because, how could we not? Mayweather is the villain people love to hate. Or just hate. McGregor is the eccentric, mink coat wearing underdog. It’s good ‘ole fashioned Rocky vs. Apollo stuff.
There’s a lot of money on the table for the fighters. But what about the money on the table for you, the viewer?
The PPV itself is expected to cost $99.95 on Showtime and HBO. If you want to fly to the T-Mobile Arena in Paradise, Nevada, in-person tickets will run you almost $4,000 on average. That’s not counting all of the cocktails, New York style pizzas, and mojito carts available to you.
Then there’s the money made from sports betting.
Full disclosure: The Credit Repairmen, champions of being smart with money that they are, do not in any way condone or advocate sports betting. Sports betting does not reflect this company’s values. Plus, for reasons this author will outline, this is a uniquely dumb fight to bet on. Let’s explain…
Saturday, Aug 26, 2017
C McGregor +400
F Mayweather -550
tickets: 92% McGregor (13-1 ratio)
money: 81% Mayweather
— Jeff Sherman (@golfodds) August 22, 2017
In case you don’t know how these numbers work, the “+” signifies the bet and the “-” signifies the win. As in, betting $100 on McGregor will yield a win of $400. To win $100 on Mayweather, you would have to bet $550.
However, sports betting is more complicated than simply plus and minus. For example, 92 percent of the bets on the fight are on McGregor. However, the average bet on Mayweather, as the SB Nation article notes, is 50 times as big as the average bet on McGregor. Think about that from a business perspective. Westgate Las Vegas Superbook makes money from what’s called the handle. The handle is the total amount of money wagered. The bigger the handle, the better for business.
Action refers to betting activity. And this is what bookmakers in Vegas are dealing with – a lot of action, and no handle. Jay Rood of MGM Resorts is calling the fight the “worst loss in history” for sports betting. Some sportsbook operators don’t have the appetite for this kind of risk, which is why Vegas is on high alert. ESPN’s sports gambling writer, David Pudrum, went to Twitter to put this betting chaos into perspective:
As of today, there have been 277 bets on Floyd Mayweather @MGMRaceSports. There have been over 6,000 bets on Conor McGregor.
— David Payne Purdum (@DavidPurdum) August 21, 2017
If all the action is on McGregor, but people are betting small, that means a McGregor win is downright apocalyptic for business. Bookmaking, just like lending, is about balancing wins and losses. And this fight offers no balance for sports betting.
That’s not even taking account the world of sports betting itself. Just this past May, Ben Halls wrote about bookmakers waging war against persistent winners. And none other than the US Supreme Court is embroiled in a case involving New Jersey governor Chris Christie attempting to legalize sports betting.
There’s a lot on the line this Saturday, including a lot of money. Don’t let yours get lost in the pot.
For a Free Credit Evaluation to help you afford Conor McGregor’s profanity suit that might look cool for Halloween, Give Us a Call at 210-520-0444 or Text Us at 210-960-2498.