Now here is a damn sports bet:
The $880,000 bet was reportedly placed at the South Point Casino in Las Vegas Friday afternoon. ESPN says it had to be broken up into two separate wagers after the ticket for the full amount showed the wrong payout:
The original ticket showed only a $120,000 profit, instead of the correct $160,000 that would come from the wager. The misprint was caused by a rule in South Point’s bookmaking system that does not permit payouts of greater than $1 million, according to sportsbook director Chris Andrews. The total payout, should Mayweather prevail, would be $1.04 million.
The book rewrote two separate bets for $440,000 each to rectify the issue.
Mayweather’s odds to win the August 26 fight are sitting at -550, making him the overwhelming favorite, but it seems the vast majority of bets placed with Vegas sportsbooks are for McGregor. From the ESPN report:
Other books are hoping for some similar-sized bets on Mayweather to help them even out some of the massive liability that’s built up on McGregor. William Hill’s Nevada sportsbook, where 95 percent of the bets have been on the underdog, said its liability on McGregor is already well over $1 million.
For every one bet on Mayweather at MGM’s sportsbook, there have been 27 on McGregor, according to assistant manager Jeff Stoneback.
McGregor is currently +375 to win, and +1,200 to win by decision. Lot of hopeless long-shot betting going on out there. Our guy with the bonkers $880,000 wager is the conservative bettor.