The highly anticipated fight featuring Floyd Mayweather Jr. and Manny Pacquiao is just nine days away. The two will meet on May 2 in Las Vegas at the MGM Grand for what many are calling the fight of the century.
Odds makers are preparing to set boxing betting history on this fight as between $60 million and $80 million is expected to be wagered just in the state of Nevada. Add to that all the offshore sites that will be taking bets and the total handle could be well over $100 million.
In Vegas the bout will be the biggest non-football betting event ever seen says a number of bookmakers on the strip.
Even though the fight is still nine days away, some accounts show that it already has drawn more action than any previous match has in the history of Las Vegas.
In order to put the huge $80 million possible handle into perspective, this past February’s Super Bowl had a handle of $115 million and the 2014 Super Bowl set the record with a handle of $119 million.
However, the handle for the Super Bowl is a bit skewed since all the futures money that is bet on the game throughout the entire season is included.
MGM Resorts, which is hosting the fight in its Garden Arena at the MGM Grand, operates 10 sports books on the strip in Vegas and as much as 50% of the entire volume for Vegas is expected to be placed with them.
While the exact figures will never be known since the gaming commission in Nevada does not release that date for boxing matches, it is safe to say Vegas sportsbooks are expecting to have a huge handle on Saturday May 2, which is coincidently the same day of the running of the Kentucky Derby.
Even though the event still has not reached the point of being the biggest ever betting handle that is non-football, it certainly will reach that point before the opening bell on May 2. Bookmakers have said they are expecting a dozen or so of six figure bets and likely a couple of bets that are in the seven figures for this fight. Sportsbooks are also expecting to take a large number of bets between $10,000 and $50,000 on the bout.
Last week one of the books took the largest bet to date on the fight for Pacquiao and moved Mayweather’s favorite odds to -170.
Mayweather’s odds dropped this week, which brought about heavy action on him. Most of the early money was on Pacquiao but the past week the vast majority has been all on Mayweather.