Manny Pacquiao versus Floyd Mayweather could draw a betting handle that rivals the Super Bowl pointspread, according to the Vice President of Race and Sports for MGM Properties in Las Vegas, which will host the long-awaited superfight at the MGM Grand on May 2.
“I would anticipate some sizable wagers on this one. Some million dollar wagers – hopefully coming to us. That’s what I envision” Jay Rood, who opened Mayweather -240/Pacquiao +200, tells Covers. “Fight night limits are negotiable for our established players. We’ll see where we sit in the fight and if we need to position ourselves to fade some liability.”
Rood, as a ticket writer for MGM back in 1995, personally counted out a $3 million bet on Mike Tyson versus Peter McNeeley (“It took a while”). He believes the handle for Mayweather vs. Pacquiao will eclipse what those Tyson fights brought into the book and will be the biggest boxing betting draw in the history of the sport – and could be for a very long time – even though it’s happening nearly five years too late.
This bout has been brewing since November 2009, and the odds have reflected that span every time the fight was rumored to be in the works. The original opening odds were much closer than what’s being dealt following the official announcement Friday night. Renowned boxing oddsmaker Joey Oddessa of oddessa.com originally put out Mayweather as a -145 favorite – more than half his asking price in 2015, with Pacquiao coming back at +115.
Since that time, Pacquiao has dropped two matches – Timothy Bradley (split decision) and Juan Manuel Márquez (KO) – but rebounded from those losses with three straight wins (including the rematch with Bradley). Mayweather, on the other hand, has maintained his unblemished resume and climbed to 47-0 with recent victories over Marcos Maidana (twice), Saúl Álvarez, and Robert Guerrero.
Oddessa agrees that a lot of water has passed under the bridge since fight fans first clamored for “Pac Man versus Pretty Boy (now ‘Money’)”, but there’s no taking away what this bout means to the sport of boxing overall and the impact it will have on the betting landscape.
“I don't think the time has made a bit of difference,” Oddessa tells Covers. “They're making more money than they would have five years ago, so if anything - from a business stand point - it's right on time. People say you're only as good as your last win and both are coming in winners. Unlike the widely-anticipated Judah vs. Mayweather superfight, this one has not lost a bit of its glamor. To complain now is just to complain for the sake of hearing oneself speak.”
That said, Oddessa isn’t too sure this is a classic battle in the making. He’s long been an advocate for Mayweather in this bout – even back in 2009 – and says his money will be riding on Mayweather’s perfect record to rise to 48-0 following this matchup.
However, he and other Mayweather backers may be waiting these early odds out with an expectant move toward Pacquiao before the bell rings May 2. The betting public isn’t too high on laying a price tag as high as -300 and most common boxing fans have a disdain for Mayweather, and love to bet against him. On top of that, Pacquiao fights draw large crowds of Filipino fight fans to Las Vegas, who blindly bet their national hero – even more so as a plus-money underdog.
“If the UK and European sportsbooks drove the price on Ricky Hatton down years ago (Mayweather vs. Hatton in 2012), you can bet the rest of the world will be coming in on Manny double fisted. Some because they believe he can win and some simply to cut off their noses to spite their face. Floyd's nickname is ‘Money’ for a reason. Expect him to exit the arena with another victory and as the highest-paid athlete without a sponsor in our lifetime. I'm on Floyd.”
At the MGM Mirage, the very first bet was a small wager on Pacquiao. Online, sportsbook TopBet.eu reported that 42 of the first 50 wagers on this bout were on Mayweather at -300, with Pacquiao coming back as a +240 underdog.
MGM Properties, especially the host MGM Grand, are bracing for a huge weekend in sports betting with the Kentucky Derby also running on May 2. Rood says MGM draws significantly more handle on boxing events they host in Las Vegas compared to rival properties around town.
“Bring it on,” he says. “We had a rough Super Bowl. This is just what we need. We’ll be swamped and it’ll be a massive weekend, especially if something shakes loose in this Derby trail and we get a couple dominant horses in the field.”
Books are also currently dealing numerous props on Mayweather vs. Pacquiao, with the Over/Under round prop set at 11.5 (Over -300/Under +210), as well as Mayweather via KO (+160) and Pacquiao via KO (+300).