Bettors flocking to lay money on draw for Mayweather-Alvarez
LAS VEGAS — Conspiracy theorists are flocking to the Las Vegas sports books to bet that Floyd Mayweather Jr. and Saul “Canelo” Alvarez will fight to a draw Saturday night.
MGM Resorts race and sports book director Jay Rood said Saturday that after opening as a 30-to-1 proposition bet, the draw has shrunk dramatically to an 8-to-1 bet.
Rood said that number is a “ridiculously bad” bet on such a long-shot occurrence.
The bettors are trying to outthink the strange turns a major boxing match can take.
If the judges give Mayweather and Alvarez a draw, the thinking goes that the massive riches generated by the fight can be duplicated or exceeded in an anticipated Cinco de Mayo weekend rematch in 2014.
A record $20.03 million was spent on tickets for the bout, and it could eclipse the record $137 million spent on the 2007 pay-per-view victory by Mayweather over Oscar De La Hoya.
With a draw, the fighters win, television network Showtime wins, Las Vegas wins.
So the bettors want to win.
The problem for Rood at the sports book is that he took several bets on the draw with odds set at 20-to-1, so even if the number has shrunk due to the continued onslaught, “If it’s a draw, it’s a real bad night for us.”
Yet, Rood has not been alarmed enough by the pattern or size of the betting to take the wager off the board, as has been done in the past with college football and basketball games.
“It’s boxing, it’s always shady,” Rood said. “But, no, I don’t think there’s anything sinister happening.”
Nevada State Athletic Commission Executive Director Keith Kizer said he wasn’t concerned about the betting pattern or what others are speculating.
“There are always weird rumors,” Kizer said. “Just part of the buzz.”
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