Now We Know Who Bet $880K on Floyd Mayweather Jr.

Last week, a Las Vegas casino reported that it took a Floyd Mayweather Jr. bet that was so large that it caused problems for the sports book’s computer system. Now we know who made that bet. And we also know what the bettor plans to do with his winnings.

Largest Wager

According to an ESPN report, that large bet was an $880,000 ticket that is believed to be the largest wager so far for the Floyd Mayweather Jr. vs Conor McGregor boxing bout on August 26th. Mayweather was a -550 favorite when the money came in so if Floyd does beat Conor on the 26th, the bettor would gain a $160,000 profit.

Notice the ticket showing only a $120,000 profit, instead of $160,000. That’s because South Point’s bookmaking system doesn’t allow payouts of more than $1M. Because of this glitch, the bet was re-written to two separate $440,000 wagers to fix the issue. But while that issue has been rectified, many curious people wondered who would bet that amount of money on Mayweather? Well perhaps, that somebody must be rich, filthy rich even to wager that kind of money. Turns out our hunch was correct.

Floyd’s Neighbors

Photo: reviewjournal

Two days after the bet was revealed, the bettors revealed themselves. On Sunday, Las Vegas entrepreneurs and former Sacramento Kings owners Gavin and Joe Maloof announced that it was them who made the large $880K bet at the South Point Hotel and Casino in Las Vegas. No question on their capacity as the famous sports family earned a cool $534M when they sold the Sacramento Kings in 2013. That amount was a record during that time.

The Maloofs have deep ties in sports and in Las Vegas. Aside from once owning the Sacramento Kings and being majority owners of the Palms Hotel and Casino, they are
now minority owners in the Vegas Golden Knights, an NHL team that will start playing this year. Also, the Maloofs and Floyd Mayweather Jr. are long-time neighbors, living down the street from each other in a tony Las Vegas suburb. So yes, they know Mayweather a lot. And yes, they have faith in their neighbor. As Gavin analyzes:

“Floyd is the greatest counterpuncher that probably ever lived. I know Conor is a great puncher, and I'm not taking anything away from the UFC. Conor is probably going to be the aggressor. Floyd will wait until he punches. You have a guy switching sports, and that's not easy, and then you're taking on the greatest boxer of all time. Now on the reverse side, you have Conor who's much younger, and maybe that will affect Floyd. It's a good fight."

Value Betting - How I Supplemented My Income & Paid For Luxury Holidays, Designer Clothes & More Without Breaking A Sweat

Whether you are new to betting, or you are seasoned gambler, you've heard the same things mentioned time and time again. People say that no matter...

Possibility of Upset

Photo: Joe.ie

According to Gavin, he called up his brother Joe after attending a recent workout by Mayweather. He told his brother that they should make a bet because he ( Gavin ) thought Floyd would not lose to McGregor. Gavin has also watched Floyd’s last dozen bouts in person and is familiar with everything Money May has ever done so Gavin was pretty confident with his bet. The thought of an upset though makes it more exciting, he says.

When the Mayweather vs McGregor fight was first announced, Mayweather opened as high as a -1000 favorite. But the line has since changed and is not almost cut to half with all the McGregor money coming in fast. These bettors are hoping that McGregor has a puncher’s chance with his famous left hand and that he can accomplish what 49 professional boxers could not: beat Floyd Mayweather Jr.

McGregor Money

Photo: skysports.com

Over 95% of the tickets and around 85% of the money has been placed on McGregor who is currently a +400, meaning a $100 bet wins $400. MGM’s sportsbook has one bet for Mayweather for every 27 for McGregor, according to its assistant manager Jeff Stoneback. The sportsbooks are hoping that late ( big money like the Maloofs ) money come in for Mayweather to once the lines drop lower so they can offset the disparity in the bets.

Regardless of how the line changes or closes, the Maloofs will make a handsome profit if Mayweather wins. But they aren’t betting here to make a profit. The brothers told AP that all their winnings will be donated to charities in Las Vegas and Los Angeles, via sister Adrienne and in the name of ‘Never Too Hungover’.

Never Too Hungover

Photo: blackinkpr

Never Too Hungover is the one of the Maloof brothers’ latest venture. It’s product is a highly distributed hangover prevention and recovery drink. Never Too Hungover was introduced to the U.S. market in 2014 and boasts of over 2.5M bottles sold as of 2016. It has national distribution in GNC, Sam’s Club and Vitamin Shoppe among others.

"We have a huge opportunity to help a lot of people in charities, so we decided to do it," Gavin Maloof said. "It's a neat way to enjoy the fight, and it's a fun way to promote our product."

It’s fun indeed if you have the money. And if $880K is ‘fun’ money for you. Well, the Maloofs can afford it. Let’s just hope that McGregor doesn’t get lucky with his left hand. Else, Gavin and Joe may get a dose of their own product Never Too Hungover.

Value Betting - How I Supplemented My Income & Paid For Luxury Holidays, Designer Clothes & More Without Breaking A Sweat

Whether you are new to betting, or you are seasoned gambler, you've heard the same things mentioned time and time again. People say that no matter...

Shane Acedera

Shane Acedera

Shane Acedera has been writing online sports articles since 2003 but have been a writer and a blogger since high school. an office employee by day and a sports storyteller by night.

Read More