Paddy Power Already Awarding Payouts to Those Backing Mayweather to Beat McGregor
Paddy Power isn’t exactly your standard bookmaker. They have a bit more personality than most sites, which leads to the occasional bizarre story. They are famous for posting off-the-wall prop bets, but their latest stunt may be the wildest thing they’ve done yet.
Paddy Power said Thursday that they have already begun paying out bets placed on Floyd Mayweather to beat Conor McGregor. The catch, of course, is that the fight hasn’t even happened yet. It’s set to go down on Saturday night in Las Vegas. Yet, apparently, Paddy Power is so confident in Money’s chances of winning that they have already begun to pay out winning bets to those backing Mayweather.
Paddy Power says that more than 80% of bets placed at their book have backed McGregor, but they made a £250,000 payout on Thursday to a bettor that backed Mayweather.
A Paddy Power spokesman said, “We’re spinning the roulette wheel a bit here – as getting it wrong would see a serious Mac Attack on my bank balance. But, when you’re backing Mayweather, you’ve basically covered the whole board anyway. Patriotism aside, we are paying out early on a Mayweather victory because we checked, and only one of them is a boxer. We always bet on black.”
To say this is a bold stroke from the Irish bookmaker would be quite the understatement. This is obviously a publicity stunt, but one that does seem to have very little risk of backfiring. As of Friday afternoon, Mayweather has been hovering around -600 to defeat McGregor on Saturday evening.
Paddy Power is predicting more than £200 million in bets on the event, which would easily make it the most bet-on event in the history of the book. It is estimated that more than three times as many bets will come in on this bout as came in on Mayweather’s 2015 fight with Manny Pacquiao. It is expected to be Paddy Power’s biggest singular event of 2017.
Paddy Power currently has Mayweather at ¼ to win the fight. Those that backed him early in the outright market are those receiving their early winnings.
Initially, the market opened at 1/20 for Mayweather. However, with so many bets and punt bets coming in on the Irishman, the odds have narrowed considerably over the last several weeks. McGregor is currently at 10/3 to win, per Paddy Power.
A couple of huge bets placed in Las Vegas have effectively made McGregor’s odds a bit longer, however. MGM reported a $1 million bet placed on Thursday, while another bettor threw down $1.2 million at the William Hill sportsbook in Nevada on Mayweather at -500.
Mayweather and McGregor will finally face-off on Saturday night at the MGM Grand Garden Arena in Vegas.
Not Cool, Hawaiian Gardens. Not Cool. The Hawaiian Gardens card room in Lo...
PokerStars announced recently that it has pulled Beat the Clock games from ...
The Netherlands is on the verge of introducing new framework that will regu...
The dispute between the state of New York and the Seneca Nation of Indians ...