22.092017Controversial Boxing Fight Causes Anger for Punters and Bookmakers
After the drama of the Mayweather vs McGregor fight came a true boxing spectacle: Saul Alvarez (Canelo) vs Gennady Golovkin (GGG). Billed as a contest between two of the best pound-for-pound fighters of their generation, this was a fight that all true boxing fans wanted a piece of. However, it didn’t quite turn out as many predicted and in the end, when the dust settled, there was chaos in the Las Vegas, the land of the world’s best casinos and biggest gamblers.
The Controversial Draw
If you ask many people who watched the fight, GGG was the deserved winner. He didn’t boss the entire fight, but his aggression throughout should have been enough to make him the winner. And as he was the favorite, that would have ensured many bettors won big.
However, the judges on the night didn’t feel the same way, The fight ended as a split draw, which was down to the fact that one judge scored it a draw, another scored it a slight win for GGG and another still, rather surprisingly, scored it a big win for Canelo.
In online sports books like Bet365, a draw would mean that anyone who bet on Canelo or GGG to win, would lose their money and the bookies would win big. In fact, this is exactly what happened, and only those who took the Draw bet at odds of between 20/1 and 30/1 would have beat the bookies.
However, in Las Vegas, it’s a different story. The bets are taken on the winners only, as this is the way they are used to doing things (draws are a rarity in Baseball, Basketball, Football and other big American sports). In Vegas, you bet on the winner, and that’s it. If it’s a draw, then bets are voided and punters get their money back.
This means that Vegas ended up paying back a huge number of bets, effectively losing money on what should have been one of the biggest events of the year for them. They were set to make a fortune from this fight, but in the end they had to rely on profits from smaller bets.
But when you consider that many prop bets were for the fight to go the distance or to end in a draw, this was not very good news for the bookmakers either. All in all, this was was a bitter pill that Vegas had to swallow. But they’re not alone, because the punters who bet big and expected a big win, as well as the boxing fans waiting for this to go one way or another, will also be pretty annoyed with the controversial outcome.
Of course, the biggest gambling companies will continue to earn big from countless offline and online casinos, they have some of the highest rated casinos in the US and make the most money, so they won’t get much sympathy from us.
21% Online Casino Tax Could Spell the End of This Industry31.10 2018
Nominations Open for the 2019 Global Gaming Awards23.10 2018
Fortune Factory Studios is Acquired by Microgaming16.10 2018