by Charles Jay
Some of the late reports out of Las Vegas are that there has been quite a bit of money coming in on Floyd Mayweather as his junior middleweight championship fight against Canelo Alvarez approaches.
It has been reported that the “sharp money” came in a little earlier than usual, and one of the reasons for it is that Mayweather was seen as a value, and bettors may have anticipated that the price may not go much lower.
Mayweather was in fact as low as -240 to win at some venues in Las Vegas, and that can be attributed to some loyalist money on Alvarez that came out of the Latin community. At that point, most of the sharps figured that was the best price they were going to find. And then it went up.
Some big bets pushed it there. And that is not uncommon, because of the fact that the high-rollers start to arrive right before the weekend. One of those wagers was for over a million dollars on Mayweather. And it wasn’t even BY Mayweather, who is notorious as a high-rolling sports bettor.
A consensus price as of mid-Saturday afternoon was Mayweather -260, but that number will likely move upward. There may be more action on this fight than another, according to one sportsbook executive, and again, one of the reasons for it is that the price on Mayweather is seen as “cheap,” meaning that he is not in a bout where he is a relatively prohibitive favorite. Thus, there are smart people willing to bet appreciable sums who believe they have found some value in the number.
And let’s be honest – there is also the perception on the part of many bettors that at age 36, Mayweather could finally be vulnerable, and that Alvarez, the younger, bigger man, could have the capability of extending his own unbeaten record while at the same time ending the unbeaten string of “Money.”
Most internet outlets have Mayweather at a higher price than is being dealt in Las Vegas. A survey of 20 leading online sportsbook outlets finds that he is -275 or more at all but one of them, and -300 or higher at thirteen of them.
There are also, of course, the wagers that represent exact outcomes. At GetThatBet.com, for example, Mayweather is priced at -165 to win a decision, and +450 to win inside the distance, whether it is by knockout, TKO or disqualification. Alvarez carries a price of +550 to win a decision.