How Vegas Cashed In On The Money Fight
The T-Mobile Arena in Las Vegas not only provided the ideal location for the Mayweather/McGregor fight; it also drew in thousands of visitors from all over the world. While the fight itself might not have been as entertaining as the hype suggested, we didn’t really expect McGregor to win, did we? If we take a look at the stats, Mayweather earned his 10th round TKO deserving respect. After feeling his way through the first 5 rounds, Mayweather landed 58% of his 150 power-packed punches compared to McGregor’s 25% out of 332.
What the fight did do is earn both fighters a boatload of cash. According to reports, Mayweather was guaranteed to pull in $100 million, which most likely escalated to the $200 million mark. McGregor settled the $30 million minimum, but probably ended up with a cool $100 million at the end of the day. They were not the only ones to cash in on the fight though. Vegas casinos and sportsbooks also make a killing on the weekend.
It is said that the income generated in Vegas doubles on weekends and public holidays, and although there are some extreme cases in which revenues are affected, they tend to bounce back quickly. On the Money Fight weekend, hotels, casinos, restaurants and just about every opportunistic enterprise in Las Vegas came away with serious profits; and that excludes the sports books. While their aim is to minimise risk, heavy betting action on McGregor left Las Vegas bookies in the undesirable position of potentially paying out millions of dollars.
The House Always Wins
To be fair, there was a lot of action on both parties, but the amount of people betting on McGregor was unpredictably high, to the point where if McGregor had won, Las Vegas would have had to fork over $50 million in potential winnings. The old saying, “The house always wins” rang true that weekend and while some punters cashed in, Vegas sportsbook operators breathed a sigh of relief.
After the dust settled, the Money Fight ended up being the most profitable fight for Las Vegas sportsbooks of all time. According to a local sports betting spokesman, the bookies finished up on the positive side. If the fight had gone on a little longer, they would have stood to make even more. While the wagers turned out to be riskier than initially thought, it all ended up peaches and cream for Las Vegas, with the results swinging their way. Not even the fighters, the hotels or the casinos stood to make as much as the sportsbooks when all was said and done.