Forty-two to one. The fight between Mike Tyson and Buster Douglas is known for many things. But beyond Douglas’ major upset for the world’s undisputed heavyweight boxing title, nearly 26 years after the fight, few things still resonate today other than the 42-to-1 betting line. Douglas showed anyone who bet on the fight that long odds can sometimes hit like a free spin on a slot machine. Anyone who backed Douglas, who was regarded as a journeyman heavyweight and a fringe-at-best title contender, would get paid 42 times what they bet on him to win. Many sportsbooks didn’t want to set a line for the fight because they didn’t think Douglas could win.
Gambling in Boxing: Buster Douglas’ Tyson Upset
Tyson was seen as nearly invincible at the time. But Douglas was better that night. Douglas scored a 10th-round knockout and sent the boxing world into a frenzy. It’s hard to imagine without gambling attached to it in some sense.
Betting on who would win a fight is a debate that usually starts between kids growing up. It’s only natural that the interest would continue into adulthood. However, gambling can help promote fights and secure more money for everyone involved in the sport.
Casinos Held Many of Boxing’s Greatest Matches
There is no doubt that boxing is enjoyed by a worldwide audience. However, one city, Las Vegas, has become an unofficial capital for the sport. Part of what helps draw fights to the desert is the amount of money available.
MGM and Caesars, which are two of the biggest casino names in town, have long-sponsored venues that held fights. In Las Vegas’ case, many of the larger resort casinos hosted the events themselves. When these venues were in search of steady revenue streams, they agreed to kick in money to sponsor boxing cards.
Resorts and casinos purchased advertising while also providing promoters with cash to attract the most popular fighters. This practice has changed as different people have entered the sport.
Betting on who would win a fight is a debate that usually starts between kids growing up. It’s only natural that the interest would continue into adulthood. However, gambling can help promote fights and secure more money for everyone involved in the sport.
Saudi Investment in Sports: A Challenge for US Venues
Over the past year, investors in Saudi Arabia have lured some top talent away from fighting in the United States. That will be a tough battle for many United States venues to handle.
The Saudis have become more interested in investing in sports. With deep pockets, the Saudis can absorb more risk than other investors in other countries. However, few promoters can set the scene like casinos do for big fights.
Usually, celebrities and wealthy fans show up to take ringside seats. There is a lot of glitz and glamour provided for fighters walking out, and events are scheduled for the week leading up to the fight. Casinos can utilise all of these extra opportunities to make money.
Bigger Names Lead to More Betting
When Tyson Fury and Oleksandr Usyk fought for the undisputed heavyweight championship in May, there was intense interest in the fight. Having the first fight of its kind in nearly 20 years brought out casual interest from people who aren’t die-hard boxing fans.
Canadian rapper Drake made a $565,000 bet on Fury to win. Drake ultimately lost his bet. But there was more than $100 million wagered on the fight worldwide. What tends to draw higher betting interest is when there is a super fight.
While boxing doesn’t have as many major starts, when someone can break through, they can draw big money. Floyd Mayweather Jr. always saw a lot of money bet on his fights, including the money he bet on himself.
Results of Fights Can Lead to Nasty Accusations
Putting out a betting line on a fight can signal to fans how close bookmakers believe a fight will be. When a big underdog wins, there is always a lot of scrutiny from the betting public. If the fight goes to a decision, there can be a lot of scrutiny on the judges.
However, even fights that end in knockouts can be examined under a microscope. The FBI believes the 1964 fight between Muhammad Ali, then known as Cassius Clay, and Sonny Liston was fixed. Liston retired from the fight in the sixth round due to a shoulder injury. The authorities believe the mafia was involved in helping to determine the outcome.
Boxing will always struggle with integrity due to the sport’s individual nature. While in football or basketball, there can be multiple people responsible for determining the outcome, how a fight ends in boxing is up to the two fighters in the ring.
How to Bet on Boxing
With the growing popularity of sports betting, there is more opportunity for people than ever before to put money down on the fight. For boxing, the easiest wager to make, in terms of understanding what you need to win, is to bet on one fighter’s money line.
When wagering on a money line, a bettor would win money if their fighters came out on top. However, any bettors need to look at what type of money line they are wagering on. In boxing, a fight could be scored a draw.
In that case, anyone betting a two-way moneyline, which features prices on either fighter to win, would be funded. However, anyone who bet a three-way moneyline, which accounts for a draw, would need the exact result they bet to happen or else they would lose.
But boxing betting is more than betting on who wins or loses. Bettors can also wager on proposition bets, including a fighter to win by decision or KO to try and get a larger payout.
Gambling Helps Keep Boxing Alive
The combat sports space is flooded more than ever. However, boxing has persevered to stay relevant by offering a deep history. Talented athletes still find their way into boxing and wow crowds worldwide.
While boxing faces intense competition from the UFC for fight fans, there is still something romantic about boxing. Tyson was a 42-to-1 favourite, but Douglas walked away as the champion.
Bettors bold enough to believe in an underdog walked away with wads of cash in hand. While nothing felt right that night in Tokyo, the enduring underdog story that night produced will live on forever.
