The size of the bet is believed to be the biggest ever made so far on this fight, and the boxing event is expected to be Las Vegas' largest show in recent years. The affluent entrepreneurs and ex-owners of the Sacramento Kings have publicly revealed their extraordinary bet last Sunday, two days right after they placed their wager at the South Point Hotel and Casino in Las Vegas.
In 2013, the Maloof brothers sold the Sacramento kings to Vivek Ranadive for $534 million, which was a record sum in NBA history at the time.
Joe and Gavin Maloof are extremely confident that Floyd Mayweather Jr. shall beat the heck out of Conor McGregor that they bet a whopping $880,000 on it!
The brothers shall make a $160,000 profit if Mayweather (a minus-550 fave last Friday) wins against McGregor, a UFC champion albeit just a newbie at boxing. In fact, this is McGregor's debut on professional boxing.
How it happened
Gavin Maloof and Floyd Mayweather Jr. are actually long-time neighbors, who live down the street from each other in a small suburb in Las Vegas. Gavin recently went to Mayweather's gym to have a workout session and he got out brimming with confidence, claiming that even after a two-year layoff, age has not worn out the 40-year-old undefeated champion's skills.
Gavin said, "So I called my brother, Joe, and said, 'We should put a wager on Floyd, because I don't think he's going to lose,'" Not to take anything away from Conor. He's good. But I just like Floyd a lot."
The brothers talked to the South Point bookie and made an $880,000 bet, with which the number was initially too large to display properly on their usual betting ticket. The casino then rewrote the bet into two $440,000 tickets, which will eventually pay out a total sum of $1.04 million if Mayweather wins.
"Against all odds"
The brothers are definitely going against the wagering trends on this potentially one-sided match. Around 95% of the tickets and 85% of the money has been bet on McGregor these recent weeks, and Las Vegas bookies are hoping many more punters shall follow suit after the Maloof brothers so as to offset their extraordinary liability in case the turnout would be that McGregor shall win the fight.
Gavin has been present at the last dozen fights of Mayweather in person and has watched closely everything the champ has ever done, therefore he feels confident in his wager. But of course, he still cannot take out the possible image at the back of his mind, when an upset could still potentially occur, and thus for him it all makes things more exciting.
Gavin said, "Floyd is the greatest counterpuncher that probably ever lived. I know Conor is a great puncher, and I'm not taking anything away from the UFC. Conor is probably going to be the aggressor. Floyd will wait until he punches. You have a guy switching sports, and that's not easy, and then you're taking on the greatest boxer of all time. Now on the reverse side, you have Conor who's much younger, and maybe that will affect Floyd. It's a good fight."
If Mayweather wins
Gavin Maloof said with a chuckle, "I know a family that's going to be watching this fight very, very closely."
Obviously, the brothers made the bet purely for the thrill of it, but then they realized they can make something worthwhile out of it.
If the Maloof brothers become huge winners along with their choice fighter come August 26, they said they will be giving away the proceeds of their humongous wager to charity. Gavin said the family shall donate the proceeds to various charitable institutions in Los Angeles and Las Vegas, where Adrienne Maloof, their sister is actively involved in charity work, especially on behalf of the Never Too Hungover, their widely-distributed hangover prevention drink.
Gavin said, "We have a huge opportunity to help a lot of people in charities, so we decided to do it. It's a neat way to enjoy the fight, and it's a fun way to promote our product."
On August 26, the Maloof brothers will be spotted near the ring at the T-Mobile Arena to see if their huge bet pays off. Gavin said, "It should be a great event for everybody. We'll be able to do a lot of good things."
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