Money Fight Equals Massive RevenuesJake Cooper | 10 Oct 2017
The legendary fight between Conor McGregor and Floyd Mayweather has gone down in history as one of the most well attended – and profitable – boxing matches of all time.
Now, it has been revealed that the McGregor vs. Mayweather fight increased revenues of Las Vegas sportsbooks by an incredible 1,651% during the month of August, which has impacted positively on many other gambling sectors as well.
The win rate of 11.3% attached to the fight is the highest ever achieved for the US state of Nevada in August. Furthermore, as a result of this win rate, revenues for Vegas sportsbooks rose to an exceptional sum of $33.95 million during the month in question, coming as a staggering 1,651% increase for the bookmakers in the gambling state.
NGCB Reveals 14.9% Year-On-Year Revenue Growth
Experts have noted that it will take Vegas a long time to encounter another fight (or any other sporting event) that will be as highly anticipated at the boxing match between Mayweather and McGregor, which was held on August 26 this year. Irish UFC champion McGregor was pitted against Mayweather, Vegas’ favourite boxing poster-boy, in the iconic event.
Reports of broken gambling records began pouring in as soon as the fight concluded with Mayweather winning the ultimate title. However, it is only now that the event’s effect on Las Vegas casinos and sportsbooks has been revealed.
The Nevada Gaming Control Board (NGCB) has released figures reflecting the estimated impact that the match had on the local industry, showing a year-on-year revenue increase of 14.9% in August this year alone. In other news, the state’s Blackjack earnings grew by 33.6% to $108.5 million, while Baccarat revenues rose 37.9% to $101.5 million.
Bookies Reap The Rewards Of Mayweather’s Win
The boost in foot traffic and excitement that had been generated around the McGregor vs. Mayweather fight attracted thousands of visitors – both locals and tourists – to the Las Vegas Strip, resulting in increased earnings for all of its native casinos.
Due to the hefty prices of the fight’s tickets, many visitors even arrived at Vegas simply to take in the thrilling atmosphere without watching the event itself.
Approximately $70 million was placed on the match by those backing Conor McGregor, who was an obvious underdog. Fortunately for the bookmakers of Las Vegas, Mayweather remained undefeated, allowing sportsbooks to enjoy massive profits in the process.