Boxing is one of the most popular sports in the world and many people enjoy placing bets on the matches in order to win some cash back. These bets have been taking place for years with many bookies and now online betting sites offering odds.
Here, we are going to look at the history of betting on boxing and how some of the odds work. Make sure to keep reading if you are interested in this topic.
The First Boxing Bets
Boxing was one of the first organised sports and many people enjoyed going to their local boxing ring to see who might take home the title. Many people believe that boxing bets started as early as when boxing was first introduced so this would have been in the 1700s.
After a short ban on boxing in the USA and UK in the early 20th century, this sport became popular again as boxing matches started taking place in gambling centres. People wanted to place bets on the big stars and so boxers needed to show that they were worth the money when they stepped into the ring. The earliest boxing stars were Jack Johnson and Jack Dempsey and people would place huge bets on these boxers.
During the time of Dempsey, this sport saw the first million-dollar gate and huge money was being put into this sport.
How Do Boxing Bets Work?
If you are going to be placing a bet on a boxing match, it is important that you understand how the different bets work and the odds that are attached to each. Boxing is hard to predict because of the fact that it is a contact sport. One of the first types of bets in this sport was the round bet. This bet involved putting your cash on how many rounds a boxer could last.
Other popular bets include betting on the type of victory which includes a split decision, technical knockout, points win and much more.
Figuring out who to bet on can be tricky in boxing as anything can happen at any time. You can have an odd of 50% and sometimes 70% on a particular player to win so how do you make the decision? Many people use tips to make their bet on boxing while others just choose a winner and hope that they get lucky. This is what has been seen in boxing bets for many years
Largest Bets On Boxing
The way in which the odds work in boxing often means that the potential return on a bet can be really high. In the past, there have been many large bets placed on boxers by members of the public and on the boxers themselves. One of the largest ever recorded bets placed on this sport was when an elderly man from Northern Ireland placed £150,000 on Mayweather to beat Pacquiao. The odds for this match were 2:1 and the man managed to win around £250,000!
Of course, not every large bet comes through for the bettor. An example of this was when someone placed £24,000 on Mike Tyson to beat Lennox Lewis at odds of 13:8. Tyson was ten knocked down twice in the eighth round and Lewis won the match.
Online Betting
Now, boxing is extremely popular with people who like to place bets online. There are many sports betting sites that offer bets on the outcome of the matches that are scheduled to take place every day. People from around the world log onto these sites and tune in to see what the overall outcome is.
Online betting on boxing and other sports are only set to increase in popularity over the years as this technology gets more advanced. Look out for new sites launching and the number of bets increasing.
Betting on boxing has been around for many years and it looks like it is going to remain popular for a while.