Some professional boxers bet on themselves during big title fights, adding more excitement to the sport.
If these athletes are already guaranteed a high purse, why do they do it?
Allowing boxers to place bets is a controversial issue today with many legal and ethical implications.
This article will discuss whether boxers can bet on themselves and why professional boxers do this even with a guaranteed payday.
Can Boxers Bet On Themselves?
Professional boxers are allowed to bet on themselves in the United States, but Olympic boxers are not.
Of course, this depends on the country and regulations set by its governing body.
For example, in Britain professional boxers are not allowed to bet on themselves. In other countries such as Singapore and United Arab Emirates, gambling is not legal.
In other professional sports with a team setting, such as basketball or football, you can implicate your teammates and coaches.
Pete Rose, manager of the Cincinnati Reds, received a lifetime ban from the MLB for placing bets on his team.
Imagine the effect on his team and other NBA players if Michael Jordan, one of basketball’s most infamous gamblers, bet on his own games, his own team, and his own performance.
However, in the sport of boxing, fighters are allowed to bet on themselves and gain extra money.
Many boxers know their craft so well that they feel comfortable putting extra risk on themselves for personal financial gain.
Can Professional Boxers Bet On Themselves?
For the Nevada State Athletic Commission, which governs one of the gambling capitals of the world, professional boxers can bet on the outcome if they are sure of their own win.
However, they aren’t allowed to make any prop bets such as method or time of victory.
For example, a fighter can drag a fight along to make sure that it will last past a certain round.
It’s important to note that boxers cannot bet against themselves. This presents a huge conflict of interest and is considered illegal. Many reputable bookmakers will refuse these wagers.
Doing this gives a boxer an incentive to perform poorly. The odds will change unfairly and will be considered match fixing.
Can Amateur Boxers Bet On Themselves?
Amateur boxers are allowed to bet on themselves. Or better put, local and state governing bodies of the sport haven’t deemed it illegal.
Since amateur boxers don’t get paid, you can see where the incentive comes from.
One can imagine boxing history littered with desperate boxers making deals with shady bookies and no control over where the money comes from.
In the Olympics, self-wagering is strictly prohibited.
Although there are no expressed laws enforced by each individual country, participating athletes sign contracts barring them from placing wagers.
The most famous example of an Olympic athlete going against this contract is Steve Donnelly, who bet on himself to lose, but ended up winning a split decision.
Interestingly, when questioned by the Olympic committee, he insisted on losing via fair play and giving his best effort in the competition.
Examples Of Boxers Betting On Themselves
Some famous examples of boxers betting on themselves include:
- Floyd Mayweather Jr.
- Keith Thurman
- Tyson Fury
Considering the payouts that these boxers gained just by participating, we think that the bets placed were just used to rack up media coverage and to get under their opponent’s skin.
Floyd Mayweather Jr.
Floyd Mayweather Jr. is the most famous example of a professional athlete who bet on himself.
According to ESPN, Mayweather placed a $400,000 wager on himself to win under 9.5 rounds for his fight against Conor McGregor.
Even though Mayweather was allowed to bet under Nevada regulations, the bookmakers refused to take the bet because of the legal implications.
Mayweather ended up winning the fight, but both fighters received a huge payout regardless of the bet.
Keith Thurman
Keith Thurman was another professional boxer who (supposedly) placed a hefty bet on himself.
According to Boxing Scene, Thurman was so sure that he’d knock Manny Pacquiao out in the first round that he was willing to place a wager on it.
Of course, this may have just been a bluff to change the odds or get into Pacquiao’s head.
In the end, Thurman would lose the fight (and the bet) to Pacquiao.
Tyson Fury
Tyson Fury was the most recent famous example of a professional boxer betting on himself.
Before their fight, Fury placed a £200,000 wager that he would beat Wladimir Klitschko.
Fury ended up with a win, but considering that he earned £5 million just from participating, it’s hard to see the sense in him making bets.
We think that this was just a mental ploy to get under Klitschko’s skin.
Conclusion
Betting as a participant in any sport is a tricky subject. Even if you are allowed to bet on yourself, you should think twice before doing so.
This raises some important questions: is the core objective of a professional athlete to win or make as much money as possible?
Why would a professional athlete bet in such a high-stakes setting?
Take Floyd “Money” Mayweather for example. Would he take a loss on his perfect 50-0 professional record if he was guaranteed a $1 billion bet on the outcome?
Luckily for fans and purists, most athletes think they make enough money and are content to play the sport as is.
Since the fear of loss is greater than hope of gain, perhaps boxers do all this to give them an extra incentive. The payday is guaranteed whether they win or lose, but the gambling money used to bet is personal.
In most cases, it seems that professional boxers do this for show, to increase the hype for the fight and to get into their opponent’s head, regardless of the outcome.
If you want to learn how boxing odds and betting work, read this article.
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