UFC costs sportsbook nearly $1M

A remarkable variety of upsets at UFC Fight Night 61 resulted in a historical beating for the sportsbook Bovada.LV.
Frank Mir’s victory on Sunday night marked the 10th win by an underdog, costing at Bovada nearly $1 million, according to the manager of the sportsbook.
Underdogs went 10-1, and consequently, parlay bets, where players bet between $1 and $5 on most of underdogs, hit large.
According Bovada sportsbook director Kevin Bradley, one bettor had a $ 4 parlay that paid $85,000 to. Another had.
“We had at least a dozen of these bets which paid out $10,000 or more,” Bradley explained.
Bradley stated the loss approached almost $ 1 million over the occasion, when all was tallied up.
“We take in a lot more money about the NFL or the NBA that if you have these kinds of parlay winners, it’s hard to hurt [our business],” Bradley explained. “With UFC, this will be tough to return from.”
“Ordinarily, going into an event, I understand what we need,” Bradley added. “But I had been focused on the Oscars and the Daytona 500, both of which we had been… performing well on. What happened with UFC is just so rare.”
Bradley said the result was such a loser for the sportsbook which Bovada will probably have to win big from the Floyd Mayweather vs. Manny Pacquiao fight on May 2 to create its UFC/boxing publication a profitable one in 2015.
“We are not getting this money back from the people that won,” Bradley explained. “The kind of bettor that wins those bets throws a tiny sum of money on all the favorites or all of the underdogs to attempt and become wealthy. I guess it worked.”

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