Sports

Floyd Mayweather’s Gambling Habits Have Cost Him Millions

Floyd Mayweather Jr. is one of the richest athletes in America, with an estimated net worth of at least $560 million, thanks to years of him being the top-drawing attraction in boxing. Having that much money can be dangerous for someone like Mayweather, though, because he has a well-known gambling habit.

With being worth more than half a billion dollars, Mayweather can afford to make bets and not go broke if he loses, but with some of the big-money bets he makes, losing bets can cause his net worth to take a significant hit — to the tune of millions of dollars.

Floyd Mayweather Jr.’s gambling habit

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It’s no secret that Floyd Mayweather likes to gamble. He has shared details of his bets with fans on social media over the years, and he almost bet on himself. There was speculation that he bet $400,000 on himself to beat UFC star Conor McGregor in their bout, but Mayweather decided not to place the bet after growing frustrated with the sportsbook doing legal checks on his potential bet.

It is not uncommon for Mayweather to place six-figure bets — or even gamble $1 million or more on a single bet. But when your net worth is in the hundreds of millions of dollars, betting those amounts won’t necessarily break your bank.

Some of Floyd Mayweather’s famous bets

More money is probably bet on the Super Bowl every year than any other sporting event in the country — and Floyd Mayweather is known for betting a lot of that money.

Perhaps the boxer’s most famous bet came at Super Bowl XLVIII, when he reportedly placed bets totaling $13 million. Because of the amount of money he wagered, Mayweather allegedly had to make the bets with seven different agencies. The reported bets didn’t go in Mayweather’s favor, with him reportedly betting $10.4 million on the Broncos -2 and $2.6 million on the Broncos -0.5; the Broncos lost to the Seahawks in a blowout, 43-8.

Mayweather denied placing those bets. In 2012, Mayweather posted a social media about wagering $1.1 million on a college football game. He took Oregon -7.5 over Arizona State. The Ducks won the game 43-21 to cover the spread, and Mayweather later confirmed that the win secured him a $1 million profit.

In 2015, Mayweather boasted about betting $815,000 on the Broncos to beat the Jets, with a 7.5-point spread. Denver won the game 31-17, securing Mayweather a profit of more than $600,000.

Notable gambling losses

While Floyd Mayweather does sometimes hit it big and make a sizable profit in his bets, you can see from his alleged Super Bowl XLVIII bet that he also manages to lose big chunks of money with bets that go the wrong way for him. And if news reports are to be believed, 2017 may have been the boxer’s worst year ever for his gambling habit.

In 2018, he announced he was coming out of retirement to have a rematch with Pacquiao. That never happened, and his 2017 fight with McGregor remains the last match he has had. But when Mayweather announced his intention to fight Pacquiao a second time, speculation was that it was because he wanted to make up for gambling losses that he incurred.

There were news reports in September 2018 that, according to “gambling sources” in Vegas, Mayweather was “down over $50 million in gambling losses since 2017.” If that was true, then another Pacquiao fight would have been a nice financial boost for Mayweather, who wrote on social media that “another 9 figure payday” would be on the way when he announced plans for the Pacquiao rematch.

It seems like most people, Mayweather likes to highlight his big wins and not talk about or even deny his losses. Losing $50 million in a year is enough to make just about anyone’s net worth take a hit. Taking a break from gambling would probably do his wallet some good.