Public banking on Pacquiao, so books need Mayweather

It’s a good thing this fight did not happen five years ago, when everyone started asking for it. Five years ago, Floyd Mayweather Jr. and Manny Pacquiao were not this big, and what we are witnessing is the result of years of anticipation and hype.

For a while, it appeared this might never happen. A troubled Mayweather went to jail. A fading Pacquiao got knocked out. But each boxer revived his career, and here we are now.

Mayweather, the undefeated villain, and Pacquiao, the smiling good guy, finally trade punches tonight at the MGM Grand Garden. It might not be a great fight, but it will be one of the greatest nights in boxing history.

In numbers terms — pay-per-view buys, gross revenue, etc. — it will be the biggest. The wagering handle in Nevada is expected to approach $75 million, a heavyweight figure that is an educated and realistic estimate.

“Everybody wants a ticket on this fight,” said Jimmy Vaccaro, a veteran oddsmaker who rolled into Las Vegas in January 1975.

Vaccaro was at the MGM Grand on Friday afternoon, when a tidal wave of humanity almost swept him away. Pacquiao was making his way toward the arena for the weigh-in — it’s hard to believe, but 11,500 fans showed up to see two little guys in underwear step on a scale to prove they were under 147 pounds — and the crowd went wild.

“I’ve been to a lot of these fights, and I’ve never seen anything like that,” Vaccaro said. “It’s good that we’re around to see something like this.”

This is more than a megafight. It’s the Most Overhyped Fight of the Century, but that’s not a bad thing. Hype makes life more intriguing.

Five years ago, before social media outlets such as Twitter boomed in popularity, there would not have been this much hype or wagering for Mayweather-Pacquiao. But these boxers are established superstars now, and the timing is perfect for this.

“Everybody is interested in it. Everybody knows these guys,” MGM Resorts sports book director Jay Rood said. “People want to watch boxing, and very rarely do two personalities like this come together.”

The history of boxing plays a role in this, too. From Muhammad Ali to Mike Tyson and every great fighter in between, we’ve seen some unforgettable brawls in Las Vegas, where the atmosphere on a fight night like this can be better than anything else in sports.

Vaccaro recalls the Marvin Hagler-Thomas Hearns slugfest on April 15, 1985, at the outdoor arena at Caesars Palace. The animosity between the two was real. Hagler won a bloody knockout in the third round.

“That was the most enjoyable thing I’ve ever seen,” Vaccaro said.

It’s no mystery why so many people want to be a part of this. It’s a spectacle that is bigger than Mayweather and Pacquiao. ESPN has shot live shows from Las Vegas all week. Vaccaro did an interview with Al Jazeera that was beamed halfway across the world and translated in Arabic. There are TV crews here from Mexico, Japan and, of course, the Philippines. The Strip is a zoo.

And putting a bet on the fight means being a part of it.

Mayweather is 47-0 and a 2-1 favorite at MGM Resorts books, but Pacquiao at plus-170 is the hottest ticket with the betting public. So many tickets are being written on the underdog that some books have dropped the price on Mayweather to minus-180, after he opened as a minus-350 favorite.

“We need Mayweather right now,” Rood said. “The ticket count is ridiculous.”

Rood estimated 30,000 betting tickets have been written on the fight at MGM Resorts, where a handle in the $30 million neighborhood will represent close to half of what will be wagered in the state.

The biggest wager MGM has received, Rood said, is $500,000 on Pacquiao. He expects a $1 million wager or two might surface today.

Wynn Las Vegas sports book director John Avello said he has been taking six-figure bets for two months, and $25,000 and $50,000 bets are routine.

“It’s going to turn out to be the biggest betting fight of all time,” Avello said.

William Hill sports books accepted a $100,000 wager on a draw. The odds on the fight ending in a draw — and a lot of controversy — have plummeted from 22-1 to 6-1 at the MGM.

“They are betting on Manny,” Vaccaro said as he watched bettors line up at the windows at the South Point sports book. “We will need Mayweather at fight time.

“I don’t see why we can’t do $70 million. We’re going to have a real nice figure. Who knows where it’s going to end up?”

Vaccaro talked about Larry Holmes and Ken Norton, who went 15 rounds in 1978 in Las Vegas. Holmes won a split decision.

“Everybody is dying to see a great fight,” Vaccaro said.

It should be a close fight, one Mayweather is most likely to win by decision. It no doubt will be a memorable night because the timing is just right.

Las Vegas Review-Journal sports betting columnist Matt Youmans can be reached at myoumans@reviewjournal.com or 702-387-2907. He co-hosts “The Las Vegas Sportsline” weekdays at 2 p.m. on ESPN Radio (1100 AM). Follow him on Twitter: @mattyoumans247.