Few sports can deliver a one-off spectacle like boxing. The decades of history of the sport are littered with occasions that became national or global moments of note, from the first million-dollar fight between Jack Dempsey and Georges Carpentier in 1921 to this year’s clash between Jake Paul and Nate Diaz, which saw 1.5 million PPV purchases worth around $75 million.

As with any other major global sport, betting has long been associated with boxing, and although the relationship has not always been a healthy or happy one, the appetite of bettors for boxing action is as strong as ever. In the modern world of legalized betting, millions of dollars change hands over the big fights, and 2023 has produced two of the biggest betting bouts of all time.

Jake Paul v Nate Diaz, August 5, 2023

Jake Paul is obviously a divisive figure in the boxing world, but if a fighter’s worth to boxing is measured in views generated and attention garnered, then Paul is an unquestionable asset to the sport. Fights against Youtubers and retired MMA stars may not have been worth very much in boxing terms, but they make global headlines. Paul’s two bouts in 2023 against Tyson Fury and Nate Diaz were both huge TV and betting events.

Of course, Paul’s social media presence and profile, along with his status as co-founder of his own betting company, has turbocharged the attention on his fights, but whatever the cause, his fight against Diaz broke records for betting turnover. Superstar Drake famously wagered $250,000 on Diaz, and one US sportsbook reported that it was the second biggest betting fight in its history, behind the other blockbuster event of 2023, which is next on our list.

For context, that single fight generated more than double the total amount wagered on the whole six-fight UFC 291 card that was staged on the same night.

Gervonta Davis v Ryan Garcia, April 22, 2023

While the Paul v Diaz fight had a novelty element, the fight that took place at the T-Mobile Arena in Vegas on April 22 this year was a genuine treat for boxing purists.

Both men went into the fight with legitimate aspirations of a world title challenge, but their decision to meet while they were both approaching their prime caught the imagination of fight fans everywhere. Their strong social media presence, particularly in the case of Garcia, ensured that it generated interest among younger fans too.

The stats going into the fight underlined the titanic nature of the clash. Davis had a 28-0 record, following his eighth-round win against Hector Luis Garcia, while Ryan Garcia, who had last fought the previous July, boasted a 23-0 record, including 19 KOs. In the ring, the biggest fight of the year was settled in the seventh round when an upper cut to the ribs put Garcia on the canvas for the second time in the fight and ended the contest.

The betting action ahead of this fight had been frenetic, and Drake once again made the headlines, this time for a successful $1 million bet on Davis to emerge victorious.

Manny Pacquiao v Floyd Mayweather, May 2, 2015

It was described as the ‘Fight of the Century’. Whether it deserved that tag or not, it was certainly one of the biggest boxing events of all time, and a clash between two all-time greats. The undefeated Mayweather, who was 38-0 going into the fight, was up against the number two ranked pound-for-pound fighter in Pacquiao, and the fight had been under discussion for six years.

The fight was a tough grind, and a scrappy contest, in which Mayweather came through thanks to a unanimous decision. The occasion generated over $300m in gross revenue as a global audience tuned in to watch the much-anticipated clash. An unnamed Irish bettor wagered €150,000 on Mayweather, who was the odds-on favourite, and one US bookmaker reported that it took $1m in bets on the fight, which generated over 4 million PPVs.

Floyd Mayweather v Conor McGregor, August 26, 2017

Two years later, Mayweather was once again at the centre of a huge boxing betting event, though this time the contest was far more uneven. The fight against famed MMA personality and two-division MMA champion Conor McGregor was not expected to be a challenge for Mayweather, though in the event, the Irish challenger took it to the 10th round before succumbing to a TKO.

The fight was as notable for the spectacular sums of money involved. Mayweather’s purse for the fight was $100m, and he may ultimately have taken away four times that amount. For boxing bettors, it was an extravaganza of speculation that may have been the biggest betting event in the sport’s history. By some estimates, there were over $85m worth of bets on the fight, including six individual $1m bets in Vegas, all of which were on Mayweather.

Those who wagered on McGregor may have felt justified given that he went deep into the fight, but ultimately, he was no match for The Money.

Mike Tyson v Lennox Lewis, June 8, 2002

One measure of the importance of this fight was the fact that HBO and Showtime, usually fierce rivals for the big boxing events, agreed to a joint promotion for the Lewis v Tyson clash, something that didn’t happen again until the Mayweather v Pacquiao fight of 2015.

The result was that the fight became the biggest PPV event in boxing history, though it was subsequently surpassed by Mayweather v De La Hoya in 2007 and Mayweather v Alvarez in 2013. 

Scheduled to last 12 rounds, it was all over in the eighth when Lewis won with a KO. A sign of how Tyson’s fortunes had declined was the fact that he went into the fight as the outsider. Twelve years earlier, he had been the 1/42 favourite ahead of his famous bout with Buster Douglas.

In recent months, there have been suggestions, not least by Tyson himself, that there might be a rematch between the two long-retired fighters, but while there may be some interest in a rematch, it is unlikely to come close to generating the sums of money wagered on the original clash.

Boxing and betting responsibly

For most boxing bettors, placing a bet on a big fight is not a problem, but betting on sport, like wagering at a casino, can lead to addiction and other problems for some people.Often, they are unaware that they have a problem until they are well along the path.

Anyone who bets on boxing should remember the importance of betting responsibly and following these steps is a good way to ensure your safety when betting:

• Never bet with money you cannot afford to lose. 

• Never bet at unlicensed betting sites. 

• Set strict money and time limits on your betting. 

• Never bet while angry or under the influence of drugs or alcohol.

• Never neglect family, friends or work in order to bet on sport. 

• If you feel your betting is becoming a problem, seek help and support from one of the many gambling organisations that are available in 2023. 

• Remember that betting is not an answer to financial problems.