All in all, Saturday will go down as a very good day for boxer Ryan Garcia. Not only did he defeat the WBC super lightweight champion, he also made a significant change. He also lost a little bit, but it was nothing compared to the money he made.
Garcia said on social media that he made nearly $50 million, $10 million of which came from betting on himself. Undefeated Devin Haney was an outrageous -700 favorite for the fight, and Garcia lost at +500. Garcia returned $12 million on a $2 million personal bet after defeating Haney.
There's no rule against betting on yourself that Garcia will win the fight. Boxing promoters like to see their fighters have that kind of confidence. Boxing is different from spread betting. You either win or you lose.
Boxers are not allowed to make prop bets on matches. If a fighter bets on a fight over a certain number of rounds, it could be considered an attempt to change the outcome of the match. Boxers are not allowed to bet on their opponents. Garcia's bet on himself is perfectly fine. If Garcia were to bet on Haney using the best betting apps, he would likely be banned from the sports world for life.
Garcia's prank before the match turned out to be a ruse, as Garcia was prepared and determined. He put on a great performance, slamming Haney to the mat three times and winning by majority decision. Garcia won 115-109, 114-110, 112-112, and the final judges saw a different fight than the first two.
Tough start to the weekend for Garcia
Despite losing to Garcia, Haney left the bout still retaining the WBC super lightweight championship belt. Garcia weighed 143.2 pounds, more than three pounds over the 140-pound weight limit, making him ineligible for the championship.
Making matters worse for Garcia, he said he would give Haney $500,000 for every pound he gained. So by the opening bell he had lost his $1.5 million, but by the end of the night he had done pretty well.
It used to be common to bet on yourself
Mr. Garcia's self-betting was a surprise to those only familiar with the current restrictions on sports betting by professional leagues, but it was once common across all sports. Major League Baseball Hall of Famer Cap Anson was famous for betting on his MLB team after he became manager. He also bet while playing, but times were different back then. Sports betting apps, sports betting calculators, the internet, or other tools used for gambling today did not exist.
Over time, the situation changed to the point where sports betting was completely banned. Athletes who bet on another sport were given suspensions, and those who bet on their own sport faced even harsher penalties. Betting on your own game is a no-no, and that's why Pete Rose was banned for life. He only bet on the Reds team he coached, but he didn't bet every day. If Rose bet on the Reds four days in a row instead of five, it would signal to the bookmaker that he didn't like his team's chances in that game. It's also possible that he runs out of bullpens on games he bets on, leaving no one left for the days he didn't bet on the Reds.
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