How Floyd Mayweather's victory over Conor McGregor boosted Paddy Power Betfair and other bookies

 
Alys Key
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Floyd Mayweather Jr. v Conor McGregor - Weigh-in
Bookies were pleased to see Maweather win after 80 per cent of bets went on McGregor (Source: Getty)

Bookies breathed a sigh of relief on Saturday night, as Floyd Mayweather was victorious over underdog Conor McGregor in a "Money Fight" which attracted an estimated £200m in bets.

Dublin-headquartered Paddy Power Betfair revealed ahead of the match that 80 per cent of all bets taken had been on McGregor, meaning the bookie saved millions of pounds on potential payouts to its countryman's backers.

Paddy Power was one of the biggest risers in the FTSE 100 early this morning, opening up more than one per cent in the first market day since the match. Meanwhile its US-listed operations received an upgrade from Zacks Investment Research from "sell" to "hold".

Read more: Conor McGregor uses fight loss to plug his whiskey brand

It will be a welcome relief for the company after putting all its eggs in one basket and putting out pro-Mayweather advertising. The firm even managed to get a sly bit of product placement by sending Mayweather a pair of branded green boxers for the weigh-in.

BOX-US-MAYWEATHER-MCGREGOR
(Source: Getty)

According to the company, the pants cost £3,000 and were designed by Mayweather himself - including the line "always bet on black".

Live crowd-powered betting odds during the fight night saw odds on a Mayweather victory go from 4/1 to 7/1.

Paddy Power confidently paid out winnings to several punters who had placed money on Mayweather's victory... before he had even won.

The total saved by British bookies thanks to Mayweather's win is estimated to be around £250m, Business Insider has reported, paying out £50m rather than a possible £300m.

But some lucky punters will also benefit. William Hill took a $1.2m (£930,000) bet on Mayweather, netting one person more than $200,000.

Read more: What does Mayweather vs McGregor signal for the future of sport?

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