Heavy betting in favor of Manny Pacquiao has driven Las Vegas' sports books to narrow the odds between Pacquiao and Floyd Mayweather two months before their May 2 bout, the Associated Press reported on Tuesday.
After the fight's announcement, Mayweather emerged as a betting favorite, with a 2.5-to-1 advantage over Pacquiao. But a number of bets on Pacquiao in recent days, including several $10,000 bets during the weekend, have caused oddsmakers to even the betting line.
"I've never seen Mayweather this low eight weeks out before the fight," said Jimmy Vaccaro, who runs the South Point hotel sports book. "It's a one-way attack on Pacquiao ... We're well into a six-figure loss right now if Pacquiao wins.
Both Mayweather and Pacquiao began their training camps on Tuesday, indicating that more information will soon be available to bettors.
The most recent odds at Vaccaro's South Point sports book favor Mayweather at -200, while Pacquiao stands at -170. Vaccaro added that he has seen more betting on the Mayweather-Pacquiao bout than he has ever seen two months before a fight. Some within the betting industry have estimated that legal wagers could reach $50 million.
In addition to Mayweather and Pacquio's long-awaited match, May 2 will be marked by the Kentucky Derby, NBA and NHL playoffs and a baseball schedule in full swing.