Garcia Self-Betting Earns Boxer Additional $10 Million
Was 5-1 Underdog Against Devin Haney
When all is said and done, Saturday will go down as a pretty good day for boxer Ryan Garcia. Not only did he defeat the WBC super lightweight champion, but he also made a serious chunk of change. He lost a little bit, as well, but nothing compared to the money he pulled in.
Garcia said on social media he made close to $50 million, with $10 million coming from a bet he made on himself. Undefeated Devin Haney was a prohibitive favorite of -700 in the bout with Garcia going off at +500. Garcia self-betting for $2 million returned $12 million after he defeated Haney.
No rules prohibit Garcia from self-betting that he wins a fight. Boxing promoters like to see that type of confidence in their fighters. Boxing isn’t like spread betting. You either win or you lose.
Boxers are not allowed to make prop bets on their fights. If a fighter bets his fight going over a certain number of rounds, it could be seen as an attempt to alter the outcome of a match. Boxers aren’t allowed to bet on their opponents. Garcia self-betting is perfectly fine. Garcia using the best betting app and wagering on Haney would likely see a lifetime ban from the sport.
Garcia’s hijinks before the match turned out to be a ruse, as he was ready and determined. He turned in a masterful performance knocking Haney to the mat three times and winning by majority decision. Garcia won 115-109, 114-110, and 112-112, with the last judge watching a different fight than the first two.
Weekend Starts Rough For Garcia
Despite the loss to Garcia, Haney left the match still retaining his WBC super lightweight championship belt. Garcia was ineligible for the championship after he weighed 143.2 pounds, more than three pounds above the 140-pound weight limit.
Making matters worse for Garcia is that he said he would give Haney $500,000 for every pound he was overweight. That put him down $1.5 million before the opening bell, although he made out pretty well when the evening ended.
Betting on Yourself Was Once Commonplace
While Garcia’s self-betting was surprising to people who are only familiar with the current professional league’s restrictions on sports betting, it used to be common in all sports. Major League Baseball Hall of Famer Cap Anson was notorious for placing bets on his MLB teams after he became a manager. He also placed bets while he still played, but it was a different time back then. There were no sports betting apps, sports betting calculators, Internet, or any of the other tools used in betting today.
Things changed over the years and reached the point that sports betting was completely prohibited. Athletes betting on a different sport were given a suspension and athletes betting on their own sport received a harsher penalty. Betting on one’s games was a definite no, which is why Pete Rose was given a lifetime ban. Even though he only bet on the Reds team he managed, he didn’t do it every day. If Rose would bet the Reds four days in a row and not the fifth, that let bookmakers know he didn’t like his team’s chances that game. He could also burn up his bullpen on games he bet and not have anybody left for days he didn’t wager on the Reds.
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