Bovada lost at least $1M last night

Kevin Bradley was surprised by the call he got on Sunday night.

It was one of his employees who helps him manage boxing and UFC betting for the online sportsbook he works for, Bovada.LV.

If Frank Mir beat Antonio Silva in the final fight of UFC Fight Night 61, the sportsbook would take a historic beating, he was told.

"Normally, going into an event, I know what we need," said Bradley, the sportsbook manager for the site. "But I was focused on the Oscars and the Daytona 500, both of which we were ... doing well on. What happened with UFC is just so rare."

What happened? Nine underdogs had won their fights, and minutes later, Mir became the 10th. Parlay bets, in which gamblers bet between $1 and $5 on all underdogs, hit big.

One bettor had a $4 all-underdog parlay which paid $85,000. Another had four $1 parlays that paid $25,000 each.

"We had at least a dozen of these bets that paid out $10,000 or more," Bradley said.

When all was tallied up, Bradley said the loss approached nearly $1 million on the single event.

"We take in so much more money on the NFL or the NBA that when you have these types of parlay winners, it's hard to hurt [our business]," Bradley said. "With UFC, this will be hard to come back from."

Bradley said that the result was such a loser for the sportsbook that Bovada will likely need to win big in the Floyd Mayweather vs. Manny Pacquiao fight on May 2 to make its UFC/boxing book a profitable one in 2015.

"We're not getting this money back from the people that won," Bradley said. "The type of bettor that wins these bets throws a small amount of money on all the favorites or all the underdogs to try to get rich. Well, I guess it worked."

From espn Phone Post 3.0


He sounds jaded. Phone Post 3.0

10 underdogs have never won on a single UFC card to my knowledge.

I could be wrong though.

After 300 plus UFC events it was bound to happen.

McBottery - lol

He sounds jaded. Phone Post 3.0
Yeah fuck that guy haha. Phone Post 3.0

In other news, the vig is about to go up at Bovada!

I'm so upset with myself for missing my chance to get rich. $1 is all it would have took. The one night I don't have balls is the one night it happens. I won money last night, but it feels like baby money compared to what could have been. Last night $100 could have changed my life. Fuck man... Phone Post 3.0

Wow. I usually do this but I've been so turned off by the recent mma bullshit that I haven't even really been paying attention or watching. Phone Post 3.0

I started a thread earlier but this one is better. I jumped on the wagon for the first 3 underdogs just solo bets. $25 ML bets (way below my usually betting amount) just wanted a little skin. Then you could just feel it. These dogs are gonna win all night. So I put together parlay round robin bets starting with Reneau. Got Saenz in one parlay. And the rest is history. $25 turns into $3500. Wish I had been playing at my normal amounts but it was still fun. My bookie got off cheap. :( Phone Post 3.0

Also, this statement by book execs is more revealing than most will take in. These guys manipulate sports. You don't have to believe it, we all want to believe players play for the love of the game. This is a job for athletes. They are good enough to produce outcomes for their clients. Which is why a grown man gets paid millions to play what is a childhood game. It's because it's not a game, it's the backbone of sports gambling which takes in billions off of having these guys around. Gambling and sports are in bed and have been in bed with each other for a very long time. NFL and NBA are their cash cows. The way those games can be manipulated is amazing for the sportsbook. They add new rules every year to make it easier to swing things, making the refs able to impact a game at any moment. In the NBA start paying attention to how a player kind of tries to do a covert look over to the sidelines inbetween freethrows at crucial points in the game while the score is hovering over the spread. Something I've been saying for a long time. Those fucked up scores from judges in fight sports, those huge unexplainable sudden momentum shifts in football and basketball, those teams that are on fire and suddenly bumble over every play, these guys are the guys behind the scenes calling in fixes to avoid what happened last night from happening. Just happened to be the night where they weren't as efficient with the event being in Brazil and most fights ending in finishes. Even the fights that didn't end in a KO, like the Alcantara vs Saenz fight, was such a dominant display from Saenz that they couldn't rob him anyway. Last night was a perfect example of a card leaving the judges out of it. I'm happy it happened, I'm sad I missed out on getting rich. Phone Post 3.0

Wonder how Joey O did last night. Dude always bets a ton on the underdogs.

I can't imagine all the stupid douchebags who won money on this. A true Christmas miracle for retards.

They lost a million, and he said they may not turn a profit from combat sports because of it? Damn. Phone Post 3.0

Richard Roe - Look at it this way, if you had bet a dollar and won $1000 then you'd be even more pissed that you didn't bet more and really win big. Phone Post 3.0
This is so true. I bet $1 on a 6 fight parlay and won like 100 I was so pissed I didn't bet more. But then I lost that 100 on the next event trying to recreate it but on a bigger scale. Phone Post 3.0

Are we supposed to feel sad for them? Phone Post 3.0

CanofPineapple - I can't imagine all the stupid douchebags who won money on this. A true Christmas miracle for retards.
That's an interesting point of view. Not sure whether it comes from jealousy or ignorance. I have found that the square douchebags in the betting world are typically on the chalk. Phone Post 3.0

CanofPineapple - I can't imagine all the stupid douchebags who won money on this. A true Christmas miracle for retards.

1 person turned a $4 parlay into $85,000.

Even if they had bet $4 on all 309 UFC events they would've only invested $1,236.

SensoriaUtopia - A poster named Jon rambo put a dollar on 6 underdogs last night, he actually posted the betting slip, dude won 1,700 bucks off that 1 dollar, good for him, so upset of myself for not picking more dog's last night, oh jeez, watch the next card all favorites win

What betting site allows a $1 bet?

I wouldnt mind giving this a whirl on a ufc card once in awhile.

The one fucking time i dont do any parlays. Lol Phone Post 3.0

BJ Penn Forever - 10 underdogs have never won on a single UFC card to my knowledge.

I could be wrong though.

After 300 plus UFC events it was bound to happen.
Well since it was like 1/100 000 or more, I would say no not after 300 events.

A lot of them were over 200 too Phone Post 3.0

1 out of 100,000 odds of those ten dogs winning?

Is that hyperbole or did you run the moneylines in a parlay calculator?