Boxers Saul “Canelo” Alvarez and Julio Cesar Chavez Jr have put their money where their mouths are – about $45 million of it.
The middleweights got a bit carried away on live TV. Chavez, who was in line for a guaranteed $9 million, suggested it should be a winner-takes-all bout.
Canelo, with by far the most to lose at $36 million, said sure, because he’ll “will win” anyway.
Then when Chavez looked like he was going cold on it, Canelo reminded him he stood far less to lose.
“I’m giving you an advantage on this bet, because I’m making four times as much as you anyway,” he said.
The Spanish TV show host seized the moment.
“I know both of you are gentlemen, so how about you guys agree the bet and shake on it here on the show?”
So the pair did. Here’s the handshake – there’s no going back now, boys:
— Oscar De La Hoya (@OscarDeLaHoya) February 22, 2017
And when they fight on May 6 at the T-Mobile Arena in Las Vegas, Nevada, almost $45 million will be on the line.
For the loser, nothing – apart from a entry in a record book somewhere for losing one of the biggest bets in history. And that goes for whoever loses.
Plenty of gamblers have lost hundreds of millions in bad streaks at casinos, but only Kerry Packer’s infamous “toss you for it” call to risk $100 million on a Texan oil tycoon’s business comes close to a single bet stake between two people.
The tycoon walked away from the bet.
Nevada State Athletic Commission executive director Bob Bennett said he wasn’t convinced the deal could be made legitimate unless a new contract was drawn up.
“Betting purses is a lot of money and doesn’t seem like a wise thing to do,” Bennett told the Los Angeles Times.
“It’s never been done in my time here.”
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