Ryan Garcia won a majority decision last weekend over Devin Haney in a World Boxing Council super lightweight title fight. He claims to have won even more, namely, the $10 million he bet on himself.
On Wednesday, Garcia made a post to his personal Instagram account in which he alluded to wagering $2 million at +500 odds on himself to defeat Haney. He knocked down Haney thrice in the bout, winning when the judges ruled 114-110, 115-109, and 112-112. As a result, Garcia says he was paid $12 million, including his $2 million stake.
View this post on Instagram
How Was Garcia Able to Bet on Himself?
Typically, legal sportsbooks in the United States would not allow a participant to bet on their own sporting event. That means Garcia may have placed his alleged wager with an illegal sportsbook, perhaps operating offshore.
An illegal sportsbook is not regulated and does not have to conform to rules and state or federal gaming laws. A bet the size of what Garcia claims would be highly unusual for a legal sportsbook and likely impact the overall odds. An offshore sportsbook is likelier to accept large bets and ask few or no questions about the bettor or where the money is coming from.
Placing bets with illegal sportsbooks is dangerous because your money is unprotected from fraud. There is rarely a way to resolve an issue if a dispute arises over payout.
The WBC has not issued a statement on Garcia’s betting claims. Legal sportsbooks have refused previous attempts by boxers to place bets on their bouts. The WBC does not have a specific rule prohibiting athletes’ wagers on their events, but it has an integrity clause in its sanctioning agreements.
Related Pages: Legal Sports Betting States | Sports Betting Revenue | Implied Probability Calculator
Garcia Owed Haney $1.5 Million for Being Overweight
Garcia wrote in his Instagram post, “I will let God guide me on how to use this money. Amen.” He also said, “If you bet, BET ON YOURSELF. On top of what we made. EATING GOOD. About 50 million (probably more) in one night not too shabby.”
The latter figure refers to his purse and pay-per-view earnings from the fight in addition to the alleged $10 million he made on his successful wager. Garcia has 11.6 million followers on Instagram, and the post where he claims to have won his massive bet received more than 850,000 likes.
Even before the fight with Haney took place, Garcia was betting on himself, except in that case, he lost. Garcia had promised to pay Haney $500,000 for every pound over the weight limit. When he came in a shade over three pounds heavy, he owed his opponent $1.5 million, a figure Haney confirmed he received from Garcia.
Garcia hails from Southern California, and he’s previously fought in the super featherweight, lightweight, and light welterweight divisions. In 2021, he was briefly the lightweight champion.
ALSO READ:
About the Author
