Why Floyd Mayweather Always Bets on Himself and How Much Has He Won So Far
In 1996, Floyd “Money” Mayweather lost to Bulgaria’s Serafim Todorov in the featherweight semifinals at the 1996 Summer Olympics in Atlanta, in a now infamous 10-9 decision.
From then to the end of his professional career, Mayweather recorded 50 wins with 27 KOs. Mayweather gained his nickname after placing a USD750,000 bet on himself, the first of many bets that his “Money Team” would place that would see his earnings reach more than USD1 billion.
It is not just the fights that have earned Mayweather his vast income. Mayweather flew to Brazil intent on signing Shakur Stevenson to a professional contract once the 2016 Summer Olympics was over. As a Las Vegas resident, Mayweather also enjoys casinos and it is likely he enjoyed online casino Brazil when he met with Stevenson in Rio. Yet for Mayweather, the bulk of his income comes from Mayweather Promotions, now representing over 20 boxers.
Mayweather’s first bet
Mayweather started his professional boxing career signed with Top Rank Boxing promotional agency which took one-quarter of all proceeds made from fights, ticket sales etc. When TR refused to ask for USD20 million for Mayweather to fight Oscar De La Hoya, Mayweather paid USD750,000 to buy his way out of the contract and began to run his own fight promotions, earning as much as he could not only from tickets but also taking a percentage of the food and merchandise sold within the arenas.
Coming out of retirement
By 2006, after ten years as a professional boxer, Mayweather was able to secure a minimum of USD5 million for each fight.
Retiring in 2015, he has continued to earn significant sums through a broad range of businesses but has also come out of retirement several times for fights against UFC Superstar Conor McGregor in 2017 and Japanese kickboxer Tenshin Nasukawa, in an exhibition boxing match in December 2018.
His last bout was in June 2021 when he fought YouTuber Logan Paul. With this last exhibition fight, Mayweather said he could guarantee USD35 million for himself, with the potential for the fight to raise at least USD100 million overall. Mayweather also charges fans USD1,500 for online meet-and-greets.
Earnings over the last decade
Mayweather has made around USD1 billion from fights and endorsements over the last 10 years. His first fight on his own against Carlos Baldomir earned him USD8 million after he won by unanimous decision. Six months later, his fight with De La Hoya in 2007, saw him make USD25 million. In 2013, Mayweather signed a six-fight deal with Showtime for USD32 million and a share of the PPV sales.
By 2017, the amount Mayweather made from the high-profile fight against McGregor was estimated to be around USD275 million. Mayweather won by TKO in the 10th round.
Betting on himself
Mayweather has wagered USD250,000 on himself to win, and the payout has been roughly USD1 billion, even before his bout with Logan Paul, which went to plan, being the single biggest legal sports betting payout of Floyd’s extraordinary career.
Mayweather is a keen sports bettor, often sharing winnings from huge bets on his Instagram (27.2 million followers) and Twitter (7.8 million followers) account. To protect his reputation, no mention is made of losses.
Mayweather has his favourite casinos and as he has immediate access to tens of thousands of dollars at any time, he has been known to place large bets when he feels like it, using different sportsbooks to place the same bets on a game when he is unable to get a single high-value bet accepted.
Mayweather’s major successes include making USD477 in four days after betting on NBA basketball as well as a boxing match. He also won USD1 million on the Oregon Ducks in a match against the Arizona State Wildcats.